The estate tax is a tax that is levied on all property that is declared in a deceased person’s will. The tax is also known as the “inheritance tax” or “death tax.” In 2016, the estate tax rate is 40% and only applies to estates with a value greater than $5.45 million. In 2015 5,300 estates in the U.S. were subject to the tax and paid $18.4 billion in taxes. Proponents of the tax, including Hillary Clinton, argue that more estates should be subject to the tax and the threshold should be lowered from $5.45 million to $3.5 million. Opponents of the tax, including Donald Trump, argue that people who have paid income taxes their entire life should not be subject to another tax when they die.
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@ISIDEWITH9yrs9Y
Yes, and we should eliminate it
@9F82PPH2yrs2Y
The estate tax is used by the wealthy to hoard wealth, keeping it in the same circles for people who did not work for it to benefit it. It does not affect the poor or middle class much if at all.
@9JHHRYC1yr1Y
Wrong. all my family is lower middle class and we lost our small family farm because the inheritance rate was so high we could not pay it. did you know unfarmable land still sells at the same price as farmable? so the creeks and waterways counted toward the land acerage, making the inheritance tax on a small farm 280k. we could not rent out the land for enough to cover a loan. that farm meant the world to me.
@TheHillbillyLordRepublican2mos2MO
If people work so hard during their life to help their children when they die and their children are left to fend for themselves, why does the government get to take half of their work away? It's like the government is saying "We'll fine you for dying" Like wtf is this?
Not sufficiently well-informed to make a judgement.
Yes, and we should eliminate it because it hurts farmers and their families who don’t have the money to pay taxes on such large properties once the owner dies.
No, it should mirror a progressive tax equivalent to both the deceased and the inheritant’s respective incomes.
@9RH3CPQ11mos11MO
Yes, but only for people who live in the house they own. People who own multiple residences should have increased taxes.
@9RR7JNS11mos11MO
Yes, the tax system is too convoluted and a flat wealth tax should be considered as opposed to several different tax types
@9RV4TYK11mos11MO
Inheritance of anything other than real estate should be banned in order to limit the cycles of generational wealth and poverty. When they die, a person's assets should be reclaimed by the government and placed into the Universal Basic Income fund.
@8ZMCHXD3yrs3Y
it should progressively increase as the value of the estate grows higher. (small estate - no tax, medium - 10 to 20 percent - large, up to 45 percent
@9846DX43yrs3Y
No, not until we reduce our national deficit
@8XS4VJY4yrs4Y
Yes, but slightly enough so that it's an agreeable amount.
@B5WDD242wks2W
No, it should mirror a progressive tax rate based on the wealth of the deceased and the wealth of the inheritor.
@B5SMD7F3wks3W
I think that real estate taxes should be increased for private equity firms and anyone who owns more than three individual properties or more than 10 individual rental units. Those with fewer than those requirements should have their taxes lowed
@B5235CP2mos2MO
Yes, but only for people whose estates are valued at less than 2 million. Raise it for above 5 million, and keep it the same for 2-5 million
@B4PKTK5 3mos3MO
estate taxes should be set in tax brackets like income, but depend on the income of the inheritant IF they choose to claim the estate
@B4B7TKS3mos3MO
Ban Private Land Ownership, and allow the items (Except for funds) anyone deceased has owned to be given to the inheritors in their will. Also make final wills required.
@9WW5DVH 8mos8MO
It should be decided by the person should they write a will. Otherwise, should be a consistent but not so high rate.
@9WH7QJP8mos8MO
If the money inherited was already subjected to taxes, no further tax should be paid on it. There are too many loopholes that savvy heirs can use to get out of paying the taxes, and that makes it unfair to people who inherit smaller amounts. It could also be taxed progressively for amounts over a standard minimum allowed.
@9WDZ4T48mos8MO
Yes, because those whose loved ones died should keep ALL the money they inherited from said deceased loved ones.
@9W9LV5M9mos9MO
Inheritance should not be taxed, but there should also be no such thing as "step-up basis." When income is realized, that income should be taxed equal to any other income.
@9W4SPVJLibertarian9mos9MO
The estate tax should only hit estates over $100,000 with an exception for single home estates (only the land and house).
@9W2HR969mos9MO
Estate taxes should be decreased for first-time buyers. The size of the property size should help determine the cost of tax & dues needed to pay, and increase for those that aim to use property as a way of investment such as BlackRock and real estate firms that hike up prices and purchase affordable housing.
