Let's talk about the Estate Tax: [View All]

[originalpckelly]

Per 26 USC 2001, here is the amount you must pay in taxes for every amount transfered:
"Not over $10,000 18 percent of such amount.
Over $10,000 but not over $20,000 $1,800, plus 20 percent of the excess of such amount over $10,000.
Over $20,000 but not over $40,000 $3,800, plus 22 percent of the excess of such amount over $20,000.
Over $40,000 but not over $60,000 $8,200 plus 24 percent of the excess of such amount over $40,000.
Over $60,000 but not over $80,000 $13,000, plus 26 percent of the excess of such amount over $60,000.
Over $80,000 but not over $100,000 $18,200, plus 28 percent of the excess of such amount over $80,000.
Over $100,000 but not over $150,000 $23,800, plus 30 percent of the excess of such amount over $100,000.
Over $150,000 but not over $250,000 $38,800, plus 32 percent of the excess of such amount over $150,000.
Over $250,000 but not over $500,000 $70,800, plus 34 percent of the excess of such amount over $250,000.
Over $500,000 but not over $750,000 $155,800, plus 37 percent of the excess of such amount over $500,000.
Over $750,000 but not over $1,000,000 $248,300, plus 39 percent of the excess of such amount over $750,000.
Over $1,000,000 but not over $1,250,000 $345,800, plus 41 percent of the excess of such amount over $1,000,000.
Over $1,250,000 but not over $1,500,000 $448,300, plus 43 percent of the excess of such amount over $1,250,000.
Over $1,500,000 but not over $2,000,000 $555,800, plus 45 percent of the excess of such amount over $1,500,000.
Over $2,000,000 but not over $2,500,000 $780,800, plus 49 percent of the excess of such amount over $2,000,000.
Over $2,500,000 $1,025,800, plus 50% of the excess over $2,500,000."

Now there also happens to be an exemption that prevents anyone with an estate under $2,000,000 from paying taxes, AT ALL. For a couple, the exemption level is $4,000,000.

Poor multi-millionaires. :cry:

Now honestly, I want to see that language removed from the law, and Democrats could run on actually removing the tax levels language from the law, as a counter-point to the Republicans wanting to just increase the level of the estate tax exemption, and the reduction of the rates.