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Will Obama Outlaw the Inheiritance Tax?
When you die, the US Federal government levies a tax upon everything that you leave behind for others in your close family to inherit. This tax should be illegal since everything you have was already taxed when you earned it. Why should it be taxed again when it passes to your spouse and children, etc., after you die?
3 Antworten
- Chuckie OLv 7vor 1 JahrzehntBeste Antwort
The congress under Obama (since the president has no authority to outlaw taxes) will almost surely keep the Inheritance tax, and probably will restore it to pre-Bush tax cut levels (Note: congress with Bush as president, see above).
Democrats "believe" in taxing transfers of wealth, although it usually only catches the unwary.
- StephenWeinsteinLv 7vor 1 Jahrzehnt
The U.S. government does not levy any "inheritance" tax.
The federal government levies an "estate" tax, but on only some, not all, of what you leave behind. Only Congress can outlaw this tax.
The "inheritance" tax is levied by the state government, not the federal government. Only the state governments can outlaw this tax.
Obama cannot outlaw either tax. No President can outlaw any tax.
- Anonymvor 1 Jahrzehnt
It is estate tax and is essentially a tax on capital gains. You have to be a multi millionaire before it kicks in.
The president does not have the authority to "outlaw" it.
