• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • Death Tax: Why Should the Government Get "Something for Nothing"? (VIDEO)

    The federal estate tax, better known by its more accurate moniker the “death tax,” is poised to rise to 55 percent with just a $1 million exemption in 2013 should we fall off the “fiscal cliff.” Today, the death tax is 35 percent with an exemption over $5 million. While lower than what it could be next year, this is still too high.

    A death tax at any rate is unfair, because it robs families of businesses they have built over a lifetime.

    Take Bruce Nevis, owner of Grand Harvest Wines, for example. When he dies, his family could be forced to sell the business he and his son built together. He resents the idea that his son Jeremy will be getting “something for nothing” by inheriting his business. Jeremy has worked on the family business every day, even before the company had officially opened.

    Mr. Nevis has been saving his money to pay the death tax—money that could have been used to expand the business, offer more products, hire more employees, and raise salaries. Even businesses worth a few million dollars do not necessarily have the money to pay the death tax, and many are forced to sell. It’s actually the government we should be worried about getting “something for nothing.”

    Posted in Economics [slideshow_deploy]

    5 Responses to Death Tax: Why Should the Government Get "Something for Nothing"? (VIDEO)

    1. Red47 says:

      Well said. Common sense is not the language of the Left.

    2. Bobbie says:

      What is wrong with these people? Their obsession for everyone's money is disturbing. The president making judgment against wealth is disturbing. His attack on businesses is disturbing. His cronyism is disturbing. The cost of their governance is disturbing. Their governance is disturbing. The spending in their control is disturbing. Protecting all those in government and all those supporting government is disturbing. Helping themselves with or without union backing to limitless pay and benefits is disturbing. Misconstruing the peoples' constitution is disturbing. Relaying false information in all regards domestic and international is disturbing. Communicating by fabricating and coded messaging is disturbing. The population of his czars is disturbing. Doing whatever he can to give people what they want without standing on principle is disturbing. Distorting rules so some don't have to take the full responsibilities is disturbing. Wanting people that do for themselves to "do a little bit more" by giving up what they earn while he provides for other people to KEEP THEM from doing for themselves is disturbing. His unwillingness to motivate self reliance is disturbing. His unwillingness to respect and stand on principle is very disturbing. His determination period is disturbing but determination of "what's fair" to people when it's not his role or his business is disturbing. His attack on Christian faith is disturbing. His infusion into education is disturbing. His job creation off the backs of tax payers is disturbing. His policies that lead to deliberate and "certain" consequences is disturbing. His unwillingness to adapt measures to avoid consequences is disturbing.. His refusal in accountability is disturbing. This isn't what America voted for. Don't lower her for this!!! Stand tall and strong and get this unethical attitude out of America! If he can't be equal or a better man then his predecessor, he isn't fit for American leadership! Please STOP THIS!!!!!!! Nobody's livelihood should be taken from for the benefit of government!!!!!!!!!! Whoever benefits from government can pool their money to pay!!!!!!

      It's as if he takes steps to ensure HIS RESULTS WON'T come to where "everyone benefits!!!!…"

      • Teresa says:

        Everything you have written it so true! Obama displays genuine hate for America and for the hard working people that have made our country great. I m fearful as to what he is going to do in the next 4 years.

    3. @chef_riggy says:

      Mr. Nevis is right. Govco is why I will never have "my own pushcart" (I love that term). I want to own a B&B type of thing but as of 11/6/2012 it can never happen. Now I am investing my minimum-wage earnings heavily in gold (tangible gold coins which I physically possess) and lead (in sizes ranging from .22LR to 12ga) (min-wage? I have a degree in culinary management and am a certified pastry chef, but no work in that field). I can't have children (and don't want one anyway) because that would require a "partner", and as litigious as this society is, I fear a lawsuit or worse and I can not afford the judgement or jail time (all a woman need do after regretting consensual sex is tel a cop she said no–10 years). But if I DID have a kid, and did my own B&B thing, nah, just a hot dog pushcart; if I had my own kid and a hot dog pushcart that I spent $40 a day on supplies, and sold $150 worth of food a day, and built my cart into a net revenue generator of $110/day, then when I died and my kid took the cart, Govco cut the cart in half and took one half rendering the cart useless thus destroying the revenue generator that made $110/day. Ugh! It just makes me sick to my stomach.

    4. G Arneman says:

      He's disturbed!!
      And you are so right.

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.

    ×