Friday, August 2, 2013

Windsor vs. U.S. a great decision; Death Tax a travesty

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Windsor v. United States   was a great decision for many reasons.  Among those reasons, it brought justice to a lady who would otherwise have been unjustly forced to pay a tremendous sum in estate taxes she shouldn't have had to pay.   The reality is, the so-called "Estate Tax" is really a Death Tax that cheats small businesses and farmers out of their respective businesses and land so that rich, faceless, arrogant corporations can snap up the businesses and land at fire sale prices.  The little guy/gal ---who has worked his/her whole life to build a business and make it a success --- dies one day.  That day, his/her heirs find out they owe a fortune to the federal government in Estate Taxes.  The heirs have no money; the money is tied up in fixed assets, i.e., the farm land or the business itself.  In order to pay the huge estate tax, the heirs are forced to sell the business.  Who buys it?  

The large corporations, of course.   The corporations pay no Estate Tax or Death Tax because a corporation never dies.  Only human beings die.  And because the heirs are forced, at a moment's notice, to pay the tax, the heirs have no negotiating power.  The tax must be paid immediately and the heirs had not expected the family member to die when and how s/he did.  So the corporations snap up the family farm land at fire sale prices.  Or the corporations put out of business the small, family owned business thereby eliminating competition.  

The Estate Tax is designed to help corporations put small businesses out of business.  That is its only real purpose.  

The Estate Tax generates very little revenue and affect only a limited number of people.  But just because only a few people are treated unjustly by the Estate Tax does not mean it is a just tax.  Even if the Estate Tax only hurts a minority, that minority is being unjustly treated and unjustly hurt.  An injustice is an injustice regardless if it affects a minority of folks or if it affects everybody.  

The only purpose of the Death Tax is to help corporations takeover small businesses.

Check out this site:

http://www.policymic.com/articles/57775/gay-or-straight-we-re-all-getting-screwed-by-the-estate-tax

2 comments:

  1. How to Avoid Inheritance Tax legally is simple if you know how. Some say that there are only 2 sure things in Life, “Death and Taxes” – we would differ with that and say that there is only one sure thing in life as Inheritance Tax is optional. So, why pay it if you legally don’t have to? The Tax Experts are experts in how to avoid inheritance tax and it is our pleasure to show you too.

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  2. Thank you for sharing, I couldn't agree more. Selling a family business can be difficult and present complications and risks. It’s important to seek help to overcome such obstacles.

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