I just love this one.
A guy/girl works all of his/her life tries to buy a house, maybe put a little cash away in some CD's or saving account, or a nice Roth IRA. Then he /she passes with a little money in the bank and maybe a paid for house, all of which taxes have already been paid. Hell the house you have to pay taxes on it when you buy it and every year after that.
G.W. put a stop to the death tax as of next year, makes sense to me. But now No'Bama and the rest of his Demoncrate hoards are going to repel the tax cut. Forty-five percent, 45%, that's how much you will lose to the federal government when you die. Better hope you don't go before your kids get out of college.
Tax,Tax,Tax Taxed when you make money, Taxed when you spend, Taxed when you die. I've got ten bucks to a doughnut that if No'Bama gets reelected in '12 there will be a birth tax.
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I know this is an old post man, but I have to add something too it. The worst part is that there is a way to avoid the tax if you have enough money to do it. I believe you just set up a living trust that passes to someone else's ownership after you die. So, the only people who lose out on this one are the poor - middle class.
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