DawgTalkers.net Forums DawgTalk Palus Politicus Tax Overhaul Pt. 2

It definitely is mind boggling, and just another example of liberals deciding what's best for others.

Also, can't this tax be avoided by putting all of your assets in a trust?

Your assumption that it's "hard-earned" is all one needs to know.

Do you know how much of a kid's inheritance comes both from their parents, but from their grandparents in terms of the inheritance tax?

These are rich ingrates whose rich ingrates whose rich ingrates parents inherited money.

It does not matter if a kid , a parent, or grandparent is an ingrate or not and i am not sure why you even mention it. Nor does it matter if the money is hard earned. Even though all estates were initially built on hard work and that money earned on that hard work was mist assuredly taxed.

Big damn deal. Who cares? Was the money taxed when it was earned? Was the property taxed when it was owned?

Who the hell cares if it goes from generation to generation?

Simply dieing entitles the gov't. to 40%? What?


Man, I wish your mom would've hugged you more, and your dad.

Multiple generational inheritance, which is most inheritances is one of the biggest factors of income inequality as it allows for multiple generations to accumulate wealth. Often times this wealth has not been taxed in decades either.

I mean, if we're wondering why we tax things the way that we do then there are much more serious questions than the inheritance tax. Why are the fruits of our labor taxed at a higher rate than that of investments? Why should the government want so much of our hard earned labor and not financial investments? I think everyone here would be much better off if the tax rate of the two were switched.

The investments are taxed at a lower rate because the money that was invested was initially the 'fruit of labor' and taxed as such!

Rather obvious point to be missed if you ask me.

This tells us all we need to know about your point of view on the topic.

Just like Reagan said, 'Republicans believe every day is the Fourth of July, but democrats believe every day is April 15th'.

As it should.

Ted - I'm fair with you, be fair with me:

Do you think it's fair or unfair that Thaddeus Wilmington VI gets taxed 40% after the first $11 million? Yes or no?

That's the inheritance tax. That's what we're discussing.

Reagan was an actor who crashed the U.S. economy beyond repair.

He literally had to raise taxes before the term ended because his rhetoric was so dead wrong.

I'll answer: No, it's not fair.

UNLESS Joe Smith, he of an estate worth $50,000, gets taxed at his death the same 40%.

This isn't necessarily true. That's how it works for the everyday American, but not everyone. Also, if you look at where the wealth is in society, the point that was missed is why aren't investments taxed at a higher rate than actual labor? It's obviously to keep the little man down.

Beyond repair?

Reagan is the reason why the US is so rich and why Communism failed.

Yes. In a perfect world we would take everything from everyone at 18 and make them all start with nothing. Level the playing field. why we're at it, Full Body Tattoos! Yep make everybody Purple.

For real though, us libs don't want to take all of your money pfm/Ted, we just want to make sure those who didn't have rich parents get at least a small shot of being middle class. I know it frost you to think about your hard earned money doing something for the common good when greed is your religion, but ask yourself WWJD? And I'll let you in on a secret, it's better to give. Just try to help out somebody that needs a hand up sometime and see how good it feels.

Ted- look this up, I'm not lying to you-

Inheritance tax doesn't kick in until $5.5 million, $11 million if you have a spouse.

That means if you're my son and I'm still married to your mother, you get $11 million, plus 60% of anything else

How is that unfair?

Joe Smith IS NOT subject to this tax.

I'm well aware of what we're discussing.

I don't think it's fair that inheritance is taxed at all to begin with regardless of the amount. Your view is skewed by jealousy, not by reason.

It's not your business how much money I leave to my heirs or anyone else's and it shouldn't be judged by 'fairness'.

Like arch said, unless you're going to tax everyone the same, then it's not fair.

OLD Cold Dawg, I can promise you I will never be subject to the estate tax (I will never be worth $11 million).

It is principal for me. I do not think the government has the right to take a % of money passed to an heir.

My wife and I are quite charitable, and yes it absolutely makes us feel good.

Do you have a pension? Or any investments?

Closet liberals are the worst. End the denial and live again!

It ain't jealousy, it's common sense to me.

It should be dogma to you - Christ was very firm about giving one's money.

I work my ass off, that's why I'm middle class. My dad retired from Ford after 30 years, didn't need his help to be middle class, I made it on my own (with a lot of prayer).

