Why do we have an estate tax? I worked hard for my money and have paid MUCH more taxes than I will ever have?

used in services and I want to give all my money to my descendants so they will never have to work. Also I find it ironic that if libs have their way and let gays marry the only people that will have to pay the death tax are parents passing their money to their children unless you allow them to marry also. married people don't have to pay the estate tax that would mean you could give all of your money to you gay spouse tax free but not your own child

Public Comments

1. So use your hard earned money had hire an attorney to do your estate planning. If you have more than 2 million in assets there are ways to manage your money so that taxes will be minimal upon your demise. Make inter vivos gifts, put money in trust, take advantage of the generation skipping tax laws. f you have an estate worth 2 million, and are worried about your taxes, fine, but don't expect sympathy.
2. In my opinion the estate tax was an attempt by dems to redistribute the wealth (thru taxes and welfare) from the wealthy to the non taxpaying poor.
3. What does gay marriage have to do with a death tax? I'm not following the connection.
4. because the government likes spending money, as long as its ours and not theres. Republicans and democrates alike
5. because the liberals have discovered that they can buy votes by taking money from those who work for a living and give it to those who do not - and since those who think the government owes them a lifestyle outnumber those who work and save and spend responsibly, the logic unfortunately works.
6. Some lazy person wanted an easy way to redistribute the wealth.
7. you must have a pretty nice nest egg. You only pay an estate tax if it is worth more than 2 million. get a good accountant. I'm sure there are a number of ways to get around this too.
8. The estate tax debate is one that Bush brought up. You don't have to pay it unless you are extemely wealthy, thats the part he left out. And as we all know, those with extreme wealth find ways of getting out of paying taxes, period.
9. It's wrong. But there is something you can do. Set up a Trust. It saves thousands in taxes. My mother passed away from cancer this year and she had a trust set up. It made everything so much easier, no probate and the taxes didn't take everything she worked so hard to build. Estate taxes even if valid should not be 1/2 of everything you own that is just absurd! People don't realize their property is put into the valuation, with the way property values are going up it won't be long till even those with little assets have to pay estate taxes. Then the heir will have no choice but to sell the property just to pay the taxes. So people of all incomes can be effected by estate taxes. Most of my Mother's money was in property. If we had needed to pay the estate taxes on what the properties appraised for we wouldn't have been able to keep them. My Grandmother is now able to keep living in my mother's home otherwise we would have had to sell it if we hadn't had the trust. Her property appraised at triple what she paid for it 10 years ago. People in areas who don't have property costs as high as the west coast might not have to worry about properties effecting the estate enough to exceed the exemption but many places do.