When you die, the tax man will come for the money

“’There is no way financially my kids can pay what the IRS is going to demand from them nine months after death and keep this ranch intact for their generation and future generations,’ said (Kevin) Kester, of the Bear Valley Ranch in Central California.

“Two decades ago, Kester paid the IRS $2 million when he inherited a 22,000-acre cattle ranch from his grandfather. Come January, the tax burden on his children will be more than $13 million.”

…

“Currently, the federal government taxes estates worth $5 million dollars and up at 35 percent. When the Bush-era tax rates expire in January, rates increase to 55 percent on estates of $1 million or more. While some Republicans want to eliminate the death tax entirely, President Obama has proposed a 45 percent rate on estates of $3.5 million and up.

"’The idea behind the estate tax is to prevent the very wealthy among us from accumulating vast fortunes that they can pass along to the next generation,’ said Patrick Lester, director of Federal Fiscal Policy with the progressive think tank -- OMB Watch. ‘The poster child for the estate tax is Paris Hilton -- the celebrity and hotel heiress. That's who this is targeted at, not ordinary Americans.’"

Read more: http://www.foxnews.com/politics/2012/11/16/ranchers-farmers-brace-for-death-tax-impact/#ixzz2CPpGoolt

Mr. Lester, who TF are you to decide why “the very wealthy among us” should not leave everything to their descendents? Let me make a guess: You don’t have any “very wealthy” relatives, so you figure if you can’t get something, neither should anyone else.

And as far as Paris Hilton goes, I don’t give AF what she does with her money. I don’t care that her parents made her into a very rich, spoiled B. Why do her actions mean anything to you, Mr. Lester?

Yep, we got to get rid of those Bush tax cuts for the rich.