shempmcgurk wrote: >--- In FairfieldLife@yahoogroups.com, new.morning <[EMAIL PROTECTED]> >wrote: > > >>--- In FairfieldLife@yahoogroups.com, Bhairitu <noozguru@> wrote: >> >> >>>And I *do* want to make it clear the progressive tax would work >>> >>> >this > > >>>way: once you had an estate valued at 12 million the progressive >>> >>> >tax > > >>>would kick in. >>> >>> >>At what rate(s)? At the current 35-60% (aproximate numbers) >>progressively? Or are you actually suggesting a a 100% tax after 12 >>million? If so ---- Wow! O to 100% taxataion at 12 million!!! Wow!! >>Nothing AT ALL progressive about that. Progresive taxes have a long >>hist ory, NO ONE that I can recall has ever suggesting anthing so >>draconian. >> >>Still, your proposal is far more liberal than current laws that >> >> >start > > >>taxation at just over a million and then tax at 35 to 60 % >>progressively. >> >> > > > > > >In 2006, the estate tax exemption is $2,000,000 per person >($4,000,000 for a married couple) and that's going up to $3,500,000 >per person in a few years. > >The highest rate is 46% (it starts at, I think, about 38%). > > > > And why did it go up? Well those old homes that mom and dad bought back in the 30's and 40's for a song (not then but now) are sometimes worth as much as a $1 million. Many including the own I own are worth over $600K which was the old exemption. My aunt's home in the South Bay is probably worth over $1 million and it is nothing but she is just located in the right place (the house cost something like $2500 originally).
While we're at the minimum wage needs to go way up. Oh boy, I'm sure we'll hear the whining here on that. :) ------------------------ Yahoo! Groups Sponsor --------------------~--> See what's inside the new Yahoo! Groups email. http://us.click.yahoo.com/2pRQfA/bOaOAA/yQLSAA/UlWolB/TM --------------------------------------------------------------------~-> To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
