can anyone help me debunk this about obama?

[Razoor]

I was having dinner with my mom and step dad and somehow it got to politics. my step dad heard from someone on jury duty that obama would tax inheritance money 50% and my mom said thats not fair you already get taxed for it once why 50%. I never heard anything or read about it. anyone know if this is true or just a lie?
of course there was the usually "ya know hes going to swear in on the khoran?" when I heard that I got pissed and immediately said hes not a muslim and asked him where did you hear this stuff fox news in reference to the inheritance money taxes. I don't think obama would do that about tacing inheritance money.

[Beaverhausen]

1. only if the estate is over 3.5 million and its 45 % which I think is fair

found this at fackcheck.org

Estate Tax. The claim that Obama proposes to "restore the inheritance tax" is also false, as are the claims that McCain would impose zero tax and that Bush "repealed" it. McCain and Obama both would retain a reduced version of the estate tax, as it is correctly called, though McCain would reduce it by more.

The tax now falls only on estates valued at more than $2 million (effectively $4 million for couples able to set up the required legal and financial arrangements). It reaches a maximum rate of 45 percent on amounts more than that. It was not repealed, but it is set to expire temporarily in 2010, then return in 2011, when it would apply to estates valued at more than $1 million ($2 million for couples), with the maximum rate rising to 55 percent.

Obama has proposed to apply the tax only to estates valued at more than $3.5 million ($7 million for couples), holding the maximum rate at 45 percent. McCain would apply it to estates worth more than $5 million ($10 million for couples), with a maximum rate of 15 percent.

[NC_Nurse]

2. Go to factcheck.org, they have debunked several tax myths circulated by

RW emailers.

[BlooInBloo]

3. Their goal is to spread, not debunk.

[NC_Nurse]

9. I found some debunked rumors on their site. One about Capital gains taxes on

primary residences. Some about Obama raising taxes, etc.

They aren't that bad.

[FrenchieCat]

10. Correct.

I provide debunk links below.......

one from the Tax Foundation - More about them: http://www.taxfoundation.org/about/

[Every Man A King]

4. Are they gonna vote for Jim Martin? nt

[NYC_SKP]

5. I'm going to use the Google and get back to you.

I'm going to type this into the search bar: "inheritance tax" +obama

I will then look at the results and look at a few pages that look like legitimate sources.

And then I will come back here to your thread and post a link.

BTW, It is something you could probably do yourself, if you know what I mean.

[NYC_SKP]

7. Snopes here:

http://www.snopes.com/politics/obama/taxes.asp

And google results:

http://www.google.com/search?hl=en&q=%22inheritance+tax%22+obama&btnG=Google+Search&aq=f&oq=

[Razoor]

12. thanks

thanks for the info. I guess I could of googled it myself. but I will bookmark factcheck.org and use it I didnt know about it.
I figured people here could help me too.

[NYC_SKP]

17. no problem, happy to help nt

I forget that it's not fair to assume that everyone is as familiar with the factcheck type sites as I am, so glad that we're helping you!

[FrenchieCat]

6. Estate tax.....

answer found here.....
http://www.taxfoundation.org/blog/show/23418.html

and here: http://fightthesmears.com/articles/9/obamaandtaxes

[progressiveforever]

8. The inheritance tax has been floating awhile

One of the grand email rumorers are doing this- it was forwarded to me right after the Repuke convention.

[Historic NY]

11. They must be very rich then..........send me a couple of extra millions.

[Razoor]

13. nah not rich

they are not rich. I dont know even why they would care.

[Historic NY]

14. Its call selective brainwashing, make them believe something that doesn't even effect them.

sad but thats what become of this country, red against blue etc.but little or no clue.

[SheilaT]

15. I am constantly amazed at the people

who worry about estate taxes, who will never, ever be subject to them.

I think the essential problem is that most people really do not understand exactly where they fit in along the income spectrum, and honestly believe that they will someday be in the top one percent, or even top five percent.

[rufus dog]

16. There are many things to remember about this tax.

Some assets taxed would have never previously taxed. Allowed to grow tax free for years, so the double tax argument is a bit disingenuous. Also, compare the US laws to England. If taxes are not collected then you have an overall loss of productivity, A class of trust fund babies that can live off interest and leave assets to the next generation, and so on.