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You can quote whoever you want -- it remains because of mindless, bigoted partisanship.The reasons Teddy was for it still stand today, even though you seem to have removed his quote.And no reason to keep it other than mindless, bigoted partisanship.It's nothing new that for sure.Estate tax is a progressive idea designed to redistribute wealth, held onto by progressives for no other reason than it is a progressive idea that redistributes wealth."So, taxing large inheritances serves to back up gaps in other taxes. That's especially vital now, as we face a dangerous imbalance between federal spending and revenue. Yes, spending must be cut, but we must also have enough tax revenue to keep the government running. If we kill the estate tax, the money will have to come from somebody else.
Nothing more, nothing less.
'About bloody time there is zero reason to have those who inherit money pay taxes on money that has already been taxed.
5. The Largest Estates Consist Mostly of “Unrealized” Capital Gains That Have Never Been Taxed
Under the current tax system, capital gains tax is due on the appreciation of assets, such as real estate, stock, or an art collection, only when the owner “realizes” the gain (usually by selling the asset). Therefore, the increase in the value of an asset is never subject to income tax if the owner holds on to the asset until death.
These unrealized capital gains account for a significant proportion of the assets held by estates — ranging from 32 percent for estates worth between $5 million and $10 million to as much as about 55 percent of the value of estates worth more than $100 million.
The estate tax also serves as a modest corrective to other tax rules that provide massive tax benefits to income from wealth, such as the fact that capital gains are taxed at lower rates than wages and salaries.
Ten Facts You Should Know About the Federal Estate Tax Center on Budget and Policy Priorities
So?
Can't follow a thread huh? Shocking
Hint try to read what I responded to Bubba!
You really are stupid. Well, Stupid, can you guess the consequences such a STUPID cut will do, or are you so stupid you never think of the consequences of such an act?It should be repealed, the money has already been taxed
Because, according to the will, it belongs to me, not the state.Why should any of someone else's wealth trickle down to you when they die?I can see the GOP's focus on the Middle Class from here.
I'm 199% for helping those who don't need help and not helping those who definitely need help.
Don't worry folks, it'll all trickle down like it has in the past.
And if that stock is subsequently sold, what then?In the stock example here's how a wealth tax works:
You pay $1,000 for some share of what we'll call MicroApple.
You get $10 dividend checks once a year.
That $10 is subject to income taxation.
Now, 30-years later, the paper value of the stock is $1,000,000. Not at all unrealistic. But you're still earning $35,000 a year including the dividend on the number of shares you own, not on their paper value.
But, with a 10% wealth tax, you have to come up with $100,000 to hand over because you still own the stock for which you paid $1,000. You haven't sold any and the value could fall to zero next week but you're still on the hook for at least $65,000 MORE than you earned.
See the fairness in all that?
Me neither.
A wealth tax is not even being considered in the USA. If you were to die and then will that stock to your son lets say, not one penny of the 1 million dollars that stock is worth would be taxed in 2015 by the Feds.
'About bloody time there is zero reason to have those who inherit money pay taxes on money that has already been taxed.
5. The Largest Estates Consist Mostly of “Unrealized” Capital Gains That Have Never Been Taxed
Under the current tax system, capital gains tax is due on the appreciation of assets, such as real estate, stock, or an art collection, only when the owner “realizes” the gain (usually by selling the asset). Therefore, the increase in the value of an asset is never subject to income tax if the owner holds on to the asset until death.
These unrealized capital gains account for a significant proportion of the assets held by estates — ranging from 32 percent for estates worth between $5 million and $10 million to as much as about 55 percent of the value of estates worth more than $100 million.
The estate tax also serves as a modest corrective to other tax rules that provide massive tax benefits to income from wealth, such as the fact that capital gains are taxed at lower rates than wages and salaries.
Ten Facts You Should Know About the Federal Estate Tax Center on Budget and Policy Priorities
So?
Can't follow a thread huh? Shocking
Hint try to read what I responded to Bubba!
The largest estates are not the majority of estates.
I know. This is difficult for you. Your envy has befuddled you.
You can quote whoever you want -- it remains because of mindless, bigoted partisanship.The reasons Teddy was for it still stand today, even though you seem to have removed his quote.And no reason to keep it other than mindless, bigoted partisanship.It's nothing new that for sure.Estate tax is a progressive idea designed to redistribute wealth, held onto by progressives for no other reason than it is a progressive idea that redistributes wealth."So, taxing large inheritances serves to back up gaps in other taxes. That's especially vital now, as we face a dangerous imbalance between federal spending and revenue. Yes, spending must be cut, but we must also have enough tax revenue to keep the government running. If we kill the estate tax, the money will have to come from somebody else.
Nothing more, nothing less.
Estate tax is a progressive idea designed to redistribute wealth, held onto by progressives for no other reason than it is a progressive idea that redistributes wealth.
Nothing more, nothing less
Please, do tell us of the terrible consequences that the nation will suffer if the estate tax is repealed.You really are stupid. Well, Stupid, can you guess the consequences such a STUPID cut will do, or are you so stupid you never think of the consequences of such an act?It should be repealed, the money has already been taxed
You can quote whoever you want -- it remains because of mindless, bigoted partisanship.The reasons Teddy was for it still stand today, even though you seem to have removed his quote.And no reason to keep it other than mindless, bigoted partisanship.It's nothing new that for sure.Estate tax is a progressive idea designed to redistribute wealth, held onto by progressives for no other reason than it is a progressive idea that redistributes wealth."So, taxing large inheritances serves to back up gaps in other taxes. That's especially vital now, as we face a dangerous imbalance between federal spending and revenue. Yes, spending must be cut, but we must also have enough tax revenue to keep the government running. If we kill the estate tax, the money will have to come from somebody else.
