Health
Death Taxes: ThirdAgers Speak Out
ThirdAgers made their point emphatically on a congressional plan to end the federal inheritance tax: Get rid of it.
Republicans are saying enough is enough -- and want estate taxes eliminated as part of their $792 billion budget proposal. They claim the plan will save taxpayers about $60 million over the next 10 years. Democrats don't care for the plan, claiming the rich will stay rich and that inheritance taxes help redistribute and equalize wealth.
But ThirdAger Vera says: "Do away with the death tax. Why should our heirs pay taxes on money we have already been taxed on (in fact we are taxed to death). Maybe, at least, our heirs can enjoy the fruits of our labor."
Teresa agrees: "Inheritance tax equalizes wealth? Who are the Democrats kidding! Anyone who is wealthy has already made darn sure that his or her heirs won't have to pay any inheritance tax. There are plenty of legal loopholes to insure this. A wealthy person who inherits money and pays the tax is still wealthy and a poor person who inherits money and pays the tax is still poor. Exactly where is the equalization of wealth?"
What's your view on this taxing problem? Speak out on the ThirdAge Opinion Page.
Republicans are saying enough is enough -- and want estate taxes eliminated as part of their $792 billion budget proposal. They claim the plan will save taxpayers about $60 million over the next 10 years. Democrats don't care for the plan, claiming the rich will stay rich and that inheritance taxes help redistribute and equalize wealth.
But ThirdAger Vera says: "Do away with the death tax. Why should our heirs pay taxes on money we have already been taxed on (in fact we are taxed to death). Maybe, at least, our heirs can enjoy the fruits of our labor."
Teresa agrees: "Inheritance tax equalizes wealth? Who are the Democrats kidding! Anyone who is wealthy has already made darn sure that his or her heirs won't have to pay any inheritance tax. There are plenty of legal loopholes to insure this. A wealthy person who inherits money and pays the tax is still wealthy and a poor person who inherits money and pays the tax is still poor. Exactly where is the equalization of wealth?"
What's your view on this taxing problem? Speak out on the ThirdAge Opinion Page.
