The antiquated estate tax

Why does America insist on robbing rightful inheritances?

  • Follow Editorials

America is about to do something to families that not even Russia or China do: pillage their inheritances.

The so-called estate tax – more pejoratively referred to as the “death tax” – is set to skyrocket Jan. 1 – from 35 percent to 55. And on a whole lot more families, as well: Currently, the tax applies to estates of $5 million or more; next year, it will extend to estates of $1 million or more.

The American Farm Bureau reports that means the tax will cover 97 percent of family farms.

The estate tax is a relic of class envy that not even Russia or China hold onto anymore.

It punishes families who have risked their capital and plied their sweat and tears to build businesses and work the land. And it is just another disincentive – albeit a huge one – for people to invest and grow businesses.

The estate tax often forces families to liquidate businesses and farms, robbing generations of families from carrying on
beloved enterprises they’ve grown up working for and nurturing.

It’s quite simply un-American at any level, and should rightfully be completely done away with. Yet this country is actually looking at increasing it.

How discouraging, when you can point to communist countries that have more family-friendly policies.

Comments (54)

Add comment
ADVISORY: Users are solely responsible for opinions they post here and for following agreed-upon rules of civility. Posts and comments do not reflect the views of this site. Posts and comments are automatically checked for inappropriate language, but readers might find some comments offensive or inaccurate. If you believe a comment violates our rules, click the "Flag as offensive" link below the comment.
KSL
105424
Points
KSL 11/26/12 - 07:19 pm
3
2

What a perfect name Jane Doe

What a perfect name Jane Doe picked for herself!

burninater
6771
Points
burninater 11/26/12 - 07:57 pm
2
3

ICL, if the estate tax

ICL, if the estate tax destroyed family farms, then we would have a supermajority of corporate farms, not family ones. The aggregate number of farms is a function of demand -- unless their primary revenue source is the Farm Bill teat, of course.

InChristLove
21662
Points
InChristLove 11/26/12 - 08:06 pm
3
1

'ICL, if the estate tax

'ICL, if the estate tax destroyed family farms, then we would have a supermajority of corporate farms, not family ones"

Not necessarily.....if corporate farms have also decreased due to other circumstances then the overall farm (corporate and family) distribution would remain true.

burninater
6771
Points
burninater 11/26/12 - 08:11 pm
1
2

ICL, if you have two

ICL, if you have two populations of ownership, family and corporate, and a destructive force that selectively targets family, how the heck do you maintain 96% family ownership? It's completely implausible.

burninater
6771
Points
burninater 11/26/12 - 08:13 pm
2
2

Do you have candidates for

Do you have candidates for this mysterious force that is selectively destroying corporate farms to maintain this distribution of ownership?

InChristLove
21662
Points
InChristLove 11/26/12 - 08:17 pm
2
1

If you have two populations

If you have two populations of ownership, family and corporate, and a destructive force that selectively targets family, (but also a destructive force of a different nature that targest corporate as well) would not it be possible to maintain the 96% family ownership if both populations were destroyed at approximately the same rate? It's seems completely plausible, does it not?

InChristLove
21662
Points
InChristLove 11/26/12 - 08:18 pm
3
1

"Do you have candidates for

"Do you have candidates for this mysterious force" It was a hypothetical senario just like everything else that is posted here.

KSL
105424
Points
KSL 11/26/12 - 08:25 pm
2
3

Lowest common denominator.

Lowest common denominator.

KSL
105424
Points
KSL 11/26/12 - 08:26 pm
3
3

PTHS used to say, "Words

PTHS used to say, "Words mean something."

KSL
105424
Points
KSL 11/26/12 - 08:30 pm
3
3

I will give him credit when

I will give him credit when credit is due.

Jane18
12331
Points
Jane18 11/26/12 - 11:12 pm
2
1

Jane18 vs. Jane Doe 1

Please do Not get me confused with that Doe person!

Back to Top

Top headlines

Regents approve tuition hikes

DAHLONEGA, Ga. - Tuition is going up for Georgia students at all 31 state colleges and universities under a budget plan approved Tuesday by the state Board of Regents, including the largest ...
Loading...