[Dems2008] Re: Why Obama

Is there a person in all of Wyoming that likes ANY tax?

--- In Dems2008@yahoogroups.com, "Sandra Goodwin" <bridger82923@...>
wrote:
>
> This is one of the issues that keeps states like WY Republican.
> These old ranch families don't want to have to sell parts of the
home
> ranch to pay estate taxes. They want to pass it on intact.
>
> Sandra
>
> In Dems2008@yahoogroups.com, "citation502" <citation502@> wrote:
> >
> >
> > Carol, there is a lot of demgaguery about the federal estate tax,
> and
> > its repeal is sold to folks with less than the full truth of the
> matter.
> >
> > * The estate tax is just another revenue source for the govt;
> and so
> > the question is not whether the revenue should be collected from
> us, but
> > from whom and via which vehicle should it be collected. In my
view
> > (and these are policy questions on which we can all differ) I
would
> > rather take a dollar of tax from a dead guy's estate (before the
> balance
> > passes as a pure windfall to a child or others) than I would take
> that
> > dollar from a working person trying to raise and educate his or
her
> > children. So the estate tax (which hits a very small percentage
of
> > folks in this country) is a better more preferred source (in my
> view)
> > than the same dollar coming via the income tax
> > * second, the step-up in asset basis is always ignored in
these
> > discussions: if I buy a house for 100K and it's worth $2
million
> when
> > I die, my devisee takes the date of death fair market value as a
> stepped
> > up basis. Seems only fair that since ASSETS (not cash) are the
> bulk of
> > the estate of a person subject to estate tax, a fair tradeoff for
> the
> > windfall from the basis step-up is to tax that asset at death.
The
> > earner is DEAD; the legatee or devisee is a windfall beneficiary.
> >
> >
> > --- In Dems2008@yahoogroups.com, Carol Roberts <carolroberts1@>
> > wrote:
> > >
> > > Wow, I mostly agree with your positions on things, except for
the
> > estate
> > > tax. It taxes after-tax money. I know the threshold has been
set
> very
> > > high, but I remember the days when I represented widows who had
to
> > sell
> > > their houses in order to pay the estate tax. I don't care that
the
> > > people who now pay estate tax have several houses, its not
right.
> > >
> > > Carol
> > >
> > > citation502 wrote:
> > > >
> > > >
> > > * I support huge tax cuts for those earnings less than 100K,
and a
> > > > repeal of the suspension of the estate tax
> > >
> >
>

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