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Coffee Shop
tax it away
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<blockquote data-quote="Jogeephus" data-source="post: 406960" data-attributes="member: 4362"><p>Probably going to catch some flack over this, but I think the death tax was created for this purpose. This tax prevented families like the Rockefellers and Vanderbilts from owning all the land at one time thus allowing us to have a piece of the american dream. Problem, as I see it, the exemption has not kept up with inflation. When you own land, it doesn't take long to tally up a million or two in assets even though you are not cash rich. Hence is the problem. In Georgia, you also have to tally the timber as a seperate asset. This can easily make owning over a hundred acres of land subject to the death tax.(Just think if the gov't taxed the oil under your feet in Texas before it was pumped? To me, there is no difference and I can't see their reasoning in treating us differently)</p><p></p><p>In my opinion, I think the death tax limit should be increased to 5 or 10 million. This would serve the intent of the law while save countless numbers of family farms. IMO</p><p></p><p>If you disagree with the death tax completely, just look at Paris Hilton. She is a good reason we should have it.</p><p></p><p>I am not against taxes. I am just against the wasteful habits all governments have grown accustomed to and citizens who think the government owes them something. This mentality has to be curbed somehow.</p></blockquote><p></p>
[QUOTE="Jogeephus, post: 406960, member: 4362"] Probably going to catch some flack over this, but I think the death tax was created for this purpose. This tax prevented families like the Rockefellers and Vanderbilts from owning all the land at one time thus allowing us to have a piece of the american dream. Problem, as I see it, the exemption has not kept up with inflation. When you own land, it doesn't take long to tally up a million or two in assets even though you are not cash rich. Hence is the problem. In Georgia, you also have to tally the timber as a seperate asset. This can easily make owning over a hundred acres of land subject to the death tax.(Just think if the gov't taxed the oil under your feet in Texas before it was pumped? To me, there is no difference and I can't see their reasoning in treating us differently) In my opinion, I think the death tax limit should be increased to 5 or 10 million. This would serve the intent of the law while save countless numbers of family farms. IMO If you disagree with the death tax completely, just look at Paris Hilton. She is a good reason we should have it. I am not against taxes. I am just against the wasteful habits all governments have grown accustomed to and citizens who think the government owes them something. This mentality has to be curbed somehow. [/QUOTE]
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