Steve King (R-Iowas) people are "actively planning their own death" to avoid "Death Tax"

[underpants]

The result of Democratic intransigence goes beyond horror and encompasses tragedy. Because of the perverse incentives created by the prospect of the Death Tax returning in 2011, many American families are faced with factoring financial considerations into end of life decisions. Some Americans, who want only to provide for their families after their deaths, are actively planning their own death by Dec 31st because living into the New Year will leave their children with no alternative but to sell the farm or business to pay the Death Tax. Other Americans will be gathered around hospital beds with the awful and diabolical decision whether to plug in or unplug a loved one. Even worse, some will decide to remove a loved one from life support at the loved one’s request, only to watch them breathe their last on the first stroke after midnight.



http://steveking.house.gov/index.php?option=com_content&task=view&id=3504&Itemid=300100


<-- ASSHAT!!

[plumbob]

1. I hope this is true. In this way, the dysfunctional assholes who value

money over life will be gone, rather than being around to spread further their mental disease.

BTW, and I know it's in the OP, it's not a death tax - the dead person pays nothing. It's a luck tax, just like winning the lottery, winning poker and so on - unearned income to the living who won enough of the DNA lottery to come into some bucks.

Inherited wealth without diminution has been a curse to this country and is why innovation does not pay - all the reward money has already been hogged by the trust fund babies.

[sendero]

3. Pretty much..

.. what I was thinking. Good riddance.

[Cid_B]

20. This is why the argument is already lost...

You don't address any points and just sound petulant and glad that someone would have to sell a family farm...

[sendero]

26. If you believe the.

... "sell a family farm" bullshit I have a bridge you might be interested in.

There are myriad ways to pass on family holdings without taxation even with a "death tax". If you don't trust your children enough to give them the farm before you die they probably don't deserve it.

[Cid_B]

30. I'm not saying I believe it...

I'm saying that those "myriad" of ways are never discussed and the message that comes from the left is "Good! Jerks deserve it"

I swear. Some folks around here would shoot themselves in the foot 20 times on the off chance that someone they don't like lives below them.

Edit: Reminds me of that idiotic letter that threatened business with a boycott unless they agreed to union terms. Makes the converted feel good, but only creates enemies and gains no supporters.

[plumbob]

31. I DID address points:

1. Anyone who thinks money is more important than their life is highly dysfunctional.
2. I'm happy that people with that dysfunction will not be alive to pass it on to their children.
3. It's not a death tax - the dead pay nothing.
4. Inheritance is nothing more than luck, and all other luck winnings are taxed.


And now I will tell you how to pass on your full estate:
Buy life insurance in the amount of the tax. Life insurance proceeds are the only non-taxable monies. Pay the tax at a huge discount, because life insurance premiums are by definition a fraction of their face.

I sold these products for years, and anyone who isn't willing to part with a few pennies on the dollar to pay the taxman is really just too stingy to live, so once again, I would happy to see someone who's pathologically stingy gone from the human race.

OK?

[3waygeek]

2. Hopefully, Mr. King is amongst them.... n/t

[sendero]

4. And BTW..

.... suicide is a crime in most if not all states. So, if you Mr. King know of someone contemplating a crime, I'd think you'd want to report it.

Asshole.

[elehhhhna]

5. Go Cheney! Go Cheney! Your family ain't rich enough!!!

Tax it as INCOME and shut up already, then.

[Mz Pip]

6. If a live person gives his estate to someone

taxes must be paid by the recipient. Why should that change just because the person is dead?

[ArnoldLayne]

7. What an idiot

[angstlessk]

8. Iowas defunding of Medicare and Medicaid will kill more people than that bill ever will

so some billionaire wants to die before 2012...MOST MEDICARE AND MEDICAID RECIPIENTS DON'T WANT TO DIE...SO LET THE SUICIDES BEGIN..AND HELP THOSE WHO WANT TO LIVE!

[Bozita]

9. Next thing ya know, King will be doing his Xtian best to talk'em out of it.

At least, that's what he'll tell us.

How 'bout some names, Steve?

We'll take it from there.

[white_wolf]

10. good riddance.

I have no use for them. The world is better off without their kind.

