Journal Cy Guy's Journal: Bush Literally Stealing From Orphans & Widows 15
I had already heard on Air America that Bush's latest budget proposed eliminating the vestigial $255 "death benefit" from Social Security(one commentator noted the irony of cutting this while at the same time wanting to make the elimination of the Inheritance Tax (which the GOP incorrectly call the "Death Tax" - a levy that soley effects the estates of multimillionaires). Well today I see that is not the only cut he has planned for Social Security, he also plans to eliminate survivor benefits for teenagers that drop out of school.
Long-time readers of this journal might be aware that we have close friends who lost the father/husband in their family about two years ago. Such a loss has long-term emotional effects on kids, emotional effects that may contribute to problems in school. The thirteen-year-old daughter in this family is currently having some academic problems, and I don't know if she will be able to stay in school through graduation. So this change could have a direct effect on them.
I also find it yet another ironic proposal from the President that brought us "No Child Left Behind" because it seems directly targetted to leave behind some of the most vulnerable children in our society.
death tax (Score:1)
A lot of people sitting on land they bought 50 years ago might find their estate with millions of dollars in value.
Farmers who barely made ends meet with thousands of acres of farmland might have estates valued at millions of dollars.
Hell, anybody who buys their own insurance policy on themselves has to add the proceeds for that insurance payout into their estate, and even people in lower income levels can potentially get large insurance policies. Middle class folks might wind u
Re:death tax (Score:2)
The real core problem there (Score:2)
On the insurance problem (Score:2)
Re:death tax (Score:2)
My parents bought their home in 1978 for $68,000. It is now worth about half a million. Its just a small split foyer, but its situated on nearly two acres, and within an ho
Re:death tax (Score:2)
I would suggest they look into getting a reverse mortgage which provides a steady stream of payments from the bank to the homeowners. They could then use
Re:death tax (Score:1)
A lot of people sitting on land they bought 50 years ago might find their estate with millions of dollars in value.
Farmers who barely made ends meet with thousands of acres of farmland might have estates valued at millions of dollars.
So it's not for millionaires, except when it is. When/if the estate is sold, it creates a millionaire.
It's been five years, and we're still waiting to see one person who was kicked off a family farm as a result of the 'death tax'. Kicked off for fail
nclb (Score:1)
Re:nclb (Score:2)
Re:Not giving someone else's money to someone... (Score:1)
Re:Not giving someone else's money to someone... (Score:1)
Re:Not giving someone else's money to someone... (Score:1)
If I took your money from you by force, even if I put it in a bank account with your name on it (which is NOT what happens with social security!!), it would still be theft, I'd still be arrested, and still go to jail.
Just because the government does it doesn't mean it's not theft. And they don't even do that, since there's n
more signs that america is bankrupt... (Score:2)
the death benfit is meant to cover basic funeral expenses but you can't even get thrown in an incenerator in a cardbord box for the money they're giving.
and yeah estate taxes apply to everyone from business owners, to farmers, but who wants to bet that when sam walton died they had a fleet of tax professionals making sure the absolute 'minimum' tax was paid. that's not something your typical 'family farm' is going to have available to them.
Moo (Score:2)
Without debating the actual subject (of how it affects many), i'd like to comment that even if it did only affect millionaires, that still is not appropriate.