Is Obama a Republican bitch or a liar? Tax cuts for the rich

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Apr 5, 2004
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#22
Obama was a CIA AGENT. HIS BLACK FATHER Obama SR (also an oil buisnessman) WAS BACKED BY THE CIA FOR HELPING ASPIRING LEADER M'BAUY(SP) RUN FOR POWER IN KENYA. A MAN THAT WAS PRO U.S . THE CIA WEREE TRYNA PREVENT A SOVIET BACKED OR RUSSIAN BACKED KENYa AND WOULD ASSASSINATE U.S OPOSSING LEADER. AS THE U.S HAVE DONE IN NUMEROUS COUNTRIES! EVEN OBAMAS MOM DAD AND GRANPARENTS WERE INVOLVED IN THE CIA. OBAMAS STEP DAD WAS AN INDONESION MILLITATY FIGHTER BACKED BY THE U.S. OBAMA WAS WRK AND REQRUTED SINCE BIRTH TO WORK FOR THE CIA. OFCOURS,. HE WE WAS REALLY GOOD AT DISTRACTING THE REPORTERS BOUT THAT WUN. JUS LIKE THE BUSH FAMILY. ALL CIA. ALL OIL BUISNESSMEN. ALL PART OF THE ELITE TERRORIST GROUP THE CIA. GIT IT? This goes deep .
 

Stealth

Join date: May '98
May 8, 2002
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#23
The $3.5 million dollar federal estate tax didn't even exist this year. It disappeared at the end of 2009. Every single rich person who has died in 2010 has paid NOTHING in federal estate tax. The fact that he extended the tax cuts actually reimplemented the estate tax.
 
Nov 24, 2003
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#24
The $3.5 million dollar federal estate tax didn't even exist this year. It disappeared at the end of 2009. Every single rich person who has died in 2010 has paid NOTHING in federal estate tax. The fact that he extended the tax cuts actually reimplemented the estate tax.


That is not true because the estate tax had already been reimplemented for 2011.

The Federal Estate Tax was scheduled to come back in 2011 with a rate of 55% and 1 Million exemption (2 Million combined exemption for married couples) regardless of what Obama did.
 

Stealth

Join date: May '98
May 8, 2002
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#25
True, but it wasn't gonna happen. If the estate tax came back with a 1 million dollar exemption, it would have fucked everybody. All you need to do is live in California and own a house, and you probably reached the 1 million point. Then you have to pay 55% on everything over that. So how are you gonna pay that off if your parents left you nothing but a house? By selling the house. So in the end, you're still poor as fuck and you just lost your family's house.

The estate tax would have been repealed by both the left and the right. The one thing everyone could agree on was that 1 million was way too low of a threshold to begin taxing. Bumping it up to 5 was a big compromise. Now it'll effect the massively rich people who need to be taxed, but it's not going to effect the people who's parents died and left them a couple stocks, bonds, a house and a car.