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View Diary: White House: Holding middle-class tax cuts hostage hurts economic growth (37 comments)

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  •  And I haven't heard any discussion of the estate (10+ / 0-)

    tax, worries me greatly.  The current law exempts $5+M from tax.  We need to drop the exemption amount--both as a revenue raiser and as a means of keeping the playing field somewhat more level.  

    There should not be a class of citizenry that is privileged merely because of birth and not because of its accomplishments.

    •  $5million is aboout the value of a family farm (0+ / 0-)

      in New England. And many of the farm families are in no way able to pay inheritance taxes on a farm their family bought when it was $5/acre in the 1920s. That's why the lower limit was set. Lowering that limit would force many small farmers to plant the last crop: a Subdivision. Market forces are already making that happen and without farms, no food.
      It's the upper reaches that need to be dealt with, the several hundred million dollar fortunes of the Robber Barons that pass down through generations who are still benefiting from their great grandfather's ruthlessness.
      Inheritance taxes along with Cap Gains and Interest&Dividends, were cut way back under BushCheney, they even had one year when they were Zero.
      It's those taxes that must go back to Clinton levels if not higher.

      If I ran this circus, things would be DIFFERENT!

      by CwV on Mon Nov 26, 2012 at 08:19:29 AM PST

      [ Parent ]

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