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Ad hom argument based on inaccurate presumption does not rebut anything.
But for the record, I am jealous that a special class should get a tax free status on money they get when I'm paying almost 40% marginal on mine. How do merit that special tax free status?
First of all Jealousy is an evil emotion and only leads to disaster,
envy on the other hand means you are happy someone has something and wish you had it also..I can only guess that you are a employee somewhere as these are the most jealous class of people we have. If you went to college you are suppose to be smart and not just capable of earning a living but guess what it ain't so.
Fine crank up the inheretence tax to 90% and eliminate SS taxes and I won't be jealous.
Oh and when I die my estate will have long been past to my children
it can be done legally . Do you really think the Donald will let his hard work not go to his Children,why you think they are working with (notice I didn't say for) him. What you all don't know is that the most valuable part of any business is not the balance sheet or valuable assets which is all that CAN BE TAXED...figure out what I mean on your own.
First of all Jealousy is an evil emotion and only leads to disaster,
envy on the other hand means you are happy someone has something and wish you had it also..I can only guess that you are a employee somewhere as these are the most jealous class of people we have. If you went to college you are suppose to be smart and not just capable of earning a living but guess what it ain't so.
Fine crank up the inheretence tax to 90% and eliminate SS taxes and I won't be jealous.
Gotcha,just like most who think death tax is some how to be shared
your looking for something for nothing, like someone else to pay for your SS..Incidently all the death taxes in the USA would not cover
SS costs..(maybe if it went just to retires it might)
It is my choice to leave it to them. My parents wanted me to be better off than they were - and I want the same for mine.
Your children are being left millionaires. They aren't better off?
My complaint is that I don't want the government to tax it twice.
So when you give your child 20 bucks to go the the movie you are unhappy because they paid sales tax...
And we aren't talking about $100.00. We are talking about everything over 3.5...and next year possibly everything over 1 million.
When did 55% become everything? Your math skills are a bit lacking here.
I will try again:
Forget the dollar amount. Answer this question:
Your grandparents give your parents $20,000.00. Your parents pay taxes on the amount over 13K - 7K.
That money sits in a box in their closet. Then your parents die. They leave that 7K to you.
For a moment, imagine that EVERYTHING passed to an heir is taxed. Would it be fair for the government to tax you on the 7K?
Taxes have already been paid on it - why would it be fair for you to pay taxes on it (the same 7k has now been taxed twice).
That concept is actually acceptable to you?
Why wouldn't it be? I never paid taxes on the money did I. You contention is that I should have no tax obligation because someone else had a tax obligation. This is nonsense.
When did 55% become everything? Your math skills are a bit lacking here.
Maybe you need to explain what you mean. The government won't take 45% of your estate, and nothing you've subsequently posted really makes any sense given this fact.I work hard. I take care of my finances. I plan ahead. I invest wisely.
I do all this to leave a legacy to my family when I pass.
However, when I die, the government will take 45 percent of my estate.
Can anybody defend this?
Oh and when I die my estate will have long been past to my children
it can be done legally . Do you really think the Donald will let his hard work not go to his Children,why you think they are working with (notice I didn't say for) him. What you all don't know is that the most valuable part of any business is not the balance sheet or valuable assets which is all that CAN BE TAXED...figure out what I mean on your own.
Maybe you need to explain what you mean. The government won't take 45% of your estate, and nothing you've subsequently posted really makes any sense given this fact.I work hard. I take care of my finances. I plan ahead. I invest wisely.
I do all this to leave a legacy to my family when I pass.
However, when I die, the government will take 45 percent of my estate.
Can anybody defend this?
And your comprehension skills are lacking every worse. Everything above 3.5 million is taxed. NO where did I say that everything over 3.5 would be taken. I said everything over 3.5 would be taxed.
I am amazed that so many people feel that government's tax policies are just and fair. All this talk about Paris Hilton and Trust Fund babies have nothing to do with my situation and what I am talking about.
My problem, and I will say it again, is the government insisting that taxes be paid on monies that had already paid taxes.
I assume that everyone here who finds this acceptable also has no problem with their property taxes going up. Sales taxes being increased. They will be jumping for joy when BO raises all kinds of taxes to pay for his pipe dreams.
Remember, he wants YOU to pay taxes on the portion of your health insurance that your company provides. That is more money out of your pocket.
The only way to pay off his "bail outs" is to increase taxes on everyone. When this happens, I trust everyone will be ok with it.
Then again, maybe I missed the point. Could some of you believe that it's ok for someone else to have to pay taxes .... as long as it isn't you?
I will never be convinced that the government has any right to "re-tax" monies that I have already paid taxes on.
Well, here you go, a little list of estate tax myths, including this one:Maybe you need to explain what you mean. The government won't take 45% of your estate, and nothing you've subsequently posted really makes any sense given this fact.I work hard. I take care of my finances. I plan ahead. I invest wisely.
I do all this to leave a legacy to my family when I pass.
However, when I die, the government will take 45 percent of my estate.
Can anybody defend this?
President Obama's budget keeps the estate tax at its 2009 level, which means the government gets 45 percent of a dead person's estate valued over $3.5 million dollars or $7 million for a couple.
Obama's Budget Resurrects 'Death Tax' - First 100 Days of Presidency - Politics FOXNews.com
Perhaps I should have said, "45 percent of my estate over 3.5 million dollars."
However, I think through the subsequent pages of this thread that was made quite clear.
[FONT=Arial, Helvetica, sans-serif]Myth: The Estate Tax must be repealed because it is forcing family farms to sell out.
