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Estate Tax

It's Time to Restore the Estate Tax

Ben Veghte | Posted 04.29.2015 | Politics
Ben Veghte

The estate tax is an essential component of tax policy in any meritocratic democracy. In an era of rising income and wealth inequality, a strong estate tax has become all the more critical. Yet Congress has allowed the estate tax to erode, particularly over the last 15 years.

House GOP Votes to Take Food From the Mouths of Hungry Children to Give Huge Tax Break to Children of Multi-Millionaires -- Really?

Robert Creamer | Posted 04.21.2015 | Politics
Robert Creamer

I am not exaggerating. The GOP voted to eliminate the estate tax. But the estate tax only applies to estates larger than $5.4 million for an individual and $10.9 million for couples. Eliminating the estate tax would benefit only 5,500 families in America (.02 percent of the population).

The GOP's Handout for the Wealthiest Americans

Rep. Sandy Levin | Posted 04.20.2015 | Politics
Rep. Sandy Levin

Repealing the estate tax isn't just a boon for the 5,500 wealthiest Americans; it is a bust to federal taxpayers, who would be on the hook for its quarter-of-a-trillion-dollars cost. And it gets worse: Combined with other tax bills approved by House Republicans so far this year, our debt would grow by $584 billion to finance tax cuts for the wealthy.

Jason Linkins

So That Happened: Clinton's Economic Message Doesn't Worry Wall Street Bankers Because They Don't Believe Her

HuffingtonPost.com | Jason Linkins | Posted 04.18.2015 | Politics

This week, Hillary Clinton launched her campaign, but didn't order sofritas at Chipotle, the House of Representatives voted to offer upward of $250 bi...

Friday Talking Points -- Chasing The Scooby Van

Chris Weigant | Posted 04.17.2015 | Politics
Chris Weigant

Strange but true, the "Scooby van" is now part of our political lexicon. Hillary Clinton herself is apparently to blame for this one, as this was the playful name she came up with for the van she used to get from New York to Iowa this week.

Thank God for Peanut Butter and Jelly Day

Marian Wright Edelman | Posted 04.17.2015 | Politics
Marian Wright Edelman

In a nation where millions of working families still can't earn enough to pay rent, pay the bills, and put food on the table at the same time -- and where in fiscal year 2013 there were 4.9 million households with no income but SNAP, including 1.3 million households with children -- relying on the charity of PB and J Day is not a substitute for justice.

Jesse Rifkin

House Votes To Repeal Tax On Richest 0.2 Percent Of Americans

HuffingtonPost.com | Jesse Rifkin | Posted 04.17.2015 | Politics

WASHINGTON -- The House of Representatives voted Thursday to give a tax break worth $269 billion to the richest few thousand estates in the country, a...

Repealing the Estate Tax Is Wrong for America

Rep. John K. Delaney | Posted 04.15.2015 | Politics
Rep. John K. Delaney

Repealing the estate tax won't create jobs, it won't boost GDP and it won't add efficiency to the market. Instead, repealing the estate tax will simply add to the debt, hurt our ability to build a stronger economy and worsen economic inequality.

Repeal of Estate Tax Rewards Billionaires, Punishes Working Americans

Frank Clemente | Posted 04.15.2015 | Politics
Frank Clemente

Who deserves a break more these days: a struggling working family, or the heir to a billion-dollar fortune? According to the Republican majority in the U.S. House of Representatives, it's the billion-dollar baby.

Zach Carter

Republicans Push $269 Billion Handout For Millionaire Heirs And Heiresses

HuffingtonPost.com | Zach Carter | Posted 04.14.2015 | Politics

WASHINGTON -- House Republicans this week will vote to hand the heirs and heiresses of America's largest fortunes a $269 billion tax break by repealin...

Big Winners and Big Losers in the House and Senate Republican Budgets

Marian Wright Edelman | Posted 04.11.2015 | Politics
Marian Wright Edelman

In the House and Senate budget proposals for fiscal year 2016, passed with only Republican votes at the end of March, there are big winners and big losers. The big winners are defense spending and contractors and very wealthy people and powerful special interests. The big losers are children, our poorest group in America, and struggling low- and middle-income families.

