Statements from the Voter's Pamphlet...
Young people hardest hit by a death tax on the family’s hard earned assets
Young people look forward to an economically successful life. They don’t need another tax on their family’s hard earned assets. Young people may think they will never face death taxes, but when a family member dies and a business must be sold in order for the government to take its cut, they realize what an unfair tax it is. The Death tax reduces entrepreneurial endeavors that create jobs and expand capital formation. Death should not be a taxable event.
Jobs and Business are eroded by Estate Tax (Death Tax) and all citizens affected
Entrepreneurship and jobs in the free enterprise system produce successful citizens and wealth. Small business owners create 97% of the jobs in Washington. Death taxes penalize savings, investment capital, business development and unjustly force the breakup of thousands of businesses and properties. Businesses and jobs disappear. Employers, employees, retirees and heirs all lose when death taxes force liquidation of assets.
Seniors thrive on success of their children (success should be rewarded not penalized)
Whether helping finance a car, home, real estate, or business, seniors thrive on helping their children and grandchildren. They want them to economically succeed. Individual entrepreneurial success should be rewarded and their hard earned money should stay theirs to dispose of as they wish. Past revenue appraisers even appraised wedding rings. A grandparent’s or parent’s death should not trigger a tax and penalize heirs.
Death should not be a taxable event—Vote “Yes” on I-920
Washington voters abolished inheritance taxes in 1981, with YES – 610,507 (67.24%), NO-297,445 (32.76%). This “new” Washington Estate Tax is separate from the federal estate tax resulting in survivors possibly paying nearly 70% in taxes. Death should not be a taxable event. Vote “Yes.”
Source: noestatetax.org
Thursday, November 9, 2006
What do you believe?
The Beliefs of the Committee to Abolish Washington State Estate Tax...
We believe it is morally wrong for death to trigger a tax on the property of the deceased. The deceased can no longer defend their property.
We believe that the dispersing of property is a private affair.
We believe the revenue department and their appraisers should not have access to our family affairs. Do you realize that prior to the 1981 initiative 402 appraisers even appraised wedding rings?
We believe that we should support our families rather than letting an aggressive revenue department levy assessments against the deceased's property.
We believe by abolishing the Washington State estate tax, we create opportunities to attract industry, jobs, and wealth to our state.
We believe that abolishing the Washington State estate tax will encourage retired families to keep residing in Washington State.
We believe that no Washington State tax should be tied to the internal revenue code.
We believe that all property (real and investment savings) should not be taxed more than once.
We believe all citizens of Washington State should be treated fairly.
We believe death should not be a taxable event.
We believe it is morally wrong for death to trigger a tax on the property of the deceased. The deceased can no longer defend their property.
We believe that the dispersing of property is a private affair.
We believe the revenue department and their appraisers should not have access to our family affairs. Do you realize that prior to the 1981 initiative 402 appraisers even appraised wedding rings?
We believe that we should support our families rather than letting an aggressive revenue department levy assessments against the deceased's property.
We believe by abolishing the Washington State estate tax, we create opportunities to attract industry, jobs, and wealth to our state.
We believe that abolishing the Washington State estate tax will encourage retired families to keep residing in Washington State.
We believe that no Washington State tax should be tied to the internal revenue code.
We believe that all property (real and investment savings) should not be taxed more than once.
We believe all citizens of Washington State should be treated fairly.
We believe death should not be a taxable event.
I-920
Click Hereto see the I-920 Commercial
After a lifetime of burdensome taxes, the death tax punishes Americans one last time simply because they worked hard, saved, and invested to pass their property on to their families.
Our purpose is to eliminate the hated estate tax permanently.
Why should families barely have a chance to mourn the loss of their loved one before they are hit with death taxes? Death Tax is insulting as well as injurious. When a loved one dies, Washington State Revenue Department should not even be in the line of vultures – let alone the chief vulture – poised to devour the estate.
DEATH SHOULD NOT BE A TAXABLE EVENT
Our mission is to Abolish the Estate Tax (Death Tax) passed by the 2005 legislature with Emergency legislation.
