Anthony Weiner Shoots Down Megyn Kelly's Assertion That The Estate Tax Is Double Taxation


Rep. Anthony took Megyn Kelly to school when she tried pushing the lie that the estate tax is double taxation. This woman has a law degree so I'm sure she knows what she's saying isn't true as well, but facts don't seem to matter much if you want a job at Fox News. From Think Progress --

Rep. Weiner: ‘You Aren’t Paying’ Taxes On Your Estate ‘Because You’ll Be Dead’:

President Obama this week announced a tentative deal with congressional Republicans to extend the Bush-era tax cuts for all Americans for two years in exchange for a 13-month extension in unemployment benefits. While the deal included other popular tax credits and incentives, one provison in particular has drawn fire from progressives and Democrats in Congress: reinstating the currently-expired estate tax. In what the Washington Post’s Ezra Klein called an “ugly surprise” in the deal, Obama and the GOP agreed to exempt inheritances up to $5 million and to set the tax rate at 35 percent instead of an exemption at $3.5 million and the tax rate at 45 percent, which the House passed last year. [...]

Also today, Fox News host Megyn Kelly defended the estate tax deal in an interview with Rep. Anthony Weiner (D-NY) — who has also been critical of it — saying that these Americans shouldn’t be taxed twice. Weiner pointed out the obvious flaw in that line of thinking:

KELLY: I don’t have a five million dollar estate, I’d like to someday, but if I work all my life and I pay my taxes on my income and then I die and I want to pass on what it would be great if it were a $5 million estate to my kids, why should I pay the government again? Why should there be a 35 or 45 or 55 percent tax on that again?

WEINER: You aren’t paying anything in that case because you’ll be dead. … Do you know how much this adds to our debt? It adds an enormous amount. No one can be in favor of that and then come on your show and say, “Oh I’m so concerned about the debt!”

As Congressman Weiner rightfully pointed out, the tax is on unearned income which heaven forbid Republicans don't want to tax in the same manner they tax wages.


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