Thread: Estate Tax Repeal Would Harm Latinos

Undercutting the American Dream: Estate Tax Repeal Would Harm Latinos 4/20/06 Free White Paper

This white paper issued by the National Council of La Raza concludes that repeal of the estate tax would exacerbate the wealth gap between Latinos and other Americans and reduce the amount of revenue available for the community’s key policy priorities. The paper examines how the estate tax works and its effects on taxpayers, the budget, and charitable giving. The paper notes that, contrary to public perceptions, the estate tax applies only to a small number of families; however, it does help to alleviate imbalances in the current tax system.



Now mind you all, the part I highlighted is what they are most concerned about, money for their own. Gee, this is not racist or anything, is it?

So they are upset that rich Americans (cause I don't know of any poor/middle class American who owns an estate) would get to keep their money instead of funding freebies for illegals?

GOOD!

(cause I don't know of any poor/middle class American who owns an estate)

Don't let the fancy name fool you. It just means any assets you have. From money in your checking or savings account, to your car or home etc. no matter how modest it is. A plain Will, will not make it so the people that inherit what you leave won't have to pay taxes on it. Otherwise they freeze your assets and it goes to probate and before long after they all get their cut......not much if anything is left.

Plus if theres things that are needed right away and you figured they could just write a check etc......you can't, the account is frozen. If it's a spouse there's even a way they can freeze half of everything....or something to that effect. It's not that you won't get it back......it just takes time. It's far more complicated than I can explain, but it's more protection than just a will. Many Senior centers offer "Estate Planning" for free. That's how my parents did theirs. It was literally a God send. They are right there to handle any legal questions for those left behind. There's tons of scammers out there and they handle all that. Sometimes insurance companies decide not to pay bills when they are supposed to. Or charge you twice hoping in the families grief they won't notice. If you have life insurance they can put the pressure on so people get the money in a timely manner etc. I strongly suggest people do that. Even though my parents had everything laid out as best as humanly possible.....it's still confusing and stressful for those left behind. I think I would have lost it if all those things weren't done. I don't know how people do it when it's unexpected. My Aunt passed and her kids are STILL at it 7 years later. You can do your living will (whether you want extra-ordinary measures taken etc. whether you want organs donated, etc) so your wishes are known and the family isn't in turmoil. I had mine both going down at the same time even though they died a year apart.....and trust me........what they did was the best thing possible.

But back to the article......I don't think it should be taxed if you inherit it. It's already been taxed and they are just wanting to tax it again. Anybody with a whole lot of money already has protection in place and ways and means to avoid it. It is the middle class and poor who loose more. And I'll be damned if I want mine or my parents hard earned money going to support any of those orginizations because of death tax.

What really gets me is the audacity of NCLR to make this an issue where they decry the loss of tax revenue for the benefit of their own race, and you know that is what they are getting at.

I do not think that we should ever have a "death tax". I think it is appalling, in the least. To me it is saying "you lost someone you loved, and they left you what they had, now we are going to add to your grief by taking more of it than we already did when your loved one was alive!".

Furthermore, for racist groups like NCLR to have their fingers in it really shouts out their goal, to advance their racist ideas about their own race, nothing more, they are not concerned about other races at all. They want to be sure that illegals can keep coming here and having their anchor babies funded.

The paper notes that, contrary to public perceptions, the estate tax applies only to a small number of families; however, it does help to alleviate imbalances in the current tax system.

Socialistic talk for sure.

The top 1%, the most wealthy, pay 29% of the federal taxes and the top 5% pay 50% so for years they already paid most of the taxes in the country. http://www.allegromedia.com/sugi/taxes/

So a family works hard all their life to accumulate a lot of money, they write a will expressing their desire of where their money will go but the government has to jump in and take a cut. I have always felt this is sick and wrong. Tax on death!

And for Latinos to express they want their fair cut from this situation is just as sick. They should be ashamed. The wealthy help pay for their programs, etc. while these people are living and expect more of their money after they die. Wrong, wrong, wrong.

What really gets me is the audacity of NCLR to make this an issue where they decry the loss of tax revenue for the benefit of their own race, and you know that is what they are getting at.

How about the audacity of the fact that the NCLR even exist and that they are given some sort of credence and/or national voice by the government and the MSM?