Friday, December 10, 2010

"FOR WHAT IT'S WORTH"...I just have to do a POLITICAL topic...& if you do watch Political TV...the New Buzz Phrase is..."...holding the American people Hostage..."

Recently, And I am Defending the President here... the President reached an agreement with Republicans to "keep the Tax rates as they are" & the Democrats are going Bonkers! The President also agreed to a 2 point reduction on Employee taxes towards Social Security (from 6.2% for employees to 4.2%) for a Year...Employers still need to pay 6.2%. The President also agreed to extend Unemployment Benefits to...


  • people that have been Unemployed for less than 99 weeks (that is just under 2 years)
The President also agreed that we should Raise the threshold on Estate Taxes from a $1million per Estate to a $5 million per Estate... Estate Taxes are those that the Guvment takes after your Parents Die & their worth is more than the Threshold...

  • 2010 Threshold is $0.00 (this why so many Liberals believe George Steinbrenner's Family Killed him this year!). The Guvment would have gotten about $500 million if George had died Next Year! Instead, George's heirs got the $$$ that George & his Dad & Granddad earned in their Life Time.
The President agreed to raise the Threshold to $5 million & make the Tax ONLY 35% as opposed to the Democratic Party desire to raise this Estate Tax on your Assets that you earned & paid Taxes on to a Whopping 55% on anything your due to Inherit that is more than $1 million! Again, the President wants to make it $5 million and ONLY 35%, while Nancy Pelosi wants to make it 55% and anything over $1 million...
  • The Democratic House is LIVID!!! over this...
Now, most people I know do not have a Net Worth of $1 million, let alone $5 million...But! In your own way aren't you striving for it? If you get there...and you have played by-the Rules...working hard, paying Taxes, being a productive citizen...would you want the Guvment to come Sweeping in after you are gone & take ANY % from your Heirs?

  • I believe I have run out of Paper...thank goodness...Plus...I believe I have lost the interest of those w/ an Estate of less than $1 million...

4 comments:

Solly Hemus said...

You now have one comment on this political topic.. I don't have an inheritance, so therefore, this doesn't apply to me..Nor does it hold my interest as a topic of conversation or concern...forgive my apathy, though I do appreciate the attempt. Say g'nite Gracie!

Willy said...

Amen, Pea.

Anonymous said...

Very well put Pea. If the threshold is $1M or $5M once it takes effect it's only a matter of time before the threshold is lowered and the estate of middle america approaches the threshold. If your house is $250K, life insurance $250K, cars, secon d home etc and your'e at the threshold. Life i s may not be included; not sure.
But my point is once it's in it stays and gets bigger and eventually nets the little guy.

Anonymous said...

What did the govt do to deserve what a family has saved?

1954: headed to Nana's for Thanksgiving supper...

  They did it again...