Nothing more, nothing less.
Estate tax is a progressive idea designed to redistribute wealth, held onto by progressives for no other reason than it is a progressive idea that redistributes wealth.
Nothing more, nothing less
Because, according to the will, it belongs to me, not the state.Why should any of someone else's wealth trickle down to you when they die?I can see the GOP's focus on the Middle Class from here.
I'm 199% for helping those who don't need help and not helping those who definitely need help.
Don't worry folks, it'll all trickle down like it has in the past.
'About bloody time there is zero reason to have those who inherit money pay taxes on money that has already been taxed.
5. The Largest Estates Consist Mostly of “Unrealized” Capital Gains That Have Never Been Taxed
Under the current tax system, capital gains tax is due on the appreciation of assets, such as real estate, stock, or an art collection, only when the owner “realizes” the gain (usually by selling the asset). Therefore, the increase in the value of an asset is never subject to income tax if the owner holds on to the asset until death.
These unrealized capital gains account for a significant proportion of the assets held by estates — ranging from 32 percent for estates worth between $5 million and $10 million to as much as about 55 percent of the value of estates worth more than $100 million.
The estate tax also serves as a modest corrective to other tax rules that provide massive tax benefits to income from wealth, such as the fact that capital gains are taxed at lower rates than wages and salaries.
Ten Facts You Should Know About the Federal Estate Tax Center on Budget and Policy Priorities
So?
Can't follow a thread huh? Shocking
Hint try to read what I responded to Bubba!
The largest estates are not the majority of estates.
I know. This is difficult for you. Your envy has befuddled you.
I have absolutely no problem with this.... why is the government entitled to a cut of what I have earned and chose to leave to my heirs?
'5. The Largest Estates Consist Mostly of “Unrealized” Capital Gains That Have Never Been Taxed
Under the current tax system, capital gains tax is due on the appreciation of assets, such as real estate, stock, or an art collection, only when the owner “realizes” the gain (usually by selling the asset). Therefore, the increase in the value of an asset is never subject to income tax if the owner holds on to the asset until death.
These unrealized capital gains account for a significant proportion of the assets held by estates — ranging from 32 percent for estates worth between $5 million and $10 million to as much as about 55 percent of the value of estates worth more than $100 million.
The estate tax also serves as a modest corrective to other tax rules that provide massive tax benefits to income from wealth, such as the fact that capital gains are taxed at lower rates than wages and salaries.
Ten Facts You Should Know About the Federal Estate Tax Center on Budget and Policy Priorities
So?
Can't follow a thread huh? Shocking
Hint try to read what I responded to Bubba!
The largest estates are not the majority of estates.
I know. This is difficult for you. Your envy has befuddled you.
Ah. More meme posters. That you pretended other people were using extensively.
Maroon.
The estate tax will generate about $246 billion over 2016-2025 under current law, according to CBO
The estate tax will generate about $246 billion over 2016-2025 under current law, according to CBO
Out of a total of about $50,000 billion in receipts during that period.
One half of one percent.
Chump change.
A wealth tax is not even being considered in the USA.
You chose a ten year period to make the figure as big as possible. An old and tired tactic.The estate tax will generate about $246 billion over 2016-2025 under current law, according to CBO
Out of a total of about $50,000 billion in receipts during that period.
One half of one percent.
Chump change.
lol, Then we could go for more right? ONLY in right wing world, almost a quarter trillion "chump change"
It's like these dip shits on here don't understand that the ultra wealthy have been using that wealth to influence legislation favorable to their tax situation for years and years. Just like they have done now.
What they can't buy at the legislative level they go for by hiring the best tax accountants and estate planners that money can buy to avoid as much tax as they can.
That's why they need middle class Repubs looking out for them. No one else will do it. LMAO.
The decedents of a wealthy person did NOT accumulate or earn the income.
They did nothing to generate the income.
They did nothing to produce the industry/jobs/innovations that produced the fortune.
What did the government do to earn that money? What did the government do to generate that income? What did the government produce that created that fortune?
Did they earn it BECAUSE of US society AND our laws? Hell yeah!
The government didn't do squat to 'earn' someone elses money. Period. Someone's money -- no matter how much or how little -- DOES NOT belong to the government or society, no matter how much you bleat otherwise.
They started businesses, provided jobs, security, growth, prosperity ... and you somehow believe that entitles YOU to what they've earned/accumulated? Why didn't YOU start that business? Why didn't YOU take on that financial risk? Why didn't YOU take on the investments?
Moochers gotta mooch.
What a family earns/accumulates belongs to the family, NOT to you, not to 'society', and certainly not to the fucking government. You want to be in the rich league, go for it. It's a nice place to live.
That military we have costs money. The infrastructure we have cost money. To run the country, it takes money. Let those heirs take the money and earn more. They certainly have a leg up on the rest of society.........
Obama - inarguably the greatest partaker of trickle down economics in the history of the country.
Since he took office - the top 7% have absolutely lavished in a record 33% earnings increase...while the remaining 93% of WORKING Americans have suffered a 5% decrease.
He has taken the phrase "fleecing of America" to whole new levels of taking taxpayer dollars directly to the central banks/Wal Street Firms/Super-Corporations than any other President could have ever imagined.
But leave it to the left to think he represents them and call the GOP the party of the rich.
You just can't make this shit up
