2010 Just Might Be a Good Year to Die

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People who have illnesses that could lead to death in the next year or two need the congress to get off their duffs and decide on an estate tax or not.
We deserve to know what to expect. They could do this. They have enough democratic votes to pass anything they want. I am tired of excuses. Just do it. I suggest 3 million exemption and a rate of 25%. Then just leave it alone for 20 years. Pleeeeeeeeze. Dave Austin

Dave Austin of IN 7:18PM December 31, 2009

Typically, the funds left by an estate, have already been taxed making an estate post tax. So in the event that anything is left to family, the estate is double and even triple taxed. Though estate taxes may serve an important role in our economy, I am sure congress and the senate can for once come up with a more ethical solution to pay for their payraises.

Melissa of TX 12:12PM December 30, 2009

Do away with the estate taxes. It is nothing more than stealing from hard-working people. A lot of those affected by estate taxes are family farms and small businesses. People should not be penalized because they choose to work hard and are frugal. Doing away with estate taxes will allow more small businesses to remain in business to provide jobs for others. Those who do inherit money without estate taxes being imposed are subject to capital gain taxes if they sell assets. Let these successful people keep their businesses and pass their business on to whomever they please. Don't worry Uncle Sam will still get some of their money with other forms of taxation. And someone you know may even have a job because of small businesses. And you may even be able to eat because someone runs a farm.

Paul Smith of CA 4:08PM December 23, 2009

top 1% pays 40% of the taxes.
top 5% pays 61% of the taxes.
top 10% pays 71% of the taxes.
One should conclude that the upper 10% are in fact giving (or more accurately have taken away from them) more than their fair share of the burden to support our country.

Frank of NC 4:48PM December 21, 2009

As a progressive tax, the estate tax serves an important purpose in our economy. The preservation of the estate tax is essential to the government's ability-through class envy-to finance the re-election of members of Congress, as well as promote the Marxist ideals the serve as the new foundation of our government. Therefore the government needs an estate tax and will require a strong estate tax. Without the funds generated by the estate tax in 2010, the government will be forced to seek alternative sources of income (which will inevitably disproportionately fall on the middle class and especially on the upper class-which already pays the bulk of the taxes-as the lower class has a negative tax liability)or reduce if not eliminate unimportant government expenditures or cause the Congress to put us and our progeny even further in debt. Whatever the outcome, there is no good that can come from re-imposing the estate tax in 2010. For more information see an Economics 101 textbook.

Frank of NC 4:09PM December 21, 2009

I don't know what the current figures are, but I recall well seeing, a few years back, that 90% of the individual wealth in the U.S. is owned by under 10% of the country's people. That's a stunning statistic unmatched in very few countries and, usually, it is Third-World countries that match it.
No estate taxes at all in 2010? That would be sad, for as we all know too well, the country needs the money, as do a great many worthy charities.
Since those in lower classes are mainly the ones generously giving their lives for their country, I say those in the upper class could at least give generously from their wealth for their country.

Ron W. Smith of VT 4:08PM December 21, 2009

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Diane Robinson of NY 4:00PM December 21, 2009

As a progressive tax, the estate tax serves an important purpose in our economy. The preservation of the estate tax is essential to the government's ability to finance important policies and projects, as well as promote the democratic ideals that serve as the foundation of our government. Therefore, not only do we need an estate tax, we require a strong estate tax. Without the funds generated by the estate tax in 2010, the government will be forced to seek alternative sources of income (which will inevitably disproportionately fall on the low and middle classes) or reduce if not eliminate important government expenditures. Whatever the outcome, there is no good that can come from losing the estate tax in 2010. For more information: http://www.faireconomy.org/news/estate_tax_action_alert_12-7-09

Hannah of MA 3:19PM December 21, 2009