@9VY79FN9mos9MO
The government shouldn't need to lower or increase taxes, simply spend them better such a not investing so much into military. There are places in the world with much higher tax rates and yet people are happy there because of the great benefits.
@9VX5T5X9mos9MO
The death tax should be adjusted for inflation every year, and be based on how much each recipient receives, not the total value of the estate.
@9VWPX4G9mos9MO
No, after a 6 figure exemption, it should be raised to 65%, so that anything over $999,999 is taxed at 65%.
@9VTDYSZ9mos9MO
No, but you have to actually use your "estate" to not have it handed over to Comrade Cletus or Comrade Tyrone.
No, the rate should not be decreased and the threshold of $5.45M should be decreased. This question should be clarified for the average reader.
@9VNQBT49mos9MO
It should be only for people who really need it. There is a housing problem in the US, and this will only make it worse.
@9VJ4B4L9mos9MO
It should be decreased for people that only own one home that is under 700k and it should be increased for people that have homes that cost over 2 million.
@9VH7P84Constitution9mos9MO
Remove it, you're just taxing things that have already been taxed and paid for that are being given away at a time of death.
@9VFBPJZ9mos9MO
it should change with the economy so if the economy's doing well it should increase and if it's not it should decrease
@9F24KYN2yrs2Y
Depend on the personal income
@9DX79WD2yrs2Y
that depends. On what the increased tax would be if we decreased it
@9DPCW9XIndependent2yrs2Y
In should be in the middle for taxes
@9DNK5XB2yrs2Y
Depends on how huge it is.
@9DNFZTYRepublican2yrs2Y
Change the income tax brackets to make it fair
@9DLJZF5 2yrs2Y
Increase on property over 2x the National net worth. Eliminate for all others.
@9DL4CFG2yrs2Y
Decrease for lower income increase progressively for higher income
@9DK5LPV2yrs2Y
The estate tax should be broken similarly to tax brackets. The taxes taken from these people, however, should be exclusively put into public welfare.
@9DHJ6332yrs2Y
Not enough knowledge on the subject matter to give an informed response
@9DG69KS2yrs2Y
Not well enough informed to decide.
Yes, reduce the estate tax rate to 28%
Implement a Land Value Tax
There should be no tax on estate unless it's for sell
Decrease for the lower and middle class and increase for the higher class.
@9DCJCKW 2yrs2Y
Not enough knowledge to have a clear opinion
@9DCBQD8 2yrs2Y
Yes, it should be taxed as income, at a flat rate.
@9DC7SDB2yrs2Y
No, but the threshold should be raised.
@9DC5YQP2yrs2Y
This is a very complicated issue that I'm not qualified to have an opinion on
@9DC23C32yrs2Y
Estate taxes should be same for wealthy but should be reduced a little bit for average individual in order to create equality.
@9DBZ58F2yrs2Y
only a tiny bit but so the government still is ok
@9DBNCHGIndependent2yrs2Y
It should be based on the profit-making ability of the estate, not it's overall value. Whether that would be more or less, will vary.
@9D8V52W2yrs2Y
Abolish taxation!! Taxation is theft!!
@9D8HJNT2yrs2Y
Do not know enough about the issue.
Deleted2yrs2Y
No, but increase the amount people can transfer to families before they are taxed.
@9D832KN2yrs2Y
There is no point in having an estate tax when all you gave to do is set up a trust and your estate is totally shielded from taxes.
@9D74W3VWorking Family2yrs2Y
Yes, and it should be eliminated outright as the monies left behind are already taxed so this is nothing more than a double-dip.
@9D66Q572yrs2Y
It should be abolished completely
@9D644HF2yrs2Y
Increase at a highly progressive rate and adopt socialist policies
No, abolish private property and wealth accumulation
@9D5Q7RB2yrs2Y
it should be completely eliminated
@9D5FT9L2yrs2Y
Yes, after we get the deficit under control.
@8PZRCJL4yrs4Y
@8YLRV9H3yrs3Y
Yes, but decrease it at a progressive rate
@86N5Z35Independent4yrs4Y
No, but I would prefer to reform it into an inheritance tax.
@B5FQLTF 2mos2MO
It depends. If the person is with one home then I can see it is decreasing, but if this person has many estates then they should not decrease it.
@B5DZX6P2mos2MO
it should be adjusted on a case by case basis, If your parents die and you inherit a 1.2 million dollar house but you make minimum wage you should have a chance to get your parents house.