Source: Committee to Abolish Washington State Estate Tax
After a lifetime of burdensome taxes, the death tax punishes Americans one last time simply because they worked hard, saved, and invested to pass their property on to their families.
Our purpose is to eliminate the hated estate tax permanently.
Why should families barely have a chance to mourn the loss of their loved one before they are hit with death taxes? Death Tax is insulting as well as injurious. When a loved one dies, Washington State Revenue Department should not even be in the line of vultures – let alone the chief vulture – poised to devour the estate.
DEATH SHOULD NOT BE A TAXABLE EVENT
Our mission is to Abolish the Estate Tax (Death Tax) passed by the 2005 legislature with Emergency legislation.
Source: Committee to Abolish Washington State Estate Tax
Debate
As i see it there is nothing wrong with an estate tax. it is not like they take all of your money just some of it. Your family still gets to get 2 million untaxed and then taxes apply. the money is taxed exclusively for education and only applies for roughly 250 wealthy households. therefore obviously it does not effect you or me. we only stand to benefit. since it goes to education it indirectly benefits us. why should 250 households get tax relief when ultimately public education would suffer. The common citizens would end up getting a tax increase while 250 household get a tax break. hardly fair don't you think. we have a social and moral responsibility to make sure everyone has a decent education and if 250 household have to spend a portions their millions for social good is that really all that bad. granted they lose some money but they still are gonna be rich. tell me what you think.
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My response is as follows:
You must be kidding me!? Sure fact... "is not like they take all of your money just some of it." That's easy if your inheritance is tangible like cash, stocks or bonds. What if you inherit a family business or a real estate portfolio, those things aren't tangible. Many families have invested every penny and bit of their sweat into running a successful business. Hypothetically, let's say my parents die and I happen to inherit the business. But guess what, the government is going to make me sell the business at a loss to some multinational corporation because I have to cough up this so-called estate tax. My family had worked their lives for nothing.
Further, just because this may not affect you shouldn't be a good reason to forget about morals. Another hypothetical situation:
My parents made some money and paid taxes on that money. (That's fair).
Then in event of their death...
The government comes and tries to steal more money... guess what... it's because they became deceased.
Where's the moral in stealing money from someone whose already suffering from the death of loved ones.
Double taxation in general isn't fair. Where's the American ideal of capitalism and free market??? Double taxation just leads us closer to a socialist society.
There are other ways to raise money for public education. Government funds are being abused daily. Besides, public education isn't in any trouble. Since that is an unrelated issue, it will not be discussed in this forum.
Money isn't the real issue. It's the principles of the estate tax that deeply terrorizes me.
-Adrian
_____________________________________________________________________________________
My response is as follows:
You must be kidding me!? Sure fact... "is not like they take all of your money just some of it." That's easy if your inheritance is tangible like cash, stocks or bonds. What if you inherit a family business or a real estate portfolio, those things aren't tangible. Many families have invested every penny and bit of their sweat into running a successful business. Hypothetically, let's say my parents die and I happen to inherit the business. But guess what, the government is going to make me sell the business at a loss to some multinational corporation because I have to cough up this so-called estate tax. My family had worked their lives for nothing.
Further, just because this may not affect you shouldn't be a good reason to forget about morals. Another hypothetical situation:
My parents made some money and paid taxes on that money. (That's fair).
Then in event of their death...
The government comes and tries to steal more money... guess what... it's because they became deceased.
Where's the moral in stealing money from someone whose already suffering from the death of loved ones.
Double taxation in general isn't fair. Where's the American ideal of capitalism and free market??? Double taxation just leads us closer to a socialist society.
There are other ways to raise money for public education. Government funds are being abused daily. Besides, public education isn't in any trouble. Since that is an unrelated issue, it will not be discussed in this forum.
Money isn't the real issue. It's the principles of the estate tax that deeply terrorizes me.
