Republicans to repeal inheritance tax!

[Dad2three]

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"

You chose a ten year period to make the figure as big as possible. An old and tired tactic.

So I put it in perspective. $246 billion out of $50 TRILLION.

ONE HALF OF ONE PERCENT OF ALL RECEIPTS.

So, yes. Chump change.

You mean I presented EVIDENCE of the cost of the repeal of the most progressive tax there is? And you tried to minimize a quarter of a trillion dollars? Yes

 

[Dad2three]

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.

That right there is the problem. Richie Rich shakes money, money in front of Joe Politician and Joe Politician, who is suppose to be working for we the people, takes it.

The offer is wrong; the taking of it is criminal.

Fire the asshats in DC.

Yes, I realize that means all of them.

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.........

Where did I ever say no taxes at all? Oh that's right, I didn't.

The government took in over 3 TRILLION in 2014. No amount will ever be enough. The more they take in the more they spend. Period. Get rid of the death tax.

Get money out of politics. Oh wait, can't do that conservatives claim it's "free speech" lol

The historical spending has been pretty steady through the decades

 

[thereisnospoon]

The party of the rich, for the rich, by the rich. Once again, the wolves shear the sheep while the sheep cheer them on.

Republicans Push 269 Billion Handout For Millionaire Heirs And Heiresses

excerpt:

WASHINGTON -- House Republicans this week will vote to hand the heirs and heiresses of America's largest fortunes a $269 billion tax break by repealing the federal inheritance tax.

The legislation would shield the very richest families from taxes on the fortunes they inherit. After years of GOP attacks on the inheritance tax, also known as the estate tax, only a few thousand of the wealthiest families are subjected to it -- 4,700 total in 2013, according to the Joint Committee on Taxation. Only individual fortunes worth over $5.43 million can be taxed under current law, an amount that doubles to $10.86 million for wealthy couples. The Republican proposal would eliminate all of these estates -- which are over 15,700 percent richer than the median American household -- from taxation.

WHat right does the government have to take half the life time of savings one has built?
That money has been taxed many times over.
Inheritance taxes are legalized theft.

 

[Dad2three]

Haggling over the inheritance tax just plays right into the special interests hands. They receive $1.2 trillion in government tax expenditures every year, and we are arguing over $2 billion each year.

Or, if you like, $150 trillion in ten years (at least) vs. $246 billion in ten years.

The inheritance tax isn't even big enough to count as chump change.

In 2014, the estate tax raised $19.3 billion according to the OMB


Estate tax revenues made up 0.6 percent of total federal receipts in 2014.
Policy Basics Where Do Federal Tax Revenues Come From Center on Budget and Policy Priorities


Weird, you'd think it was sooooo little, there would be no reason to argue since it effects soooo few right?

 

[thereisnospoon]

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?

You're not one of them

4,700 total in 2013

New Jersey has the most insidious inheritance taxes in the US.....Heirs are often forced to sell off their birthright just to pay the fucking taxes.
That's criminal.

 

[Dad2three]

The party of the rich, for the rich, by the rich. Once again, the wolves shear the sheep while the sheep cheer them on.

Republicans Push 269 Billion Handout For Millionaire Heirs And Heiresses

excerpt:

WASHINGTON -- House Republicans this week will vote to hand the heirs and heiresses of America's largest fortunes a $269 billion tax break by repealing the federal inheritance tax.

The legislation would shield the very richest families from taxes on the fortunes they inherit. After years of GOP attacks on the inheritance tax, also known as the estate tax, only a few thousand of the wealthiest families are subjected to it -- 4,700 total in 2013, according to the Joint Committee on Taxation. Only individual fortunes worth over $5.43 million can be taxed under current law, an amount that doubles to $10.86 million for wealthy couples. The Republican proposal would eliminate all of these estates -- which are over 15,700 percent richer than the median American household -- from taxation.

WHat right does the government have to take half the life time of savings one has built?
That money has been taxed many times over.
Inheritance taxes are legalized theft.

5. The Largest Estates Consist Mostly of “Unrealized” Capital Gains That Have Never Been Taxed
Ten Facts You Should Know About the Federal Estate Tax Center on Budget and Policy Priorities

 

[thereisnospoon]

The party of the rich, for the rich, by the rich. Once again, the wolves shear the sheep while the sheep cheer them on.

Republicans Push 269 Billion Handout For Millionaire Heirs And Heiresses

excerpt:

WASHINGTON -- House Republicans this week will vote to hand the heirs and heiresses of America's largest fortunes a $269 billion tax break by repealing the federal inheritance tax.

The legislation would shield the very richest families from taxes on the fortunes they inherit. After years of GOP attacks on the inheritance tax, also known as the estate tax, only a few thousand of the wealthiest families are subjected to it -- 4,700 total in 2013, according to the Joint Committee on Taxation. Only individual fortunes worth over $5.43 million can be taxed under current law, an amount that doubles to $10.86 million for wealthy couples. The Republican proposal would eliminate all of these estates -- which are over 15,700 percent richer than the median American household -- from taxation.

