How will eliminating the Estate Tax benefit the Middle class?

[Spare_change]

A Death tax is double taxation...

See? Facts are valuable ... let's see them refute the truth.

The Estate tax is not double taxation. It's a substitute for the Capital Gains tax, as you've already been told. It's intent is not to double tax anything, but to tax gains. And, no you f1cking ignoramus, when the heir sells his inheritance, he doesn't pay capital gains, because the estate tax covered it.

At least when Democrats believe stupid things, it's to get handouts and special privileges. But, when you and your fellow neoconned retards believe stupid things, it's to screw yourselves. In this case, you want tax breaks for the rich, which will increase your taxes as you pick up the slack.

You have said this multiple times, but when challenged, have offered nothing in the way of proof other than childish insults and immature name calling.

Will THIS be the time?

 

[Brain357]

It typically doesn't. BUT why are the SWAMP RaTz entitled to it in the first place? It was taxed when it was accumulated.

If you actually look at the facts it often was not taxed when accumulated. For instance if the deceased bought a stock that grew greatly in value. Taxes were never paid because it was never sold.

Keep going ... follow it to its logical conclusion.

The investments are taxed in accordance with the estate tax (or, at least, that's what liberals propose).

The heirs keep the investments for some period of time - 5 years, 10 years, etc - and, when cashing out those investments, are subject to capital gains tax again on the growth of the investment (despite what idiots like Bulletproof are trying to say).

THAT is double taxation.

The heirs will be taxed when they sell, but they will be taxed based on the value of the stock when they inherited it. All the gains from the deceased will not be taxed.

 

[westwall]

It doesnt create jobs lol
I wonder how kids with not a lot of money pay for their families estate?

The estate pays the tax.

So lets say your mommy and daddy are worth $10 million dollars- and both die in a tragic automobile accident.

You inherit all $10 million dollars free and clear- because the joint exemption for your parents wealth is $10.98 million

Now if your parents are worth $20 million- their estate will have to pay estate taxes on approximately $9 million- and you will get the $11 million + plus the balance of the $9 million after taxes.

How will eliminating that tax create jobs or help the middle class- both which the Republicans and Trump have said this tax change is intended to do?

Yes, the estate pays the tax, which in many cases means the inheritance is lost to the State. The middle class has a net worth under 5 million dollars. Thus, under the trump plan the middle class is exempt from the death tax. Why do you want to harm the middle class?

If the estate tax is a percentage of the whole, how can it be lost to the State?

FYI, the 5M exception was signed into law by Obama in 2012.

Because many times the costs associated with trying to keep what is legally theirs is consumed by legal fees, accountant fees etc. And, in certain cases the home is the majority of the value of the estate thus, when they are unable to pay the property taxes they must sell the family home to pay them.

You're not very smart are you.

 

[BulletProof]

Because many times the costs associated with trying to keep what is legally theirs is consumed by legal fees, accountant fees etc. And, in certain cases the home is the majority of the value of the estate thus, when they are unable to pay the property taxes they must sell the family home to pay them.

What are these monstrous fees that have you crying? Stock values can be googled in a second. A property assessor doesn't cost much, and you could even go with the free county assessment which happily is usually low-balled.

The estate tax is a tax on the property of dead people. Dead people don't need a home. Further, if the home is over 11 million dollars (the exemption amount), I'm sure there's enough in the estate to pay the estate tax without selling the home. If it doesn't pan out, I'm sorry for the horrible hardship to the heirs who have to sell the 20 million dollar home that they probably never lived in, and pocket over 16 million dollars in the process. Maybe you might find some compassion in your stone-cold neocon heart for poor people who are still alive and lose their home over property taxes?

You're not very smart are you.

You shouldn't talk to yourself like that.

 

[Spare_change]

It typically doesn't. BUT why are the SWAMP RaTz entitled to it in the first place? It was taxed when it was accumulated.

If you actually look at the facts it often was not taxed when accumulated. For instance if the deceased bought a stock that grew greatly in value. Taxes were never paid because it was never sold.

Keep going ... follow it to its logical conclusion.

The investments are taxed in accordance with the estate tax (or, at least, that's what liberals propose).

The heirs keep the investments for some period of time - 5 years, 10 years, etc - and, when cashing out those investments, are subject to capital gains tax again on the growth of the investment (despite what idiots like Bulletproof are trying to say).

THAT is double taxation.

The heirs will be taxed when they sell, but they will be taxed based on the value of the stock when they inherited it. All the gains from the deceased will not be taxed.

Proof, PLEASE!

 

[Billo_Really]

Dang ---- feeling angry today?

Let me guess ... you didn't get your milk and cookies at school today, huh?

No one should drink milk. Even cows cut it off after their calves get fat.

 

[Brain357]

It typically doesn't. BUT why are the SWAMP RaTz entitled to it in the first place? It was taxed when it was accumulated.

