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Posted by David McCall on 08/15/06 16:17
You keep talking about Bush giving tax breaks to the rich. I assume you are
talking about the tax known as the death tax or the estate tax. This is also
known as double taxation. Taxes have already been paid on that money, but
some think taxing your money once isn't enough, it needs to be taxed again
when you die. Most people are exempt from this tax completely because
they don't own businesses or have substantial savings or investments.
This tax is not just aimed at executives of big corporations, but also at
the
family that owns the mom and pop store on the corner. It is also aimed at
the family that own a modest farm keeping that farm from being passed down.
The theory is that dead people aren't around to complain so they make a good
tax target. Unfortunately it isn't the dead person that suffers (his
suffering is over)
it is the rest of the family that has to sell the family business for
pennies on the
dollar to pay the taxes on their parents death.
David
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