Another full o shit lie. The inheritance tax applies to all, you twit. I know ranchers who, after they died, lost their land because their family couldn't afford the Inheritance tax on the property.

What the hell are you, stupid? Or just ignorant?

Happens all the time. Families are often left with crushing tax debt because of these taxes.

 

[thereisnospoon]

baaaaaaaaaa! baaaaaaaaaaaa!

View attachment 39719

Do you think you are entitled to some of the money?.....
Otherwise, what's in it for you?
Or are you one of these people who views taxation as punishment?

 

[thereisnospoon]

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.

That right there is the problem. Richie Rich shakes money, money in front of Joe Politician and Joe Politician, who is suppose to be working for we the people, takes it.

The offer is wrong; the taking of it is criminal.

Fire the asshats in DC.

Yes, I realize that means all of them.

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.........

Where did I ever say no taxes at all? Oh that's right, I didn't.

The government took in over 3 TRILLION in 2014. No amount will ever be enough. The more they take in the more they spend. Period. Get rid of the death tax.

Get money out of politics. Oh wait, can't do that conservatives claim it's "free speech" lol

The historical spending has been pretty steady through the decades

Stay on point.

 

[thereisnospoon]

The party of the rich, for the rich, by the rich. Once again, the wolves shear the sheep while the sheep cheer them on.

Republicans Push 269 Billion Handout For Millionaire Heirs And Heiresses

excerpt:

WASHINGTON -- House Republicans this week will vote to hand the heirs and heiresses of America's largest fortunes a $269 billion tax break by repealing the federal inheritance tax.

The legislation would shield the very richest families from taxes on the fortunes they inherit. After years of GOP attacks on the inheritance tax, also known as the estate tax, only a few thousand of the wealthiest families are subjected to it -- 4,700 total in 2013, according to the Joint Committee on Taxation. Only individual fortunes worth over $5.43 million can be taxed under current law, an amount that doubles to $10.86 million for wealthy couples. The Republican proposal would eliminate all of these estates -- which are over 15,700 percent richer than the median American household -- from taxation.

Another full o shit lie. The inheritance tax applies to all, you twit. I know ranchers who, after they died, lost their land because their family couldn't afford the Inheritance tax on the property.

What the hell are you, stupid? Or just ignorant?

so THATS how ranches stay in the same family for 100 years ???

I know fourth and fifth generation ranches in three different states .. are YOU stupid or FOS?

He wasn't claiming it happens to all ranchers... geesh.

so what the hell was his point ?

people who don't know how to manage their $$ and property deserve to lose it?

geesh, indeed

They deserve to lose it?....You are one cruel son of a bitch.
You should be punched in the nuts.

 

[Political Junky]

It only taxes estates of $10,000,000. and more. Most poor republicans don't know that it's just for very rich folks.

 

[Wry Catcher]

It should be repealed, the money has already been taxed

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?

Please, do tell us of the terrible consequences that the nation will suffer if the estate tax is repealed.

I could, in detail. But you won't read it so I'll post only the executive summary:

Plutocracy: An Oligarchy of the Rich and power elite.

Sheldon Adelson.

Paris Hilton.

Duke Cunningham

Jack Abramoff

Grover Norquist

 

[LeftofLeft]

The party of the rich, for the rich, by the rich. Once again, the wolves shear the sheep while the sheep cheer them on.

Why do you hate people with money?

You really can't hate people with money if you vote for the 1%.... Kennedy, Pelosi, Reid, Kerry, Gore, Clinton, Obama. These families will make damn sure their money reaches their own generations. Why Liberal voters buy into a locked-in 1% is beyond me.

 

[Dad2three]

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.

That right there is the problem. Richie Rich shakes money, money in front of Joe Politician and Joe Politician, who is suppose to be working for we the people, takes it.

The offer is wrong; the taking of it is criminal.

Fire the asshats in DC.

Yes, I realize that means all of them.

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.........

Where did I ever say no taxes at all? Oh that's right, I didn't.

The government took in over 3 TRILLION in 2014. No amount will ever be enough. The more they take in the more they spend. Period. Get rid of the death tax.

Get money out of politics. Oh wait, can't do that conservatives claim it's "free speech" lol

The historical spending has been pretty steady through the decades

Stay on point.

YOUR DODGE NOTED BUBBA

5. The Largest Estates Consist Mostly of “Unrealized” Capital Gains That Have Never Been Taxed
Ten Facts You Should Know About the Federal Estate Tax Center on Budget and Policy Priorities

 

[Dad2three]

The party of the rich, for the rich, by the rich. Once again, the wolves shear the sheep while the sheep cheer them on.

Republicans Push 269 Billion Handout For Millionaire Heirs And Heiresses

excerpt:

WASHINGTON -- House Republicans this week will vote to hand the heirs and heiresses of America's largest fortunes a $269 billion tax break by repealing the federal inheritance tax.

