LEB Journal Entry Estate Taxes - Madison Leibman LEB 323 Bredeson Estate Taxes For the future year budget in 2015 Obama reopened the idea of changing

LEB Journal Entry Estate Taxes - Madison Leibman LEB 323...

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Madison Leibman LEB 323- Bredeson Estate Taxes For the future year budget in 2015 Obama reopened the idea of changing the estate tax rates and provisions. Currently the maximum rate is set at 40 percent with an exclusion of a $5 million for estates of the deceased. This new proposal would raise the rate to 45% and lower the exclusion for $3.5 million. These amounts would not be indexed for inflation as opposed to how they have been in the past. I think the proposal for a change in estate tax could really benefit the economy and the government overall. Raising the rates would bring in additional revenue that the government could use considering the deficit. Our government heavily relies on the taxes they collect from the citizens and if we want our government to keep performing adding an additional 5% to the estate tax really could help out the economy. This additional revenue can help fund our deficit, invest in public activities, or help those in economic crisis. It also helps avoid having too much
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  • Spring '08
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