-Adrian
History of the Inheritance Tax
Dennis Falk and Dick Patten filed Initiative 402 on April 3, 1981 to abolish the gift and inheritance tax. On November 3, 1981 the voters approved Initiative 402 with 67 percent vote thus abolishing the inheritance and gift tax in Washington State effective January 1, 1982. The Initiative’s ballot title prepared by the Attorney General was, “Shall inheritance and gift taxes be abolished and state death taxes be restricted to the federal estate tax credit allowed?” The only money the Washington State Department of Revenue was entitled to after January 1, 1982 was a small percent of the total 100 percent levied by the IRS for the Federal Estate Tax and normally called a pick-up tax. The IRS would levy 100 percent and give the Washington State Revenue Department five percent or less. There was no additional cost to the deceased estate. In the Initiative 402 we used the term Estate Tax to qualify the State of Washington to only receive a percentage of the Federal credit (pick-up tax). There was no intent to create an estate tax in excess of the IRS credit or pick-up tax. With no additional financial cost to the deceased estate we really have had no death tax in Washington State from January 1, 1981 until the year 2005 when the state legislature imposed a state death tax adding an additional financial burden.
As the Federal IRS pick-up tax to the state decreased the Washington State Department of Revenue claimed to have an estate tax in excess of the Federal IRS credit. They got greedy and started assessing and collecting an estate tax that was in excess of the IRS Credit (pick-up tax).
The Washington State Supreme Court 9 to 0 decision on February 3, 2005 said the Washington State Revenue Department had no authority to assess tax upon property in excess of the Federal Credit (pick-up tax) and tax payers are due a refund.
The Revenue Department violated Initiative 402 in two important particulars: 1) RCW 83.100.050(1)(b) read, “No Washington return need to be filed if no federal return is required;” and 2) RCW 83.100.030 still provided explicitly that the Washington estate tax was “A tax in an amount equal to the federal credit…”
The Department of Revenue adopted new regulations in direct conflict with the Initiative 402 and intimidated tax payers to file a tax return with the State of Washington Revenue Department even though they were not required to file with the federal government. The wrongful imposition of the tax violated Initiative 402 and was an unlawful deprivation of property.
The Washington State Supreme Court with a 9 to 0 decision supported the 1981 Initiative 402 in favor of the citizens and ordered refunds to the tax payers.
Dick Patten and Dennis Falk are very proud that Initiative 402 held the Washington State Revenue Department at bay until the 2005 legislative session (23 years). The sad message is that the citizens of this state need to again abolish death taxes. The 2005 Washington State Legislature obliterated (abolished) the 1981 Initiative 402. Then they legislatively passed a new death tax.
Click, Washington State Supreme Court Ruling on the home page to read the court’s text.
Source: noestatetax.org
As the Federal IRS pick-up tax to the state decreased the Washington State Department of Revenue claimed to have an estate tax in excess of the Federal IRS credit. They got greedy and started assessing and collecting an estate tax that was in excess of the IRS Credit (pick-up tax).
The Washington State Supreme Court 9 to 0 decision on February 3, 2005 said the Washington State Revenue Department had no authority to assess tax upon property in excess of the Federal Credit (pick-up tax) and tax payers are due a refund.
The Revenue Department violated Initiative 402 in two important particulars: 1) RCW 83.100.050(1)(b) read, “No Washington return need to be filed if no federal return is required;” and 2) RCW 83.100.030 still provided explicitly that the Washington estate tax was “A tax in an amount equal to the federal credit…”
The Department of Revenue adopted new regulations in direct conflict with the Initiative 402 and intimidated tax payers to file a tax return with the State of Washington Revenue Department even though they were not required to file with the federal government. The wrongful imposition of the tax violated Initiative 402 and was an unlawful deprivation of property.
The Washington State Supreme Court with a 9 to 0 decision supported the 1981 Initiative 402 in favor of the citizens and ordered refunds to the tax payers.
Dick Patten and Dennis Falk are very proud that Initiative 402 held the Washington State Revenue Department at bay until the 2005 legislative session (23 years). The sad message is that the citizens of this state need to again abolish death taxes. The 2005 Washington State Legislature obliterated (abolished) the 1981 Initiative 402. Then they legislatively passed a new death tax.
Click, Washington State Supreme Court Ruling on the home page to read the court’s text.
Source: noestatetax.org
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