arwalden
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Fri Jun-09-06 05:34 AM
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When Something Is Permanently Repealed... How Permanent Is "Permanent"? |
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IF the Senate had "permanently" repealed the Estate Tax... couldn't it just have easily been reinstated at a later time? Would anything prevent a new bill--one with an estate tax provision--from being introduced when the Dems are in charge?
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JVS
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Fri Jun-09-06 05:39 AM
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1. Just a guess here, but... |
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perhaps the difference is something along the lines of non-permanent is "for the next X years we aren't collecting the tax, and then we'll see if we can continue doing it" (i.e. tax cut is rescinded unless approved again through congressional procedure) where permanent means "This is abolished" (which doesn't preclude future legislators from re-creating it, but it would have to pass the procedures to come back)
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papau
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Fri Jun-09-06 05:40 AM
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2. If Dems in total control and turncoat Dems on Estate tax can not block |
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then yes a vote to reinstate would be likely to pass.
It is just difficult to raise the tax on the rich.
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Divernan
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Fri Jun-09-06 05:40 AM
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3. You're right, a new law taxing estates could be passed at any time. |
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Edited on Fri Jun-09-06 05:46 AM by Divernan
It could even be done in the very same session in which the old law is repealed. On edit: in response to earlier replies, (1) tax laws state what WILL be taxed; not what will NOT be taxed; and (2)lawmakers cannot "rescind" (cancel) a vote in order to "reinstate" a law. What they do is introduce a NEW bill to be voted upon, even if the language is identical to a previous law which has lapsed or been repealed.
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Lasher
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Fri Jun-09-06 05:56 AM
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4. Current estate tax reductions are set to expire |
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Existing estate tax repeals are to expire in 2011. What they mean by "permanent" is they want to eliminate the sunset provision. http://www.statefarm.com/insuranc/life/taxgone.htm
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rock
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Fri Jun-09-06 05:59 AM
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5. So perfhaps "indefinitely" would be a better choice of words |
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What they mean is no further action is required to sustain it. If you open a door it stays open permanently (until someone closes it) unless it has autoclose.
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arwalden
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Fri Jun-09-06 06:02 AM
Response to Reply #5 |
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... nice analogy. Thanks.
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pnwmom
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Fri Jun-09-06 06:00 AM
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6. It's only permanent in that it doesn't contain a "sunset clause," as the |
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current law does -- with its estate tax exemptions increasing until 2010, and then suddenly reverting back to $600K in 2011.
A permanent law passed now would be in effect until some Congress changed it again -- but it wouldn't have its own built-in self-destruct button.
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Freedom_from_Chains
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Fri Jun-09-06 07:28 AM
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8. It is permanent until it is repealed again. |
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