Estate tax


H

Harlan Lunsford

Late breaking bulletin!

Today the House (of representatives, iow OUR congresscritters)
voted to eliminate the estate tax.

Interesting.... to say the least.

ChEAr$$$$,
Harlan Lunsford, EA n LA]
13 Apr 2005
ONLY two days more!
 
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P

Phil Marti

Harlan Lunsford said:
Today the House (of representatives, iow OUR congresscritters)
voted to eliminate the estate tax.
My quarter says it won't make it out of the Senate.
 
H

Harlan Lunsford

My quarter says it won't make it out of the Senate.
Moderator: Phil, my quarter says it will.
Phil, I'll see your quarter and raise you a dime.

On another score however, is the AMT which is contributing
to the fleecing of middle America. It's amazing the
progressing number of people it's catching and will catch in
the next five years. But doing something about it?
Eliminating it even? Not a chance when that drastic step
would mean a shortfall of over a trillion dollars revenue.
That's hard to imagine.

ChEAr$$$$$,
Harlan Lunsford
 
S

Stuart A. Bronstein

Harlan Lunsford said:
On another score however, is the AMT which is contributing
to the fleecing of middle America. It's amazing the
progressing number of people it's catching and will catch in
the next five years. But doing something about it?
Eliminating it even? Not a chance when that drastic step
would mean a shortfall of over a trillion dollars revenue.
That's hard to imagine.
And the best thing is that they can leave it in place, each
year trapping more and more people who have less and less
buying power, all the while claiming that they are not
increasing any taxes.

Stu
 
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P

Phil Marti

And the best thing is that they can leave it in place, each
year trapping more and more people who have less and less
buying power, all the while claiming that they are not
increasing any taxes.
I saw an interesting take on this on another discussion board. Isn't AMT a
cousin to that flat tax that so many people are clamoring for? Two rates, a
generous exemption, few deductions and preferences. Hey, get rid of the
rest of the AMT deductions and the capital gains break, index it, and we're
home!
 

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