Tuesday, July 24, 2012

Death and Taxes

Life's Trail
You spend your whole life working (at least most of us do) and trying to save for retirement. You pay your taxes (if you're part of the 50%) and expect everyone should do the same. You don't look for government hand-outs and rarely take them - even when you can. You like trying to be self-sufficient because it's the American thing to do.

Along the way you try and pay your kid's way through college so that they won't have to incur debt from student loans. Besides, they never asked to be put here and it's your responsibility to give them a fighting chance to be able to survive in this world.

Nest Egg
Over time you build up some savings. You watch how these hard-earned dollars disappear when you have a President who encourages bailouts, printing money (devaluing currency), deficits, and special favors for those in his close circle of friends - like Solyndra.

Meanwhile, you get taxed on your earnings every year. If you invest in stocks, you get taxed on any dividends paid by the stocks. If you invest in mutual funds, likewise. You look at how the banks have reacted to Obama's economic policies. They won't lend money making things even worse. The interest that they are willing to pay is  a joke at best.

You pay taxes on the money you earned and are now trying to set aside for the future. The government always finds new ways to "steal" from you because they don't earn any money, they just spend it.

Democrats Solution
But wait! The Democrats have a solution to how they can raise more money instead of borrowing it. They will let the Death Tax increase automatically on January 1, 2013 to the new rate of 55%.

That's correct. You work, save, pay taxes, and put aside money over the course of a lifetime and when you die, the government is the first in line to take 55% of it. You have already been taxed on this money several times and now they expect to steal more of it when you die.

What's wrong with that picture?  That's deplorable.

Action To Take
Tell your Congressman to support HR Bill 4746 that effectively KILLS the death tax (ironically called the "estate tax") once and for all.

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