Great news from across the pond as the value of British estates required to pay inheritance taxes (i.e., the death tax) is being raised. See the article in the EoD News Archive.
EstateofDenial.com doesn’t like people looting assets of the dead – whether it be modern day grave robbers or any government. People in the U.S. need to be aware that while our federal estate tax is being phased out to complete repeal in 2010, it will return at a rate of 55 percent in 2011 if Congress fails to act.
Our friends from Americans for Prosperity recently wrote how “the U.S. Constitution prohibits seizing a man’s estate at death as a penalty for treason, but Congress and the IRS see nothing wrong with seizing more than half of an estate as a penalty for wealth accumulated through hard work and striving to achieve the American Dream.” This could easily become a reality in 2011.
We’ll be writing more on this topic in upcoming weeks. Meanwhile, during this election cycle, we encourage you to ask your candidates their stance on the death tax. Do they support rights of inheritance and other property rights? Or do they see the deaths of hard-working taxpayers as an opportunity to fill government coffers while denying the passage of wealth, a long-standing American tradition, from generation to generation.
Please also remember that we’ll be in Austin (TX) on Wednesday, September 10, as The Federalist Society Austin Lawyers Chapter and Americans for Prosperity sponsor a luncheon presentation on “Inheritance Rights in a Free Enterprise System.” Click here for more information. We hope our central Texas area readers will plan to attend.