"You Asked and We Listened"
Friday Forum - December 17, 2010
Replies to This Discussion
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Permalink Reply by barbara steinhauser on -
Do not like the increase in the deficit!
I would like to see some overall reduction in government compensation levels and reduction in federal and state work force by 20%.
We can then safely extend the current tax rates for all.
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Permalink Reply by Linda Kirker on -
I completely agree with Barbara's assessment. We MUST start reducing our federal deficit and debt or we will become more and more vulnerable and impotent internationally, Government should be allowed to spend only what it takes in, a balanced budget!
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Permalink Reply by kathy pecora on -
I am. But I would love to see a complete revamp of our tax system.
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Permalink Reply by Diana Ringer on
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I am VERY HAPPY the tax-cut plan was extended.
What I would like to see next is the estate tax repealed. What makes the government think it's entitled to any portion of what I leave for other people? It feels like double taxation.
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Permalink Reply by barbara steinhauser on
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It's at LEAST double taxation.
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Permalink Reply by Sue Jones on
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You are very fortunate to have several millions to worry about this tax. Plus, if your stocks and home have appreciated, you have never paid tax on this appreciation. So you can leave several million dollars without worrying about double taxation.
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Permalink Reply by Sharron A. Clark on -
??????
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Permalink Reply by barbara mossman on
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It is double (and in some cases triple) taxation!!!
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Permalink Reply by Sue Jones on
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In 2009, you and your spouse would need an estate of over $7 million before you pay inheritance tax. You should see a CPA - even at this level, you probably don't need to pay it. There are many kinds of trusts that you can set up to avoid paying the tax and you are allowed to gift family members quite a bit to avoid it. You can also pay your grandchildren's school tuition and medical bills to avoid this tax. So don't worry, you can probably avoid tax on many millions of dollars.Before 2001, you could only shelter about $1,200,000 - however, with gifting, putting your home in a trust, paying grandkid's tuition, you could still keep quite a few million dollars.
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Permalink Reply by Diana Ringer on
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I am not happy about the deficit either, but ... Without a budget, how does Congress know what it can and cannot afford, where optional pools of money can be found to pay for things. I like what Megyn Kelly's mom put inside her pantry:
"A lack of planning on your part, does not constitute an emergency on my part."
Congress has failed to plan, and therefore planned to fail (on some level). There is a reasons why "the basics" are called the basics.
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Permalink Reply by Jennifer L. West on
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I am happy we extended the tax cut, but we didn't make it permanent, and we gave up too much to do it. I would rather we waited until the new congress came in. What we have now a "clustermuck!" We said no earmarks, and we have them. We have people depending on the government for 13 months more, and those people may never return to a fruitfull job, after being on the dole that long. And we have now the estate tax on top of all that. No it was not a compromise!
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Permalink Reply by Sue Jones on
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Of course a lot of people on unemployment are over 50 - they have the nerve to suggest that companies shouldn't discriminate against them due to age. If a company wants everyone to be an attractive 30 year old that is their right. These old folks who have worked hard all their lives and lose their jobs due to mergers should just learn to live on less. The important thing is for business to make profits and pay their shareholders and executives well - that will help the economy!
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