If you actually look at the facts it often was not taxed when accumulated. For instance if the deceased bought a stock that grew greatly in value. Taxes were never paid because it was never sold.

Keep going ... follow it to its logical conclusion.

The investments are taxed in accordance with the estate tax (or, at least, that's what liberals propose).

The heirs keep the investments for some period of time - 5 years, 10 years, etc - and, when cashing out those investments, are subject to capital gains tax again on the growth of the investment (despite what idiots like Bulletproof are trying to say).

THAT is double taxation.

The heirs will be taxed when they sell, but they will be taxed based on the value of the stock when they inherited it. All the gains from the deceased will not be taxed.

Proof, PLEASE!

When Does Inherited Stock Become Taxable?

When you inherit stock, the cost basis on the shares changes. Instead of using the cost that the former owner -- the decedent -- paid, your cost basis is the share value on the date the former owner died. This "step up" in cost basis can be a tremendous advantage if the shares were purchased at a low price and have increased significantly in value. As an example, the person who left you the shares paid $5,000 for them. On the date of death the stock was worth $50,000. Your cost basis is the $50,000, and the $45,000 gain from the original purchase will not be taxed.

 

[Conservative65]

It typically doesn't. BUT why are the SWAMP RaTz entitled to it in the first place? It was taxed when it was accumulated.

If you actually look at the facts it often was not taxed when accumulated. For instance if the deceased bought a stock that grew greatly in value. Taxes were never paid because it was never sold.

Keep going ... follow it to its logical conclusion.

The investments are taxed in accordance with the estate tax (or, at least, that's what liberals propose).

The heirs keep the investments for some period of time - 5 years, 10 years, etc - and, when cashing out those investments, are subject to capital gains tax again on the growth of the investment (despite what idiots like Bulletproof are trying to say).

THAT is double taxation.

The heirs will be taxed when they sell, but they will be taxed based on the value of the stock when they inherited it. All the gains from the deceased will not be taxed.

Proof, PLEASE!

When Does Inherited Stock Become Taxable?

When you inherit stock, the cost basis on the shares changes. Instead of using the cost that the former owner -- the decedent -- paid, your cost basis is the share value on the date the former owner died. This "step up" in cost basis can be a tremendous advantage if the shares were purchased at a low price and have increased significantly in value. As an example, the person who left you the shares paid $5,000 for them. On the date of death the stock was worth $50,000. Your cost basis is the $50,000, and the $45,000 gain from the original purchase will not be taxed.

Neither should the $5000.

Just more money that can be wasted on some freeloader living off the taxpayers.

 

[Brain357]

If you actually look at the facts it often was not taxed when accumulated. For instance if the deceased bought a stock that grew greatly in value. Taxes were never paid because it was never sold.

Keep going ... follow it to its logical conclusion.

The investments are taxed in accordance with the estate tax (or, at least, that's what liberals propose).

The heirs keep the investments for some period of time - 5 years, 10 years, etc - and, when cashing out those investments, are subject to capital gains tax again on the growth of the investment (despite what idiots like Bulletproof are trying to say).

THAT is double taxation.

The heirs will be taxed when they sell, but they will be taxed based on the value of the stock when they inherited it. All the gains from the deceased will not be taxed.

Proof, PLEASE!

When Does Inherited Stock Become Taxable?

When you inherit stock, the cost basis on the shares changes. Instead of using the cost that the former owner -- the decedent -- paid, your cost basis is the share value on the date the former owner died. This "step up" in cost basis can be a tremendous advantage if the shares were purchased at a low price and have increased significantly in value. As an example, the person who left you the shares paid $5,000 for them. On the date of death the stock was worth $50,000. Your cost basis is the $50,000, and the $45,000 gain from the original purchase will not be taxed.

Neither should the $5000.

Just more money that can be wasted on some freeloader living off the taxpayers.

We are deeply in debt. And the claims of double taxation are clearly false.

 

[Conservative65]

Keep going ... follow it to its logical conclusion.

The investments are taxed in accordance with the estate tax (or, at least, that's what liberals propose).

The heirs keep the investments for some period of time - 5 years, 10 years, etc - and, when cashing out those investments, are subject to capital gains tax again on the growth of the investment (despite what idiots like Bulletproof are trying to say).

THAT is double taxation.

The heirs will be taxed when they sell, but they will be taxed based on the value of the stock when they inherited it. All the gains from the deceased will not be taxed.

Proof, PLEASE!

When Does Inherited Stock Become Taxable?

When you inherit stock, the cost basis on the shares changes. Instead of using the cost that the former owner -- the decedent -- paid, your cost basis is the share value on the date the former owner died. This "step up" in cost basis can be a tremendous advantage if the shares were purchased at a low price and have increased significantly in value. As an example, the person who left you the shares paid $5,000 for them. On the date of death the stock was worth $50,000. Your cost basis is the $50,000, and the $45,000 gain from the original purchase will not be taxed.

