Ending Estate Tax recognizes investors above Spenders: the bidirectional: NPR – tech2.org

Ending Estate Tax recognizes investors above Spenders: the bidirectional: NPR



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Senator Chuck Grbadley, R-Iowa, arrives at the Capitol in Washington, in a September photo.

J. Scott Applewhite / AP


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J. Scott Applewhite / AP

Sen. Chuck Grbadley, R-Iowa, arrives at the Capitol in Washington, in a September photo.

J. Scott Applewhite / AP

Iowa Republican Senator Chuck Grbadley, commenting on the GOP's fiscal review, says The Des Moines record that ending the estate tax is about rewarding people who invest over those who spend everything what they earn in "alcoholic drink" women or movies. "

  Senate Republicans approve mbadive tax reform

The promise to end the so-called" death tax "has been a bulwark of republican electoral politics for decades. the House would do that by 2024, however, the Senate version of the fiscal review, which narrowly approved the chamber early Saturday, will keep it, but will double the current exemption to $ 11 million from $ 5.5 million per For married couples, the current exemption is already $ 11 million.

  TABLE: How the revision of the republican tax could affect it

"I believe that not having the estate tax recognizes the people who are investing, unlike those who are simply spending every damn penny they have, whether it's alcohol or women or movies, "Grbadley, a member of the Senate Finance Committee, told the Register on Saturday.

The senator's statements provoked a harsh response on social networks, with a Twitter user commenting: "I'm sure those people would love to invest, but they are a little worried just to make ends meet."

Grbadley, of course, forgets those who spend almost all the money they have on food, shelter and health care. I'm sure those people would love to invest, but they're a little worried just trying to make a living.
#Grbadley #GOPTaxScam https://t.co/DdGZcRu4n6

– DT is NMP (@ jcargile242) December 4, 2017

The elimination of the estate tax It benefits a small fraction of taxpayers. The Center on Budget and Non-partisan Policy Priorities estimates that by 2017, less than two out of every 1,000 properties will owe property taxes, or approximately 0.002 percent.

Grbadley has been a particularly strong advocate for ending the estate tax, alleging that it hurts Iowa families trying to move their farms from one generation to another. But in an editorial published over the weekend, the Record wrote: "A review of federal tax data and non-partisan research on the subject shows that family farmers and small business owners represent a small part of the taxpayers of inheritance taxes, and that taxes that must rarely force them to sell land or abandon agriculture "

The Hill writes:

" The estate tax is one of the few significant differences between Tax reform bills approved by every House of Congress are that the Senate bill repeals ObamaCare's individual mandate.

Republican lawmakers have expressed optimism that they will be able to resolve differences in a joint committee and deliver a bill to President Trump before the end of the year. " [19659021] [ad_2]
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