Fox Nation is trying to ring in the new year with a healthy dose of fear as it reports one of the effects of not reaching a fiscal deal -- the estate tax will affect slightly more than the roughly .2% of estates in the nation. Except FoxNation reported it with the dramatic headline of "Death Tax Set to Skyrocket" via an article from Breitbart.com.
The article does indeed lay out a few details of the changes, such as the exemption moving from $5 million to $1 million and the rates increasing from 35% (they do not say it is to 55%). However it neglects a few key points which put this tax in perspective:
On the other hand, it is pretty funny that the democrat-supporting Robbie family had to sell the Miami Dolphins to pay the death tax.
The original article, from CNBC,
Will ‘Fiscal Cliff’ Accelerate Millionaire Deaths?
Published: Thursday, 27 Dec 2012 | 5:04 PM ET
By: John Carney
Senior Editor, CNBC.com
became this, by Braysfarts, in a half assed re-fry
Five Days Left to Avoid Fiscal Cliff Estate Tax-Hike
and then became this, by the Fox Hate Nation,
Death Tax Set To Skyrocket
This material may not be published, broadcast, rewritten, or redistributed. ©2013 FOX News Network, LLC. All rights reserved.
It is obvious Fox knows mentioning some keywords sends its readers into a Pavlovian conditioning soiling themselves. No surprise there.
For the record and in all seriousness, I do not agree with the concept of “estate tax” and a few other things Democrats have done or have failed to do.
However, Braysfarts and the Fox Hate Nation know exactly how to stir up blame at President Obama for ANOTHER supposed “temporary measure” enacted by Dear Leader Dumbya, without even delving into the mess at the State level it created.
How many of the Fox Nation goobers even have to worry??
Like you wrote, the current amount that is excluded from taxes for any estate is $5,000,000. Yes, that is FIVE MILLION DOLLARS, trolls! The new exclusion amount is not certain, but even if it goes back to 2001-2002 levels, the exclusion amount is still 1 Million. And I believe that an additional amount can be gifted.
So once again we have the goobers all fired up about NOTHING. They’re simply pawns doing their master’s bidding.