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Post by Jack Frost on Jan 28, 2012 21:53:21 GMT -5
Does anyone else see the death tax as absolutely evil?
And no one thinks it strange that they are currently at the lowest level in decades (under a democrat!), at least for now. Let's see, Republicans are supposedly against it, and they controlled all three branches for six years, and yet, hmmm, this monstrosity of government idiocy was not forever removed. Ron Paul tried...
If you honestly believe what these big-time politicians (Newt, Romney, etc.) say, then God help us all!
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Post by Bubba Bass on Jan 30, 2012 19:18:48 GMT -5
Totally evil. I agree. We are still under the Bush tax rates. If the economy wasn't so bad, you can bet the tax rates would be much highter. Clinton drove me out of business with taxes.
I don't believe Romney at all. When he gets to the details of an issues, it's clear to me that he doesn't truly understand the details, at least not like Newt and Bachmann do.
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Post by Jack Frost on Jan 30, 2012 20:03:27 GMT -5
Year: Exclusion Amount: Max/Top tax rate: 2001 $675,000 55% 2002 $1 million 50% 2003 $1 million 49% 2004 $1.5 million 48% 2005 $1.5 million 47% 2006 $2 million 46% 2007 $2 million 45% 2008 $2 million 45% 2009 $3.5 million 45% 2010 Repealed 2011 $5 million 35% 2012 $5.12 million 35%
If nothing is done, at the end of this year the current bill expires, and the exclusion amount reverts back to 1 million, with a top tax rate of 55% (which is absolutely disgusting). But as you see, after Bush left office, the exclusion amount more than doubled, and the top tax dropped by 10%. HOWEVER, I just want to know why the heck the Republicans didn't completely get rid of this when they had the power to do so. Hypocrites and liars... This particular tax gives almost no revenue to to the Government, but it easily destroys family businesses. It doesn't make sense why they kept it.
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