Fact: As with family businesses, this issue has been distorted. Only 3 of every 10,000 people who die leave a taxable estate in which a farm forms the majority of the estate. On April 8, 2001, the New York Times reported that the pro-repeal American Farm Bureau Foundation could not cite a single case of a family farm lost due to the estate tax. In any case, family farms can be protected by gradually raising exemption levels. Repealing the Estate Tax will likely encourage the growth of mega-farms, thereby hurting smaller operations.[/FONT]
And your comprehension skills are lacking every worse. Everything above 3.5 million is taxed. NO where did I say that everything over 3.5 would be taken. I said everything over 3.5 would be taxed.
I am amazed that so many people feel that government's tax policies are just and fair. All this talk about Paris Hilton and Trust Fund babies have nothing to do with my situation and what I am talking about.
To the contrary, it has every thing to do with the inheritance tax, which was the subject of your OP.
...
My problem, and I will say it again, is the government insisting that taxes be paid on monies that had already paid taxes.
Repetitive. It's been pointed out repeatedly that much of the value of estates being inherited have not been taxed, and everyone who gets money and is taxed is getting taxed on monies that had already paid taxes.
The issue is, which you have not addressed, is why the Paris Hiltons should be treated differently.
Personally, I'd feel a little better about taxes going to to provide an energy policy to get us off the oil dependency and national health care, than paying higher taxes so the trust fund babies can inherit billions tax free.
How is this relevant to whether Paris should inheret a few hundred million tax free?
Then again, maybe I missed the point. Could some of you believe that it's ok for someone else to have to pay taxes .... as long as it isn't you?
Who has said that?
I will never be convinced that the government has any right to "re-tax" monies that I have already paid taxes on.
Same reason the Govt has a right to "re-tax" monies that Ms. Jones pays me to paint her house that she has already paid taxes on.
Well, here you go, a little list of estate tax myths, including this one:Maybe you need to explain what you mean. The government won't take 45% of your estate, and nothing you've subsequently posted really makes any sense given this fact.
President Obama's budget keeps the estate tax at its 2009 level, which means the government gets 45 percent of a dead person's estate valued over $3.5 million dollars or $7 million for a couple.
Obama's Budget Resurrects 'Death Tax' - First 100 Days of Presidency - Politics FOXNews.com
Perhaps I should have said, "45 percent of my estate over 3.5 million dollars."
However, I think through the subsequent pages of this thread that was made quite clear.
[FONT=Arial, Helvetica, sans-serif]Myth: The Estate Tax must be repealed because it is forcing family farms to sell out.
Fact: As with family businesses, this issue has been distorted. Only 3 of every 10,000 people who die leave a taxable estate in which a farm forms the majority of the estate. On April 8, 2001, the New York Times reported that the pro-repeal American Farm Bureau Foundation could not cite a single case of a family farm lost due to the estate tax. In any case, family farms can be protected by gradually raising exemption levels. Repealing the Estate Tax will likely encourage the growth of mega-farms, thereby hurting smaller operations.[/FONT]
RW - Tax Fairness: Estate Tax Myths and Facts
Why don't you go talk to your accountant instead of letting Republican douche bags jerk you around in a frenzy because they want to protect people that make massive contributions to their campaigns?a
I'm going to write to my representatives and ask them to support legislation to have income taxed the same no matter what source it comes from.
Fine crank up the inheretence tax to 90% and eliminate SS taxes and I won't be jealous.
Gotcha,just like most who think death tax is some how to be shared
your looking for something for nothing, like someone else to pay for your SS..Incidently all the death taxes in the USA would not cover
SS costs..(maybe if it went just to retires it might)
Yep, I think someone inhereting millions should share in the tax burden just like folks who get their money working.
I don't believe the estate tax should be 90%, for the record, my response was tounge in cheek. IMO it should be the same rate folk who earn income should pay, as stated above.
Gotcha,just like most who think death tax is some how to be shared
your looking for something for nothing, like someone else to pay for your SS..Incidently all the death taxes in the USA would not cover
SS costs..(maybe if it went just to retires it might)
Yep, I think someone inhereting millions should share in the tax burden just like folks who get their money working.
I don't believe the estate tax should be 90%, for the record, my response was tounge in cheek. IMO it should be the same rate folk who earn income should pay, as stated above.
They already did
I work hard. I take care of my finances. I plan ahead. I invest wisely.
I do all this to leave a legacy to my family when I pass.
However, when I die, the government will take 45 percent of my estate.
Can anybody defend this?
I work hard. I take care of my finances. I plan ahead. I invest wisely.
I do all this to leave a legacy to my family when I pass.
However, when I die, the government will take 45 percent of my estate.
Can anybody defend this?
What if you screw up, building massive debts? Should your family inherit that?
That's the way it used to be.
What if the business you own stock in goes bankrupt, and has a ton of unpaid debt, like GM or Enron? Shouldn't you, the business owner, be responsible for that debt?
That's the way it used to be.
I think what you're really saying is that you want inheritance to be a one-way street. You get to inherit all the money, but don't have to inherit debt if things don't work out so well.
Did I get that right?
I work hard. I take care of my finances. I plan ahead. I invest wisely.
I do all this to leave a legacy to my family when I pass.
However, when I die, the government will take 45 percent of my estate.
Can anybody defend this?
What if you screw up, building massive debts? Should your family inherit that?
That's the way it used to be.
What if the business you own stock in goes bankrupt, and has a ton of unpaid debt, like GM or Enron? Shouldn't you, the business owner, be responsible for that debt?
That's the way it used to be.
I think what you're really saying is that you want inheritance to be a one-way street. You get to inherit all the money, but don't have to inherit debt if things don't work out so well.
Did I get that right?
instead of taxing one rich person for 1 million dollars, why not tax 1 million people 1 dollar....
instead of taxing one rich person for 1 million dollars, why not tax 1 million people 1 dollar....
Because a million dollars won't pay for spit.
