Perlmutter on estate tax: "We're not England. We're not into landed gentry."

U.S. Rep. Ed Perlmutter, D-Colo., answers a question Aug. 27, 2010, at The Denver Forum luncheon about what Congress may do about expiration of the Bush tax cuts; and discusses the estate tax.

Category:

News & Politics

Tags:

• estate tax
• ryan frazier
• U.S. Congress
• England
• gentry
• yacht
• 7th Congressional District
• death tax

[jumpoutatree]

@richlee76 It's not about the people giving the money away, it's about the people who are receiving the money. A guy who earns $50K a year has to pay taxes on all that money, but somebody gets handed a couple million dollars you feel they shouldn't have to pay taxes on that unearned income? If Republicans care about incentives, why are they always trying to raise taxes on earned income and eliminate taxes on unearned income?

[telman349]

Classic redistribution of wealth mentality. Joe the Plumber was right on the money!

[Topa101]

Ed Perlmutter showed his true colors - And what is under the mask isn't pretty...

After you work your entire life for your earnings - Ed Perlmutter thinks the government knows better when it comes to where that money should go when you die.

Listen to Ed tell a group in Denver how he really feels about who is entitled to your hard earned dollars:

[MrRPCV]

Sounds as if Ed Perlmutter does not plan to leave any inheritance to his children. When the Soviet Union eliminated inheritance with their communism experiment, they ruined personal initiative. What is the purpose of working hard if you have nothing to leave to your children? I don't care for Mr. Perlmutter's socialist ideas. He thinks we should work hard all of our lives, then leave everything for the state to distribute to others. Karl Marx would be proud of Ed Perlmutter.

[richlee76]

I never stated that my assets were noble nor ever thought of them as noble. As I already stated: "The assets we own today were purchased with after tax dollars." It is not a matter of taxing one and not the other, income tax has already been paid on the money used to purchase assets. By your questions, sounds like you would have no problem taxing two, three, four,... times. You'll love the VAT tax that is on the horizon.

[krevno]

@richlee76 But why are your assets any more noble than the income you used to buy them? Why tax one and not the other?

[richlee76]

I worked hard all my life as did my Dad and Grandfather and we all paid our fair share of taxes our entire lives. If we want to pass our assets on to our children or grandchildren or our dogs that is our decision to do so. The assets we own today were purchased with after tax dollars. Keep your greedy hands out of our pockets. You create disincentive and encourage mediocrity. You are destroying America. I pray Colorado will remove you and the likes of you from office.

[leow502]

He's got it backwards. Just because my grandpa did well doesn't entitle THE GOVERNMENT to a yacht, or any of his wealth.