What would Jesus do? He would have ME be charitable, not you and your Robin Hood tax ideology of take from me, BARELY give people enough to get by and then DEMAND your vote when the time came by claiming they're FOR the little guy. Thus keeping their constituents in their pockets to be drawn out every November.

If you people would take enough of your hands out of the American people's pockets so that a real recovery could happen (THIS HAS TO BE COUPLED WITH MASSIVE SPENDING CUTS) then your elected officials would find themselves COMPLETELY UNNECESSARY!

He was, but sure as hell not as much as you're thinking.

Investments (dividends and capital gains) are taxed at lower rates than wages (earned income) is to drive investments in businesses . it is not designed to keep down the "little man".

Yes, I have a little over 24 bitcoins, 5200 Iota coins, and quite a fair amount tied up in the US and Chinese stock market as well. In fact, my investments have far surpassed my career earnings. It's all a pretty fun game to play. My goal is to get enough stock in a company to where I have the power to completely tank the stock.

"I worked my ass off to be middle class, and I want my money to pay for Dan Gilbert's jet gas!"

I agree with the liberals comment. I know you were not accusing me of that crime,

But that's exactly what that design of it does. There's a reason why 80% of the wealth in the stock market is controlled by 10% of investors.

I guarantee I'll never have to deal with any death tax.

Unless I win the lottery, and I don't play the lottery.

I'm just curious why some idiots think that any amount over some arbitrary number should be taxed at 40%?

And there hasn't been a single person that can answer that, other than "Oh, let's take the guy's money so we can give it to others to give them a chance" blah blah blah.

Want a chance? Come up with something that makes money.

Just here I can list off 5 people that had nothing more than an 8th grade education. They started businesses. Businesses that succeeded.

Tax the living hell out of them, right?

Then see what happens.

It's not an arbitrary number, it's a way to balance the budget because we think it's OK to have low taxes for the uber rich and their companies.

As if the government would actually give someone enough money to give them a chance...

That will never happen.

Like most people, when i was starting out I could not afford to invest in stocks or other investments and i would think the same thing. It takes time for most of us to be able to save enough to invest but if someone wants to save and invest he can. The so called Little guy can invest.

So an ass is the price you've paid to be in the middle class? That sounds painful.

And do you honestly think that only liberals impose taxes? Pretty sure republicans imposed the 'sin' taxes. Both parties have done plenty to transfer the wealth upward and keep us people on the bottom fighting each other over it. The problem you have is that you still see me as the enemy! I've never taxed you at all... The only thing we disagree on is where money should be spent. I think the poor, elderly and people in need should be cared for and the GOP thinks Corporations and 1%ers need the handouts! You don't seem to agree with either, so I'm not sure what kind of critter you are.

I had a pretty bad drug problem back when The Silk Road was starting. As a result I probably sunk over thousands of dollars into bitcoins during that time and ended up having about 58 or so remaining when btc started going over $10 a coin. That incident led to a really bad bender. I sold half of my bitcoins when btc went over $400 a coin, thinking they wouldn't get higher. When BTC went to 1k, I decided that I would start selling and buying them more frequently because it looked like investment banks wanted to use BTC as a way to invest.

Iota is pretty great. The fact that they are also capped is a great reason to invest in them, although the market has been too good for the past two weeks. I'm expecting some sort of serious correction that'll get them back down to $1.20 a coin.

The Chinese stock index is where it's at. China will be the biggest global power by the time that Trump is done being President, so this is the time to invest in them. One of these days China will open up its stock market to where you can invest in more than just indexes.

Part of the important thing I've learned about investing is that it's important to get in on the ground floor.

You obviously have no clue what the "rich" pay in income tax in relation to the total income tax receipts.

No. Work is what he did to get to his status. That's a weird concept for some, I know.

Isn’t this discussion about how much Dan’s son will have for jet fuel?

Just because the people with the most money, have the highest burden, doesn't mean they're doing their fair share. If I owe 51% of a company but collect 80% of its profits, then it's not fair, even though I do own the most money and should take the most profits.

If two jets were flying from point A to point B, how big of a tax cut could Republican give the 1%?

That depends if entitlements are on the table. Those pesky entitlements.