Kill the Death Tax!
Posted September 9, 2018 | Filed under Politics
The death tax, which is officially known as the estate tax, is immoral and illegal, and is greatly hurting our nation. Let me show you what is happening. When someone passes away and the family of that individual inherits property from that individual, the federal and some state governments swoops in and taxes that inheritance. And often, the tax rate is extremely high - around 50%. Just think about it - you own a small restaurant that has been in the family for two generations and one day you have an accident and get killed. You want to keep the restaurant in the family so you designate that your son and daughter will inherit the restaurant in your will. But then they find out that they owe a huge amount of taxes because they inherited the restaurant. They don't have that kind of money so they are forced to close or sell the restaurant just to pay the taxes. This is really sad. This happens all the time and is very immoral. Property and small businesses that have been in families for generations are being stripped from these families.
It is also illegal because it is double taxation. All the money that was made to purchase and build the restaurant has already been taxed. The government will claim that the kids that are inheriting the restaurant didn't pay any taxes on the restaurant and that it is a gain to them. This is technically true, but who cares. The taxes were already paid once.
People - we need to do something about this. We need to kill the death tax. Keep in mind that this may affect you someday. You may want to pass on something to your kids, or maybe you may be inheriting something from your parents. This has got to stop. Let's tell these lawmakers to kill the death tax. And don't just tell them once, tell them all the time. Otherwise they will just ignore it.
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