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I know a several families that have passed large estates to their heirs. None have paid estate tax. Getting rid of that tax is just a "feel good" thing. If you have a large estate, get an estate attorney now.
Since those now controlling 90% of the nations income, spend a tiny portion of their income on taxable goods and services, the sales tax rate would need to be close to 50%.
I like the rate structure of the proposed bill. I would like to see closing loop holes and deductions (all of them), and exempt the first $25K ($50K for families) from taxes. All should come together into a balanced budget.
Yes, I do, actually... and it applies to ranches and farms as well, whether or not the family has enough assets to cover the outrageous taxes assessed at the ranch owner's death. Don't you think it should go to the children instead of to the government? I do.
Hmm, it seems your numbers are wrong... it applies to estates worth more than 5.6 million or more. Not "10 million or more." According to the IRS website. If I'm wrong, please send a link with the correct information! Thank you!
As a basket of deplorable's you cannot manage your money. You need to give it all to the wiser elites of our great society and permit them to do the good and honorable thing with it. If any is left over they might let you have some to fritter away on some meaningless enterprise. Only the government is able to care for you and look out for your best interests.
You must trust the government. Believe in Santa? Just kidding.
Pr 21:1 The king’s heart is in the hand of the LORD, as the rivers of water: he turneth it whithersoever he will.
We have the government God has established for us. We are over taxed because we have withheld from God that which is His first. Judgment begins at the house of God.