[Demeter]

11. Total BS

[madrchsod]

12. i would love to tell mr king about my experience of telling my sisters....

that our mother should not have life saving procedure after her stroke. several months before her stroke my mother and i were told that she had cancer and advanced lung disease that would end her life within several months.

yes, mr king we made that decision and since my mother was born in your district 90 yrs ago i think she`d tell you to go fuck yourself.

i know that there is`t a family in his district that will lose their farm or business because of the death tax and mr king they know that too.

[bulloney]

13. That crap about families losing farms because of the death tax is a canard.

Last I saw, 98-99% of farms in the U.S. are valued below the threshold where the estate tax kicks in.

It's another lie spewed out by the Farm Bureau and other RW stooges to enable the uber-wealthy to pay minimal, if any, estate taxes.

[jwirr]

18. Many an Iowa farm is values in the millions. And they have been

loosing them long before any of this was happening.

[thelordofhell]

27. Link please

Inheritance taxes have not destroyed a single family farm

[jwirr]

33. Family farm is the operative word. I grew up in Iowa and even in the

60s I saw farms sell in the millions - a distant relative sold his for 3m.

[underpants]

16. Well said

:thumbsup:

[City Lights]

14. Asspie of the highest order.

:eyes:

[Capitalocracy]

15. If they need any help with their planning, I'm available.

At a reasonable fee. ;)

[n2doc]

17. Let em- Good Riddance.

Anyone who thinks that they should kill themselves in order to avoid the small amount of taxes we actually do levy on the ultra rich is insane anyway.

[treestar]

19. They care about money more than being with their loved ones?

Or, their descendants care more about the money than about having them around as long as possible?

:rofl: These people give their true values away!

[The Velveteen Ocelot]

21. There are a lot of entirely legal ways of avoiding or mitigating an estate tax.

And they don't involve suicide or pulling the plug on Granny. If your estate has to pay a lot of tax it probably means you had a lousy accountant and/or lawyer handling your estate planning. You can make gifts of $13,000 per year per person, so if you start soon enough you can divest a lot of your estate before you croak. There are also various kinds of trusts that, if set up properly, are not included in or taxed as part of your estate.

I'm sure Steve King knows this, but he can't scare people if he talks about sensible estate planning.

[underpants]

22. I thought it was $50K

thanks

[The Velveteen Ocelot]

24. Not even close. Through 2012 the federal exemption is $5 million.

Some states also have inheritance taxes with different exemptions. For example, in my state the exemption is $1 million; estates larger than that are subject to tax.

Oops, on rereading it appears you were talking about gifts, not the estate tax exemption. The current nontaxable gift limit is $13,000 per person. You can give more than that but the gift tax rates are pretty steep.

[stevedeshazer]

23. It shows they worship money over life itself.

Like, if it were true.

[Historic NY]

25. Great that means it might save Social Security.

[jtuck004]

28. Isn't that against the law in Iowa? Is he aiding and abetting a criminal act?

Hey, Steve, there's a cell empty since they let Kevorkian out.

[TheKentuckian]

29. Hopefully some of the younger ones will pick up on the trend and cease breathing my air a quicker

and as to avoid another drop of their stale piss in the gene pool than it is already polluted with.

Who the hell cares if some dumpsterfires are so fucking greedy as to essentially off themselves to avoid paying a few cents on a dollar of their ill gotten gains off the backs of others.

Motherfuck them.

[csziggy]

32. Total BS - the wealthy have all kinds of ways to avoid estate taxes

They can give away $13,000 (the last I checked - it may be higher now) to each and every person they want to with NO TAX consequences to them or to the recipients of those gifts. For each of their heirs they can give a huge one time gift with NO TAX consequence- I think is is now up to $5 million, if I am reading the IRS site correctly - http://www.irs.gov/businesses/small/article/0,,id=164878,00.html.

So a couple can give away $10 million once and a yearly amount of $26,000 for as many years as they want - to each one of their heirs.

Aside from that, there are ways to set up trusts and annuities that greatly reduce the taxes paid.

Even if we drop back to the Clinton era estate taxes, the first $1 million would be exempt, $2 million for a couple. So it is only that top 2% that would end up paying. If they are too stupid to hire estate planners and use every loophole available, then they are too stupid to have made and kept their money until they die.

The slightly wealthy - those with a family net worth of less than $2 million won't pay taxes anyway. If their net worth is even two or three times that, they can use some of the mechanisms above to get around paying "death taxes".

So Rep. King (R-Idiot) needs to get smarter constituents if they would rather kill themselves than do estate planning.