@B53KR8T2mos2MO
Decrease it for people whose estates are less than 3 million, keep it the same for 3-5 million, and increase progressively for estates above 5 million dollars
@B4VBZQB2mos2MO
No, the estate tax should not be decreased because it affects only the wealthiest estates, and serves an important purpose in reducing wealth inequality and funding public services. However, I understand concerns about small family farms or businesses and believe targeted exemptions or protections could be built in to avoid unintended hardship.
@B4GDX2YIndependent3mos3MO
Yes, overall it should be decreased and there should not be a flat rate. We should instead have a progressive estate tax based on the value of the estate. I propose: small estate - no tax, medium - 10 to 20 percent - large, up to 45 percent. Farmers should be entirely exempt from the estate tax.
@B4BP2QM3mos3MO
Rick folk with multiple houses tax estate should be increased but people/families that have a singular home should be decreased
@B3S7THS4mos4MO
No, have it set at a progressive rate but have specific funds that are not taxed but can only be used on specific things such as a house or a car or college.
@7WDP6PTIndependent 4mos4MO
No, but we need a system to make these big companies and ultra wealthy families pay their fair share and help redistribute that wealth downwards
@B3PYZBM4mos4MO
The tax should be relative to the amount of taxes they paid in life and the income they earned as a whole.
@B3NQNQG4mos4MO
Every person must be housed by the state, but every additional estate should be heavily taxed to help the state house everyone
@B34HB8P5mos5MO
Taxation should never be forced. Donations should be common sense to reap the benefits of the community you serve.
@B32NKTD5mos5MO
It should be increased for those who are very wealthy but stay the same for everyone else or even decrease
@TheHillbillyLordRepublican 5mos5MO
Yes, and we should eliminate it but only if the person/people in line for the money is/are working, and if not it should be increased severely
No, and the entire taxation of assets at death system needs to be reformed to prevent wealth carrying over 4+ generations
yes, we need to make a luxury tax for luxury assets, that's what the tax bracket should be post mortem, so we don't bankrupt poor families, and also so that the rich elite don't inherent 15 yachts for nothing
@9ZM4SBM8mos8MO
No, and increase it to 95% to prevent generational wealth that hurts the economy by creating decadence
@9ZHMWMJ8mos8MO
Yes, we should decrease overall(average), but raise significantly for very luxurious estates such as those worth more than 50 million USD.
@9Y5VHDB8mos8MO
It’s double or triple taxation. Just have high sales tax for luxury items instead and do away with all other tax.
@9XQNVS98mos8MO
Eliminate the estate tax for all assets/income which have already been taxed. For all assets which have not been taxed, they should be taxed at the time the asset changed hands.
@9XGC9T5Libertarian8mos8MO
We need to decrease it, but we also need to look at our tax rates on the whole to see where we can really improve revenue for the things we need to pay for as WE THE PEOPLE.
But also get our budgets more in balance/aligned with benefitting citizens & our future.
@9X9PXFY8mos8MO
Remove it in favor of taxes that target the rich in more efficient ways during their lifetime and protecting the family from added stress after their family member already has died.
@9X84NRJ8mos8MO
No, I am satisfied with the current rate. But also I don't quite understand the question so I'll just say that I side with the Opponents of the Tax.
@9X45F9K8mos8MO
No, make it progressive from 1mil and in the case of property have it payable at sale so inheritors can live in the property as the primary residence if they wish to without the immediate tax burden.
@9WY2K9B8mos8MO
Create a bracket system whereby those of large and larger estates are taxed more than those with average or smaller estates.
@9TBLM9K 10mos10MO
Yes, it defeats the purpose of building generational wealth. If the estate is already paid in full, whoever inherited it shouldn't be taxed outside the bounds of their individual income rates. Estate tax increases the potential of these homes just going back into rotation to be purchased, which in our current economy, might not actually be sold as housing costs have skyrocketed. Encouraging people to pass down their homes to their loved ones should not inevitably result in homes or business that have been in a family for generations being practically stripped away from them.
Should be increased on the ultra wealthy and decreased on the lower wealthy and lower as well as on family farms
@9SY8TLW10mos10MO
20% Estate Tax: On estates valued between $10 million and $50 million. 35% Estate Tax: On estates valued between $50 million and $100 million. 50% Estate Tax: On estates valued above $100 million.
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