Current policy is that the government is allowed to take 35 percent from the recently deceased on any amount they leave to their families, over $5 million.
The fiscal cliff deal leaves the $5 million cutoff but allows the government to take 40 percent of the income they have earned throughout their life, from the recently deceased.
Here is a quote directly from one of those Democratic vultures that see no problem circling the dead and picking as much meat of their bodies as possible.
It will cost us $375 billion over the next decade if we keep the estate tax from going back to its Clinton-era levels
So much wrong with that one statement on so many levels, it is hard to know where to start.
First.. the definition of cost:
An amount paid or required in payment for a purchase; a price
Democrats love to pretend that it actually costs money to allow people to keep their own money. It doesn't, it wasn't theirs to spend to begin with. They didn't earn it, they didn't work for it, they didn't pay taxes on every dollar of it that was accrued. So it costs absolutely zero to let people keep the money they earned.
Moving along, the whole concept of a death tax should be repugnant to any hard working member of society that wants to make enough money to leave to their children and grandchildren so that they can live a better life than the generations that came before them.
These parents and grandparents work their whole lives to earn money, pay taxes on the money they earned, invest, then pay more taxes on the income generated from those investments. Most states require state taxes be paid. Taxes when you buy food, clothing, automobiles etc.... Then the ultimate insult of knowing the Democratic vultures feel it is their right to circle them on their death bed so they can pick more meat off their dying carcass and take almost half of their estate from those that rightly deserve it, their families.
There is something very wrong in a society that taxes a man or woman for dying.