Neither should the $5000.

Just more money that can be wasted on some freeloader living off the taxpayers.

We are deeply in debt. And the claims of double taxation are clearly false.

Quit spending more than we have.

Where did I say double taxation? However, you claim they are false yet don't back it up. No one takes the word of a coward like you.

 

[danielpalos]

Eliminating any tax is good.

Here's an idea, spend less.

Awww, c'mon .... get real.

You KNOW that ain't gonna happen !!!!

When the debt becomes untenable, and if history is any judge, it will, we get to reboot and you bet your ass we'll spend less.

Lousy fiscal policy is a reason to argue with the right wing. They cannot be serious about really serious times of war, if they feel they can lower taxes like during real times of peace.

In consideration of the monstrous sacrifice in property and blood that each war demands of the people, personal enrichment through a war must be designated as a crime against the people. Therefore, we demand the total confiscation of all war profits.

 

[danielpalos]

Eliminating any tax is good.

Here's an idea, spend less.

Awww, c'mon .... get real.

You KNOW that ain't gonna happen !!!!

When the debt becomes untenable, and if history is any judge, it will, we get to reboot and you bet your ass we'll spend less.

No doubt
The federal government has an unpayable debt, robbing Peter to pay Paul just does not work… LOL

Tax the inheritances of the rich, until the we have massive surpluses again.

 

[Brain357]

The heirs will be taxed when they sell, but they will be taxed based on the value of the stock when they inherited it. All the gains from the deceased will not be taxed.

Proof, PLEASE!

When Does Inherited Stock Become Taxable?

When you inherit stock, the cost basis on the shares changes. Instead of using the cost that the former owner -- the decedent -- paid, your cost basis is the share value on the date the former owner died. This "step up" in cost basis can be a tremendous advantage if the shares were purchased at a low price and have increased significantly in value. As an example, the person who left you the shares paid $5,000 for them. On the date of death the stock was worth $50,000. Your cost basis is the $50,000, and the $45,000 gain from the original purchase will not be taxed.

Neither should the $5000.

Just more money that can be wasted on some freeloader living off the taxpayers.

We are deeply in debt. And the claims of double taxation are clearly false.

Quit spending more than we have.

Where did I say double taxation? However, you claim they are false yet don't back it up. No one takes the word of a coward like you.

I just backed it up obviously.

 

[Syriusly]

lol. Money has been earned at least once; why complain about giving it to the poor.

You think estate taxes go to the poor? Good thinking McFly.

This is the context, dear: The government is taxing things that have already been taxed.

Money has been earned at least once; why complain about giving it to the poor via social programs?

Because I earned it, they did not, but that's beside the point. The point is that it's an unfair tax and should be eliminated altogether.

'an unfair tax'

Taxes on struggling middle class wager earners are 'fair' but taxes on the estate of multi-millionaires are 'unfair'

No- Ivanka and her siblings haven't earned Donald's billions- but under Trump's plans- they certainly will benefit- the Trump family will save about $4 billion dollars in estate taxes under Trump's plans.

Income taxes are unconstitutional and always have been.

According to whom are income taxes 'unconstitutional'?

Sixteenth Amendment to the United States Constitution - Wikipedia

 

[Syriusly]

Why do you believe the government deserves anything from an estate?
Taxes have already been paid on that wealth?

Not the question of the OP but why do you believe that the government deserves anything from anyone?

No one wants to pay taxes- but taxes on the estate a billionaire that none of the heirs 'earned' are just as fair as taxes on the income of a struggling middle class family

 

[Syriusly]

. . .
Now if your parents are worth $20 million- their estate will have to pay estate taxes on approximately $9 million- and you will get the $11 million + plus the balance of the $9 million after taxes.

How will eliminating that tax create jobs or help the middle class- both which the Republicans and Trump have said this tax change is intended to do?

Have you ever had any sort of a cash windfall in your life?

Have you ever won a bunch of money or fond some?

A lot of people have. Myself, included.

Guess what "those" people tend to do with their windfalls?

They BUY shit. They take trips. They INVEST in other opportunities. They donate to charities.

ALL of which is a benefit to the middle class.

Well that is very nice speculation on a supposed 'trickle down' effect. And I applaud you- you are the second poster in this entire thread to actually address the question.

Yeah the heirs might buy shit- they might buy shit here- or buy shit in Mexico or a vineyard in France. They might take a trip to the Grand Canyon- or the Grand Caymans. They might buy Apple stock- or they might invest in a factory in China. They might donate to charities- here or abroad.

Some of that might go to middle class Americans. Or it might not. Certainly not a sure thing- certainly not a sure win for the middle class.

