Tag: Estate Taxes

In the bizzarro world state that we live in, it might soon be even more true.  Surprising as it might be, Andy Dillon might actually shed the comfort of a fat bureaucratic job for the gold fringe executive seat. And it might work. Not because Dillon is better, but because he is undermining the governor's better efforts with punitive management of the treasury.

The treasury department is the enforcement arm of Michigan's revenue collections. And true to the progressive mindset that you not only do-not-own what you think, he manages that way.  Its bad enough to be PERSONALLY LIABLE for actions of an entire department you manage, but to carry that liability  for decisions made prior to your own involvement?  Charles Owens reports:

"In the majority of states, personal liability statutes have required that the responsible person be employed in a tax-supervisory position with the company during the time that the person's company failed to pay the government. However, Michigan's Treasury is departing from this body of law. Treasury now extends its assessments to persons not employed by the tax liable entity or were not employed during the time period in which the tax was not paid. That is, the state Treasury is now assessing persons for tax debts that arose before the person was employed by the company. It is assessing persons that were members of other holding companies that invested in the tax liable company - and had no hand in day-to-day operations. Treasury is assessing persons for debts which arose after they left the company. No other government jurisdiction practices such an expansive assessment."

And before someone says "Hey, Andy can be tied to this. Its HIS department after all", I would suggest we find some precedent setting moment in time.  You know, some point in history where 'the buck actually stopped there.' This is SNYDER'S problem, and will be, no matter who makes the primary calls.

Right?

Michigan farm families, short of some performing some creative family planning, barely escaped an amendment tonight that would have required the sale of the stead for payment of taxes when a principle owner dies.  

The Pomeroy amendment proposed by Sander Levin FAILED with bipartisan support tonight.  It would have made a 45% tax rate for estates over 3.5 million.  This amendment was to be added to the Senate passed bill negotiated by the president.  It failed to pass with a vote of 233-194.

It ALMOST passed as a voice addition.

FYI..  Not a single Republican voted for it.

How can the Democrats claim to represent the middle class when they would creat such a tax that takes from ALREADY TAXED value and keeps middle class families from being able to pass to their heirs.

Mind boggling.

Update [2010-12-16 23:59:57 by JGillman]: the tax bill HR 4853 passed at Midnight meaning 2 more years of same tax rates. Not perfect, but ...