KEEP THE AMERICAN DREAM OR A NIGHTMARE?

Hell o,

It is election time for Congress in a few short weeks so talk of tax cuts looms. Tax cuts that seem sympathetic to the current problems.

Unfortunately, included among the past tax cuts that Bush passed which ARE DUE TO EXPIRE this DECEMBER 31, UNLESS EXTENDED BY CONGRESS is a change in inheritance taxes taking it back to the EXTREME FORMER LEVELS. Now that may not seem to MATTER but if the estate has to pay over 50% inheritance tax, and in some states the heirs are taxed on the remains, it means that INDIVIDUAL hard work goes to the government not the family. The American Dream takes another hit!!!!!!!!!!!

The Government keeps spending Trillions in Washington but they also tend to make a million sound large when they want folks to agree with them.

ECONOMICALLY SPEAKING because of the NON-EXISTENT???????????INFLATION, a million even three million is now a possible figure for middle class folks to leave behind when all their estate is counted (unless, of course, house prices keep falling at the speed of constellations ). Homes in the 70's in a nice neighborhood (not fancy) cost around $30,000. REMEMBER PRICES ARE NOW AT LEAST 10x prices in the 70's.

Therefore: 10 x 100,000 ($100,000 was considered good high middle class inheritance income in the 70's) and now easily translates into a MILLION.

Inflation makes a million dollar MIDDLE CLASS ESTATE POSSIBLE because that $30,000. house is now worth $300,000. That is over 1/4 million dollars!!!!!!!!!!! Take a small step up in neighborhood where the prices once were $75,000. in the 70's and today the house is worth 10x that amount or $750,000. That is 3/4 of a million dollars!!!!!!!!!!! It doesn't take much more in the estate, which can include savings, insurance, home furnishings, cars, collections etc., to put the estate well over a million dollars or more.

What about folks earning over $250,000--(you mean $25,000. in the 70's??????) My, that's rich!!!!!!!!!!!! That's a high end middle class American not one of the "Wealthy class" that the President feels is at fault for all the problems of the poor and calls totally selfish!!!!!!!!!!!Just an ordinary citizen trying to make a life and a home for the family with a boatload of bills.

The inheritance bill is aimed at the middle class! When all is said and done, leaving children at least some part of earned income is a way to make the AMERICAN DREAM real. It is the way immigrants and the previously poor have made it possible for their children to live in nice neighbnorhoods with the expectation those children in turn will do the same.

GUESS WHAT???????????? If the reduction made in inheritance tax is not continued after December then FORGET making it possible for any future generations to enjoy the AMERICAN DREAM. More likely the AMERICAN NIGHTMARE. At present it focuses on estates of $3m but we know how that goes. It won't be long before inheritance will be a thing of the past. By the time the lawyers, the inheritance taxes (which will likely grow), local taxes and other costs ARE LEVIED, they'll be lucky not to have to pay the Government for the privilege of continuing to live in the home left them to them.

These kinds of taxers seem harmless BECAUSE the PRESS keeps BLATHERING about the WEALTHY and make such taxes seem of no concern to anyone but the wealthy. THINK AGAIN!!!!!!!!!!!

SPEAKING OF THE FOURTH ESTATE, I am very disappointed in their total political bias to events. The Press had grown powerful in this country because it was predicated on bringing truth to the public and maintaining neutrality. JUST THE FACTS, MA'M, JUST THE FACTS!!!!

Television with its constant bias changed that. Instead of newspapers and magazines taking the opportunity to take the opposite stance, they caved and now offer THEIR OWN BIAS.

In times of great economic upheaval, it is unfortunate that folks cannot get the facts without the bias BUT THAT'S THE WAY IT IS, FOLKS. Proceed at your own risk.

VOTE IN NOVEMBER FOR A CONGRESS THAT WILL FOLLOW.......YOUR..........WISHES.

Those CONGRESSMEN are YOUR EMPLOYEES AND SO IS THE PRESIDENT. If we all decided to cut them off TOMORROW without paying a penny in TAXES, they'd be out of a job like so many in the rest of the nation. The power is with us!!!!!!!!!!!!

REMEMBER THAT when you vote.
CHEERS, CONNIE