The legislation would shield the very richest families from taxes on the fortunes they inherit. After years of GOP attacks on the inheritance tax, also known as the estate tax, only a few thousand of the wealthiest families are subjected to it -- 4,700 total in 2013, according to the Joint Committee on Taxation. Only individual fortunes worth over $5.43 million can be taxed under current law, an amount that doubles to $10.86 million for wealthy couples. The Republican proposal would eliminate all of these estates -- which are over 15,700 percent richer than the median American household -- from taxation.

Another full o shit lie. The inheritance tax applies to all, you twit. I know ranchers who, after they died, lost their land because their family couldn't afford the Inheritance tax on the property.

What the hell are you, stupid? Or just ignorant?

Happens all the time. Families are often left with crushing tax debt because of these taxes.

LOL....

 

[Rozman]

The party of the rich, for the rich, by the rich. Once again, the wolves shear the sheep while the sheep cheer them on.

Republicans Push 269 Billion Handout For Millionaire Heirs And Heiresses

excerpt:

WASHINGTON -- House Republicans this week will vote to hand the heirs and heiresses of America's largest fortunes a $269 billion tax break by repealing the federal inheritance tax.

The legislation would shield the very richest families from taxes on the fortunes they inherit. After years of GOP attacks on the inheritance tax, also known as the estate tax, only a few thousand of the wealthiest families are subjected to it -- 4,700 total in 2013, according to the Joint Committee on Taxation. Only individual fortunes worth over $5.43 million can be taxed under current law, an amount that doubles to $10.86 million for wealthy couples. The Republican proposal would eliminate all of these estates -- which are over 15,700 percent richer than the median American household -- from taxation.

WHat right does the government have to take half the life time of savings one has built?
That money has been taxed many times over.
Inheritance taxes are legalized theft.

It goes to the lefts thinking that our money belongs to the government first.

 

[Disir]

The party of the rich, for the rich, by the rich. Once again, the wolves shear the sheep while the sheep cheer them on.

Republicans Push 269 Billion Handout For Millionaire Heirs And Heiresses

excerpt:

WASHINGTON -- House Republicans this week will vote to hand the heirs and heiresses of America's largest fortunes a $269 billion tax break by repealing the federal inheritance tax.

The legislation would shield the very richest families from taxes on the fortunes they inherit. After years of GOP attacks on the inheritance tax, also known as the estate tax, only a few thousand of the wealthiest families are subjected to it -- 4,700 total in 2013, according to the Joint Committee on Taxation. Only individual fortunes worth over $5.43 million can be taxed under current law, an amount that doubles to $10.86 million for wealthy couples. The Republican proposal would eliminate all of these estates -- which are over 15,700 percent richer than the median American household -- from taxation.

Then why not demand that they change the section of the law that allows the states to put a lien on houses to collect for Medicare? Fair is fair, right?

 

[LeftofLeft]

It only taxes estates of $10,000,000. and more. Most poor republicans don't know that it's just for very rich folks.

"It" in any form, is bad for US. Do you think the African elite families who sold their people into slavery pay estate taxes? Think the Kims in North Korea or the Castros in Cuba are paying estate taxes? How about the Saudis? If they aren't, why the fuck should we do it? Unlike those corrupt cultures and "economies", we give people freedom and opportunity to advance. You people need to stop trying to take that away.

 

[Wry Catcher]

The party of the rich, for the rich, by the rich. Once again, the wolves shear the sheep while the sheep cheer them on.

Why do you hate people with money?

You really can't hate people with money if you vote for the 1%.... Kennedy, Pelosi, Reid, Kerry, Gore, Clinton, Obama. These families will make damn sure their money reaches their own generations. Why Liberal voters buy into a locked-in 1% is beyond me.

Not all of the very rich are callous assholes. It's usually those who inherited great wealth who feel entitled and seek to change the laws to benefit themselves and their issues, i.e. the Koch Brothers are the archetype.

Others, such as Bill Gates, many Hollywood personalities and the Kennedy's accept the inferred responsibility of privileged people to act with generosity and nobility toward those less privileged, i.e. noblesse oblige.

 

[Dad2three]

It only taxes estates of $10,000,000. and more. Most poor republicans don't know that it's just for very rich folks.

"It" in any form, is bad for US. Do you think the African elite families who sold their people into slavery pay estate taxes? Think the Kims in North Korea or the Castros in Cuba are paying estate taxes? How about the Saudis? If they aren't, why the fuck should we do it? Unlike those corrupt cultures and "economies", we give people freedom and opportunity to advance. You people need to stop trying to take that away.

9. The United States Taxes Estates More Lightly Than Comparable Countries
Twenty-seven of the 34 members of the Organisation for Economic Co-Operation and Development levied some form of estate tax, inheritance tax, or other wealth or wealth transfer tax in 2012 (the latest year for which full data are available). U.S. estate and gift tax revenues at all levels of government were well below average among these 27 countries as a share of the economy.[24]

10. The Estate Tax Is the Most Progressive Part of the U.S. Tax Code



Ten Facts You Should Know About the Federal Estate Tax Center on Budget and Policy Priorities