Fact-Checking Donald Trump’s Economic Speech

[applegrove]

Fact-Checking Donald Trump’s Economic Speech

By BINYAMIN APPELBAUM at the NY Times

http://www.nytimes.com/2016/08/09/us/politics/donald-trump-fact-check.html?smid=tw-nytpolitics&smtyp=cur&_r=0

"SNIP............


Claim: “Finally, no family will have to pay the death tax. American workers have paid taxes their whole lives, and they should not be taxed again at death and it’s just plain wrong and most people agree with that. We will repeal it.”

Fact Check: Only a very few American workers are subject to estate taxes, and those subject to the tax are usually not termed “workers.” Under current law, a married couple can shield up to $10.9 million of their estate from any federal taxation.

The estate tax hits roughly two of every 1,000 American estates, according to the Center on Budget and Policy Priorities, a left-leaning research organization. It estimated last year that a full repeal would have benefited roughly 5,400 families in 2016. The benefit to those families, however, is considerable: an average savings of roughly $3 million.

For wealthier families, like the Trumps, the savings are proportionally greater.


.............SNIP"

[MiniMe]

1. You don't have to pay federal tax unless it is a huge estate. State estate tax is a different matter

And the federal government can't do anything about the state tax

[MichiganVote]

2. Righto. Its the federal estate tax that the shitheads want to shield their fucked up kids from.

And who makes that up in the federal revenue??? WE do ya' fucking morons.