DawgTalkers.net Forums DawgTalk Palus Politicus House GOP tax overhaul keeps retirement rules

The estate tax is after 5.5 million in assets, so the overwhelming majority of Americans will not hit it upon their death. If you are married the tax limit is 11 million. Of the estate returns filed in 2013, only 0.18% had taxes applied.


Teddy Roosevelt said of the estate taxes viability far better than I:



I agree with Teddy, if a person is to be taxed on services it should be equal to all. What is the difference in me making 10 million a year and a son being gifted 10 million from an estate. I would argue regardless of the son's actions to his parents, the income earner did more to earn their income than the son in this case.

Additionally generational wealth tends to be hoarded, and there has to be some point where taxes are collected on appreciating assets. We have assets passed down multiple generations and never been taxed for capital gains. Why is that more fair than someone who sells their asset to a non family member exactly? The majority of large estates have never been taxed on their appreciation.

We all want our children to benefit from our work. But it is also important that we capture taxes as fairly as possible.

The first $5.45 million is exempt from the estate tax. If I inherited millions, I wouldn't really care if I had to pay $80K on a $200K home I was going to make even more off of.

The changes they were debating tonight sounded like they were going to shaft the middle class but good! I hope this thing goes down in a ball of fire tomorrow. It's nothing more than a GOP lead Trump heist for the Rich and Major Corps. The small business owner and the middle class are going to get screwed. The poor will feel the bite too.

Sliping the repeal of the individual mandate into this should have killed it. These Republicans that spent years crying about the deficit are going to add 1.5 trillion to it for tax breaks during a time that the economy is supposedly booming.

The economy is only booming for those that can play heavily in the markets or own large corps, the rest of us scrape by since 2008. But the tax breaks and incentives are almost all geared toward those doing well already! Where is the logic in that?

Dammit.

Sure stick it to them. Then they can feel just like the lower middle class, the poor, the sick, and the elderly who are going to get raped if this thing passes.

wHaT a ClUsTEr ....

I can see the sick, poor, and the elderly remembering this in the next election, and the elderly is the fastest growing segment of our population.

With bills like this getting through....not for long.

Notice how they’re sliding most of the bigger middle class punishments off a couple years. I believe it’s an attempt to not have it hurt the middle class much until after the next elections. Hoping they can get another round of republican (fascist) corporate shills elected before the hammer drops hard. They think they’re attempting to be sneaky. Hopefully the idiots that fell for all this the first time wake up before it happens to them again and we end up deeper down this rabbit hole.

^Sheep.

Don't cry now because your Democrats quit and had no input into this tax bill.

Not my problem your boys won't work while collecting their checks. You will now take what we give you.

We'll see.

LOL The obstructionist model was developed by the GOP from 2010-2016. Thanks

I know that you know this.. but his net worth and his income tax liability are completely unrelated.

oh definitely bro.

i just think it would be good for everyone to know what the facts are. everything is so deceptive lately and it's not good.

You can bet that Mueller and COmpany are taking a look at them.

These people wouldn't pee on you if you were on fire. You're not in their club.

But he has a membership card and everything...

they share the same gardener.

Just imagine if only 10 of your Democrats were working these days and had gone to the Republicans to say, "If you do this and that with the tax plan, we will vote for it."

Boom Baby! You would have made it easy and would have gotten some things you want added to the tax bill!

But alas, you have zero representation in Washington.

Dude, I can't stand the Democratic Party. I know you desperately need politics to be a zero sum game because it's all your child-like understanding of politics knows, but for some of us, there are real world implications beyond "my tribe vs. your tribe".

And I was referring to you using "we" as if you were on equal footing with the people crafting this bill, or that you're on the same page.

You are their mark. They know you are gullible enough to swallow and regurgitate whatever tripe they put forth. They're using you and view you as a useful idiot, it's not a partnership or a coalition.

They know that when the guy who thinks health insurance costs $12 a month says "this bill will give you great health care", you'll turn around and say "this bill will give me great health care" without thinking.

You continue to post in these threads in defense of one thing and later post how you can't stand it.

We call that talking out of your neck around here and you are quickly headed for King of the Neck.

Just stop.

This is incoherent gibberish.

There has been so much misinformation put out by Media on this tax cut and tax reform that most people think it will mean higher taxes to them. Media tells us, "Oh, but in 2027...

There is going to be a very pleasant surprise coming to most taxpayers come January when they see money returning to their pockets.

In imaginary land maybe.

Are you gullible enough to believe this, or are you trying to be an edgelord?

Could you cite any specific instances of outright lies, or any numbers to back up your baseless claim?

Come January? Eww Boy.

http://taxplancalculator.com/

Not sure how current this is on both of the bills, but the house plan I pay 2500 more and the senate plan I pay 7000 more.

I've restructured my LLC to an S corp this year which was going to save me about 10k on taxes but I may just be giving it back now.

I'm in a similar boat.

Beyond the short-term hike, the GOP admitted yesterday that if you're 55 or below, they're lowering the retirement age of your SS, cutting your benefits, and cutting your Medicare/Medicaid.

This thing is a brazen disaster, and anyone arguing for it needs to be ashamed of themselves for either/or A) being duped or B) carrying water for ghouls.

Only because of your insistence to read things as "all or nothing"..

PDF and I have agreed and disagreed but one of the things I've always admired about him is that he is extremely consistent...

If you can show me an example where he was for something then flip flopped to be against it, I'll acknowledge it.. I don't think you will.

Go over to the Flynn thread and read my posts.

I point out plenty of examples there.

Even in this thread he goes with all the Democrat talking points and later says he hates Democrats.

That's my observation.

Interestingly, if I add my son as a dependent (I usually let his mom claim him as it doesn't affect my taxes at all) the house bill makes my taxes go UP 1k, lmao

Trump speaking on his tax plan:

Between the taxes and the healthcare, no republican will get elected for the next 30 years.

The final bill doesn't even exist yet as it has to be passed by the Senate and then go to Conference with Senators and Congressmen to be finalized.

Yet you all know so much about how it effects you.

Whaaaaaat...

I do know that what this congress has been proposing, on multiple issues, and Trump agreeing with it will screw me over so much.

This whole congress and Pres is such a cluster.

Not voting Republican again until they get smarter.

so did they vote yet?