But I am looking forward to hearing the Republicans make that same argument to explain why any tax cut to the rich benefits the middle class.

Who makes the shit that rich people buy?

How are those people not befitting from the jobs created by the increase in demmand?

I just pointed out specifically- but I am glad to copy and paste again since you didn't bother to read my post.

Well that is very nice speculation on a supposed 'trickle down' effect. And I applaud you- you are the second poster in this entire thread to actually address the question.

Yeah the heirs might buy shit- they might buy shit here- or buy shit in Mexico or a vineyard in France. They might take a trip to the Grand Canyon- or the Grand Caymans. They might buy Apple stock- or they might invest in a factory in China. They might donate to charities- here or abroad.

Some of that might go to middle class Americans. Or it might not. Certainly not a sure thing- certainly not a sure win for the middle class.

But I am looking forward to hearing the Republicans make that same argument to explain why any tax cut to the rich benefits the middle class.

 

[Syriusly]

On some threads, you instantly know it was posted up by a mental case progressive!!

On threads like this, you can tell the mental case Contards who respond- Anything that benefits Trump or his family or the wealthy is good. Anything that doesn't- is bad.

 

[Syriusly]

lol. Money has been earned at least once; why complain about giving it to the poor.

You think estate taxes go to the poor? Good thinking McFly.

This is the context, dear: The government is taxing things that have already been taxed.

Money has been earned at least once; why complain about giving it to the poor via social programs?

Because I earned it, they did not, but that's beside the point. The point is that it's an unfair tax and should be eliminated altogether.

'an unfair tax'

Taxes on struggling middle class wager earners are 'fair' but taxes on the estate of multi-millionaires are 'unfair'

No- Ivanka and her siblings haven't earned Donald's billions- but under Trump's plans- they certainly will benefit- the Trump family will save about $4 billion dollars in estate taxes under Trump's plans.

Never said that. Do you know how to read?

Hell that should be my stock answer to every post you make.

I responded to your whine about the 'unfair' tax- addressing your whine- you don't like that- how shocking.

'an unfair tax'

Taxes on struggling middle class wager earners are 'fair' but taxes on the estate of multi-millionaires are 'unfair'

No- Ivanka and her siblings haven't earned Donald's billions- but under Trump's plans- they certainly will benefit- the Trump family will save about $4 billion dollars in estate taxes under Trump's plans.

 

[Syriusly]

It doesnt create jobs lol
I wonder how kids with not a lot of money pay for their families estate?

The estate pays the tax.

So lets say your mommy and daddy are worth $10 million dollars- and both die in a tragic automobile accident.

You inherit all $10 million dollars free and clear- because the joint exemption for your parents wealth is $10.98 million

Now if your parents are worth $20 million- their estate will have to pay estate taxes on approximately $9 million- and you will get the $11 million + plus the balance of the $9 million after taxes.

How will eliminating that tax create jobs or help the middle class- both which the Republicans and Trump have said this tax change is intended to do?

Doesn't matter.

Why does the government get to take 9 million dollars of a person's inheritance? Is it because they deem that no person "needs" to inherit that much?

Why does the government get to take any person;s money? Taxes are taxes.

I don't know why you think an income tax on struggling middle class voters is somehow more fair than an inheritance tax on multi-millionaires.

In both cases the government takes money from people.

The estate tax is taxing money that has already been taxed once.

If there is going to be an income tax then everyone with an income should pay the tax.
The only fair income tax is a flat tax

I would be all for a flat tax on wealth- that would be 'fair' as far as I am concerned.

 

[Skull Pilot]

It doesnt create jobs lol
I wonder how kids with not a lot of money pay for their families estate?

The estate pays the tax.

So lets say your mommy and daddy are worth $10 million dollars- and both die in a tragic automobile accident.

You inherit all $10 million dollars free and clear- because the joint exemption for your parents wealth is $10.98 million

Now if your parents are worth $20 million- their estate will have to pay estate taxes on approximately $9 million- and you will get the $11 million + plus the balance of the $9 million after taxes.

How will eliminating that tax create jobs or help the middle class- both which the Republicans and Trump have said this tax change is intended to do?

Doesn't matter.

Why does the government get to take 9 million dollars of a person's inheritance? Is it because they deem that no person "needs" to inherit that much?

Why does the government get to take any person;s money? Taxes are taxes.

I don't know why you think an income tax on struggling middle class voters is somehow more fair than an inheritance tax on multi-millionaires.

In both cases the government takes money from people.

The estate tax is taxing money that has already been taxed once.

If there is going to be an income tax then everyone with an income should pay the tax.
The only fair income tax is a flat tax

I would be all for a flat tax on wealth- that would be 'fair' as far as I am concerned.

wealth isn't income.

but hey if you want a government stooge rifling through all your possessions every year and taxing you on them....