Should inheritance 40% tax be removed

[B.UTLER]

I kinda agree with trump that it kills small family business by taxing it too high. Though he may have an agenda so his children won't get taxed.

[BostonGuy]

The estate tax only affect .02% of households in the U.S. The estate tax exemption was $ 5.45 million in 2016.

Given that you are married $10.9 million of your assets would be exempt from federal tax when you and your wife die.

[-Swizzy-]

I think it should be higher. Why should kids inherit their parents hard work? They don't deserve it.

My parents are rich btw.

[Phenom]

The federal government doesn't tax inheritance the "death tax" is cons code word that was researched and tested to get the morons ( just so happens to be a significant percentage of their voters) railed up

[Scipio2009]

I kinda agree with trump that it kills small family business by taxing it too high. Though he may have an agenda so his children won't get taxed.

There's no estate tax on any estate that's less than $5 million I believe

How many actual small family businesses are worth over $5m?

The family farm isn't getting hit, the family restaurant isn't getting hit, the mom-and-pop local store isn't getting hit, the Father & Son's service business (plumbing, landscaping, electrical, barber, etc) isn't getting hit, and even the chain of car dealerships isn't getting hit.

Don't be fooled by the rhetoric.

[.!WAR MIKEY!.]

I think so, i think its stupid even though is only affects a very small % still its their money they earned and made and as so should be able to pass it on to whoever without this double taxation, with that being said theirs numerous ways around it, doubt anyone really paying it to the full amount.

[BrometheusBob.]

The estate tax only affect .02% of households in the U.S. The estate tax exemption was $ 5.45 million in 2016.

Given that you are married $10.9 million of your assets would be exempt from federal tax when you and your wife die.

Didn't know the bar was so high

Good post

[hayZ]

I think it should be higher. Why should kids inherit their parents hard work? They don't deserve it.

My parents are rich btw.

Depends. In the UK it's criminally low compared to the US. I'm reading here that its like $5mill and double that if they are married? In the UK, it's like £325,000 and double that if they are married....significantly lower. With how much the living cost has increased, it's borderline criminal that it should be taxed at 40%. You'd be lucky to be able to buy an SMALL apartment in London for that much now.

Why is the government getting involved in this? If I die, my money should go to whoever I want it to go to, all of it. For the government to tax such a low number at such a high rate is ridiculous. I'd understand if it was a seriously high figure like the states is but even then.

I think they shouldn't be taxed higher than 20% anything else is robbery. It's not the governments money, they didn't work for it so why are they getting such a high percentage of my money? Ridiculous.

[B.UTLER]

Smh trump deceiving Americans again about this inheritance tax. He wanted it gone so his fellow multi millionaire/ billionaire freinds get the benefits

It's on Fox News he said it affects family owned small business

[B.UTLER]

During his speech on tax reform Wednesday President Trump called for the repeal of the estate tax, saying “To protect millions of small businesses and the American farmer we are finally ending the crushing, the horrible, the unfair estate tax.”