Republicans called it the "death tax". They figured out how to reward millionaires while sticking the middle class with the bill and at the same time, win the middle class vote.
Nobody cared when it was called "the Estate Tax" because nobody had estates. Then Republican pollster Frank Lutz got together a bunch of focus groups and tested words that provoked a negative reaction with middle income folk. They all pinged on "death tax". Republicans had it! But how would they hide the big numbers to keep you from finding out? To understand, you have to understand how it works today: As part of the 2001 tax cut package, those dying this year can pass on up to $1.5 million to non-spousal heirs free of estate tax. (Any amount left to a citizen spouse is tax free.) In 2006, that exemption rises to $2 million and in 2009, to $3.5 million. In 2010, the estate tax disappears and in 2011, it springs back to life in its pre-2001 incarnation. However, Mr. Bush is currently pushing to repeal it altogether in 2011. So that's how much millionaires are getting, but how much is it costing you? If it's totally repealed in 2011, by 2015 it'll cost you $290 billion**! But wait! There's more! With the current rules it'll only cost you $9 billion until 2010. That means the real costs don't start piling up until Mr. Bush is long gone and you Bush voters have completely forgotten what you were so outraged about. The other $281 billion won't hit you until 2010. Well, if the Death tax is "immoral" why not just repeal it now?? Because then Mr. Bush couldn't dupe you by charging it to your credit card. You see if the tax were repealed today, it would cost $154 billion through 2010. Which is easier to hide? $9 billion or $154 billion? Y'ALL BEEN BUSHWACKED! Zoink! * From Death By a Thousand Cuts, The Fight over Taxing Inherited Wealth ** All numbers from Congress' Joint Committee on Taxation Parts also taken from Forbes. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Find out how CFTicket can increase your company's customer support efficiency by 100% http://www.houseoffusion.com/banners/view.cfm?bannerid=49 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:152397 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
