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Happy Panther

2013 will be a bad year to die.

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oh good, well then just cite your sources and we'll go from there

ps: why is it ok to be a lazy rich kid, but not a lazy poor kid?

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The owner of the company I once worked for once explained how evil the estate tax is.

He told me how after his father died, rather than selling the rest of the family business off and going traveling while living off his inheritance, the estate taxes forced him to take over the company, and grow it to the $60 million, 45 employee company it is today.

It was then I realized how far we had fallen as a country.

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http://washingtonexaminer.com/632281-family-farms-threatened-by-new-death-tax/article/2515658#.UMeRqKViZjY

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Well if you can't come up with new material...

http://www.washingtonpost.com/wp-dyn/content/article/2005/07/23/AR2005072300741.html

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Shows you that's not the first time we've heard that myth.

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Funny how this is a topic now.

I got a letter in the mail about this on November 19th.

It reads as a result of the re- election of president Obama, there exists the real possibility that the estate tax exemption will drop from the current exemption of 5,000,000 to the old limit of 1,000,000. The estate tax rate will be over 50 percent before distribution to any heirs.

For this reason ,prudence dictates for those with sizable estates like your uncles that steps are taken to reduce their estates while making sure the estate retain enough funds to care for Him during his lifetime.

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Is it bad I already knew what most of the responses and who would post what before I opened this thread.

Work hard your whole life.

Have a nest egg to leave your kids.

Forced to give 55% to the Feds.

and many here thinks thats ok...

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maybe those kids shouldn't feel so entitled

maybe if they knew the value of HARD WORK they wouldn't need a handout

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Is it bad I already knew what most of the responses and who would post what before I opened this thread.

Work hard your whole life.

Have a nest egg to leave your kids.

Forced to give 55% to the Feds.

and many here thinks thats ok...

A). Nobody pays 55%. The majority of those that have to pay (about 1%) end up paying an effective rate of about 5%.

B). It's a direct transfer of wealth. Name me a form of direct transfer of wealth that isn't taxed. Just cause someone wins the genetic lottery instead of the actual one doesn't mean they should be exempt.

C). It prevents the type of uncreative wealth hoarding you find in Central American economies, which helps everyone in the economy.

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