The Republican Congress Votes for Dynasty Over Democracy

Robert L. Borosage | Posted 04.09.2015 | Politics
Robert L. Borosage

What any sensible Congress should be doing -- and what any sensible elite would be demanding -- is making the tax code more, not less progressive. Estate taxes should be higher; the various loopholes and dodges to escape them should be eliminated.

What Warren Buffett Did For His Kids

Natalie Pace | Posted 04.07.2015 | Money
Natalie Pace

As you ponder what to do with your own tax refund, or how to pay less next year, now is a great time to make sure that your dough will get to your kids without them paying half (or more) to Uncle Sam in income taxes.

An Estate Administration Overview

Brad Reid | Posted 04.28.2015 | Money
Brad Reid

Estate administration involves the probate of the decedent's estate and typically includes three broad actions: (1) asset collection, inventory and appraisal; (2) collecting and paying debts and taxes; and (3) distributing the remaining assets to beneficiaries. This process may occur with or without a will and may occur subject to a probate court or outside a probate court.

Social Security Policy Responses to Inequality

Ben Veghte | Posted 04.26.2015 | Politics
Ben Veghte

In response to the highly unequal 21st century economy, Congress should reform Social Security by asking high earners to contribute to Social Security on all of their income at the same rate as other Americans.

Will Chris Christie Play to National GOP by Tying Tax Cut for the Wealthy to Road Fixes?

Gordon MacInnes | Posted 04.20.2015 | Politics
Gordon MacInnes

Fixing the state's transportation mess is crucial. And there's no alternative but to find significant, stable funding to do so. Nor should the politics of Gov. Christie possibly seeking his party's presidential nomination trump responding to New Jersey's emergency.

A Gates Plan for Eliminating Student Debt

Chuck Collins | Posted 01.14.2015 | Politics
Chuck Collins

The Greatest Generation after World War II was created not only by their own grit, but also through major public investments in their prosperity. A similar investment is required for the next generation to rise to their full potential. Why should our greatest generation be behind us?

10 Surprises When Inheriting Real Estate

Andrew Lieb | Posted 12.31.2014 | New York
Andrew Lieb

Following the death of a loved one, you may become the recipient of an unexpected parcel of real estate. Yet, with every windfall comes great obligations, so be prepared for the surprises you may encounter when inheriting property.

A Real Plutocracy Prevention Act

Chuck Collins | Posted 11.18.2014 | Politics
Chuck Collins

Sometimes the best defense is a good offense. This week, Senator Bernie Sanders introduced his "Responsible Estate Tax Act" which would strengthen the estate tax and plug up some of the worst "billionaire loopholes."

A Progressive Estate Tax

Sen. Bernie Sanders | Posted 11.08.2014 | Politics
Sen. Bernie Sanders

Unless we reduce skyrocketing wealth and income inequality, unless we end the ability of the super-rich to buy elections, the United States will be well on its way toward becoming an oligarchic form of society where almost all power rests with the billionaire class.

What Einstein Taught Me About Death: 5 Reasons to Write a Will Today

Steve Mariotti | Posted 11.08.2014 | Money
Steve Mariotti

Whether you are looking to ensure your children's safety and future, or dictate how much of your earnings go back into the tax system, writing a will is an essential action and we can all benefit from taking advice from a genius like Einstein here.

Doing the Minimum On Minimum Wage

Dana Beyer | Posted 07.27.2014 | Gay Voices
Dana Beyer

We need more leadership from the top, as we had when the President came out for marriage equality and lit a fire under the movement and the party.

Thomas Piketty and Our U.S. Estate Tax

Chuck Collins | Posted 07.26.2014 | Politics
Chuck Collins

You've probably heard that the rich are growing richer. But Piketty reports that the concentration of wealth is more extreme than we imagined. The focus on the wealthiest 1 percent is distracting us from the dizzying concentration of wealth among the top one-tenth of 1 percent.

The Case for a Basic Guaranteed Income for All

Carl Gibson | Posted 07.13.2014 | Politics
Carl Gibson

We can't call ourselves a free country until working Americans are freed from poverty wages and dead-end jobs.

For Conservatives Like Paul Ryan, How You Make Your Money Is What Really Matters

Jay Livingston | Posted 05.27.2014 | Politics
Jay Livingston

Economic policies often rest on assumptions about human motivation. What conservatives are saying to you is this: working for your money is not as good as instead of inheriting it.