[quote=UCGal][quote=enron_by_the_sea]I was first be happy to not have to pay more in taxes next year. Two seconds later I realized that I would be paying that with interest one way or another in the future anyway! So I don’t what the big deal is about.
If they had done it without adding to the deficit (in the long term) then I might have been impressed….[/quote]
+10.
This just added a trillion bucks to the deficit. Much bigger than TARP 1.
One of the little things in the law – the rich (and anyone else with a spare $10Million) can now gift their kids $10M, tax free. If they do it in the next 2 years. This is in addition to the estate tax changes… ($5M tax free.)
So if your older and may die in the next 2 years – you could give $15M to your kids tax free.
Now where did I put that spare $10 million….[/quote]
I have never agreed with the gift or estate tax. It is pure double taxation. Why should my kids have to pay taxes on money that I earned and paid taxes on already? The answer is not more taxes. The answer is less government spending.
