Estate Tax

‘Only Morons Pay the Estate Tax’

As he raised estate tax rates to fund work programs during the Great Depression, Franklin Delano Roosevelt said, “The transmission from generation to generation of vast fortunes by will, inheritance or gift is not consistent with the ideals and sentiments of the American people.”<p>It’s plenty …

Opinion

Congress, Trump poised to wipe out New York's estate tax

Albany's decision to match federal law could cost the state bigly<p>A few years ago Gov. Andrew Cuomo and the state Legislature made New York's estate …

Retirement

Estate planning: What is the 'death tax,' and who pays it?

Will the government tax your estate when you die, taking assets you hoped to hand down to your heirs?<p>The answer, under the current rules, is that it depends. Both the federal government and some states charge an estate tax based on the value of property you own at death. But the estate tax — also …

Retirement

The 0.2% of Americans exempted by the GOP estate-tax plan (including the Trump cabinet) have never paid tax on their millions and never will

The Republican tax plan will exempt the 0.2% of Americans who pass on estates of $5.49 million (each) to their heirs, a tiny elite that includes most …

Retirement

House passes GOP tax reform bill

The House of Representatives has passed a bill that would result in the biggest overhaul of the U.S. tax system in 31 years.<p>It would reduce the …

Business

Why lawmakers keep trying to whack retirees - MarketWatch

It’s one of the biggest, yet most undercovered stories of 2017: the attempt by the Trump administration and Republican leaders in Congress to take a …

Retirement

Repealing the Estate Tax Would Plunge Charitable Giving

House Republicans’ latest tax plan proposes reducing the number of estates that would pay the estate tax over the next six years and eliminating the …

Liberal View

This Wealth Plan Beats Death and Taxes - Bloomberg Gadfly

As House and Senate Republicans pursue competing tax overhaul plans, one big disagreement is the estate tax. House Republicans want to repeal it in …

Business

More than 400 millionaires urge U.S. Congress not cut their taxes as part of Trump's economic plan

More than 400 American millionaires and billionaires are sending a letter to Congress this week urging Republican lawmakers not to cut their …

Canadian News

Why America’s future could look like a Renaissance painting

Buried in the Republican tax plan is the creation of an old world-style aristocracy<p>This piece originally appeared on DCReport.org.<p>Bias for the super-rich, at the expense of everyone else, lies at the heart of the tax bill that Republicans hope to rush into law without public hearings. The most …

U.S. Politics

The Arguments For And Against The Estate Tax

The tax, which applies to inheritances of more than $5.5 million, is one point of contention as Republican lawmakers push for a federal tax overhaul.

Taxes

Read the Letter

Dear Member of Congress:<p>We are high net worth individuals, many in the top 1%, who care deeply about our nation and its people, and we write with a …

Social Justice

Collins says she's 'still trying to change' Senate tax bill

Collins told reporters that it's "premature" for her to say how she will vote on the bill but "would like to see more of the tax relief skewed to …

Retirement

The Very Bad Arguments for Killing the Estate Tax

It’s minuscule, cumbersome, and easily avoided. It’s also important.<p>The estate tax, which the House GOP bill would repeal and the Senate GOP bill would cut, is a microcosm of a long economic debate in the United States.<p>One must emphasize here the prefix <i>micro</i> in <i>microcosm</i>. Revenues from the estate …

Social Justice

House Bill Repeal Of GST Would Defuse A Ticking Time Bomb For Trust Fund Kids

One of the most important provisions of the House version of Tax Cuts And Jobs Act is the repeal of the Generation Skipping Tax. GST repeal is not getting much attention. The scoring of GST is lumped in with the repeal of the estate tax at $172 billion. The GST has probably not produced much …

Entrepreneurship

I’m a multi-millionaire. Of course my heirs should pay estate tax

Republicans in Congress recently revealed their proposal for tax reform, calling for the elimination or reduction of the federal estate tax, which is …

Retirement

Estate tax repeal gets downgraded in Republican tax maneuvering

The longtime conservative goal of repealing the estate tax slipped as a top priority as Republicans began the hard work of legislating tax reform …

U.S. Congress

How your taxes could change next year

We’ve now got competing tax-cut bills in the House and Senate, which means some epic political battles are underway over who will win and who will …

Personal Finance

House Republicans Raise Red Flags Over Senate Tax Bill

Differences on estate tax, state and local tax deduction could cause issues<p>The tax overhaul bill the Senate released Thursday could create problems …

U.S. Congress

‘Voodoo Economics’ Makes A Comeback In Republican Tax Plan Enriching the Rich

Republicans in Congress recently released more details of their tax plan, which they say would boost economic growth and lower the burden on …

Economics

“I’m Embarrassed for Him”: A Requiem for Gary Cohn

“The president is one large S.T.D.,” one former Goldman partner says. “And if you’re in close proximity to him you’re going to be tainted.”<p>Before he joined the White House as <b>Donald Trump’s</b> chief economic adviser, <b>Gary Cohn</b> hit a ceiling on Wall Street. After a rapid ascension from selling aluminum …

Donald Trump

Senate, House Have Different Plans for Estate Tax

November 9th, 2017, 9:06 PM UTC<p>Barry Ritholtz, Ritholtz Wealth Management CIO and a Bloomberg View columnist, and Bloomberg's Mike McKee discuss the …

Business

GOP Sen. Mark Walker On How His Party Plans To Pass Tax Legislation By The End Of 2017

Senate Republicans have rolled out their tax plan. NPR's Robert Siegel talks to Republican Sen. Mark Walker of North Carolina about what's in the legislation and how the party plans to get it passed by the end of the year.

Politics

Worries over tax reform delays

U.S. stock index futures are heading lower, while the dollar is headed for its biggest weekly drop in a month, as investors fret about tax reform …

Business

Senate bill delays corporate tax cut, doesn't repeal estate tax - MarketWatch

The Senate Finance Committee on Thursday released its version of a tax plan, which differs in some key respects from a House panel's. The Senate …

Taxes

Estate tax not fully repealed in Senate tax bill

The Senate proposal to rewrite the tax code will not include a full repeal of the estate tax, according to a senator briefed on the …

Taxes

Revised House Tax Bill Calls for Higher Repatriation Rates

A sweeping amendment from the chairman of the House tax writing committee transformed key provisions of the GOP tax overhaul bill to boost the rate …

Retirement

Analysis: Who really pays the estate tax? Not who you think

<b>By Christopher Ingraham | Washington Post</b><p>Critics of the estate tax, which would be repealed under the House Republicans’ tax overhaul plan introduced …

Retirement

Want Less Death? Raise the Estate Tax.

But seriously: The Republican plan is a gift to the rich and their kids.<p>As I've said before, I try not to spend too much time analyzing proposed changes to tax law since it is so unlikely that any particular change will ultimately become law. But I cannot resist this report that the House of …

Business

Democrat calls Democratic attack on Republican Holding ‘tasteless and insensitive’

A Democratic candidate running against Republican Rep. George Holding said an attack from a national Democratic group on Holding was “tasteless and …

Democratic Congressional Campaign Committee