Republicans to repeal inheritance tax!

[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.

Where is the handout? It is already their money...

The "Handout" comes later, when the children use the largess to 'donate' to those who write laws, which aid the the very wealthy to secure for them more and more wealth - see the Brother's Koch for an example. And if you're of the mind to, see in your minds eye the dystopian future if the Republicans get their way; how will our nation look when all of the wealth is hidden behind gated enclaves, and the hoi polloi live from hand to mouth?

How long will it take, before what the power elite fear the most, rises up? Anyone with a fundamental knowledge of history should understand how the current iteration of the far right today can and will lead to violence unless they wake up.

See, for example the list of popular revolts over the millenniums:

List of revolutions and rebellions - Wikipedia the free encyclopedia

The First, the Set rebellion of 2740 BC; the most recent, 2014–15 Yemeni coup.

In between, thousands of events - some great, some small but all violent.

You make no sense at all. you ASSUME that they would put their money (note, it is already their money, it is NOT governments) to do as you say.

Yet you have no problem in taking money from people and putting it to use for what you want. Its only those who inherit that are not permitted to proctect their own interests?

Oh, and that is STILL NOT a handout.

BTW...why do you use the Koch brothers? Why not the Clitnons or the Kennedys or the Soros'?

Perhaps because they are the selfish bastards fighting to destroy the nation and would prefer the US looked like some Ayn Rand fetish book?

 

[Dad2three]

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

I never knew that the President of the States determined wages.
One of the primary causes for the wealth gap/ineqaulity is the over three decades of flat wages in Real Dollars. Did Reagan, George HW, Clinton, "W", also control wages?

You don't read too good.
I notice how you skipped over the trickle down economics that Obama champions...no surprise.
No one on the left acknowledges anything he does wrong.

Please tell me more of your nonsense? What "trickle down'?

 

[Dad2three]

When it comes to individuals, the income tax, estate tax, and capital gains taxes should all be eliminated. Go to a consumption tax. This will never happen but one can dream.

I am a firm believer that a collective prosperity can never be achieved through economic policies rooted in punitive class envy policies. Ironically, a consumption tax could be argued that it is derived from the tenet of Marxism: from each according to his ability (to buy) to each according to his need (incentive to buy means more funding for social programs).

More libertarian BS. Your Ayn Rand fetishism is silly....

You will not be satisfied until a true 1 percent wealthy elite is locked in here in the US and the masses are living with little to no advancement potential or improvement in personal wealth.

Says the Klown who stands with those who are trying to make it happen. Weird

 

[Dot Com]

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.

its who they work for

 

[Dad2three]

Humm, why do you suppose the Black Chamber of Commerce supports drastically reducing the death tax? Because black small business owners have discovered the same thing that white small business owners have discovered: that the death tax often makes it impossible for a small business owner to leave his business to his children.

The death tax is one of the most patently immoral, wrong-headed taxes ever conceived. Where on earth does the government get off taking half of what you leave behind to your family when you die?

Repeal The Death Tax And Send It To A Deep Grave - Investors.com

Vote To Abolish Death Tax Long Overdue - Jim Martin - Page full

What nonsense, UNLESS of course you "think", $11 million a couple is "small Biz"

 

[Dad2three]

We have so many people who can't see a fat man standing beside a thin one without coming to the conclusion the fat man got that way by taking advantage of the thin one. - Ronald Reagan

The guy who chose to tilt the playing field toward the fat guy 34 years ago???

Nah., Gov't policy doesn't create wealth you tool!

No, it really doesn't, dumbass, which you would know if you had ever done anything productive in your whole, misbegotten existence.

The most that government policy can do in this regard is to not hamper and block wealth creation.

Right, THAT'S why there are soooo many wealthy families in Honduras and Somalia right? Wingnutters *shaking head*

 

[Dad2three]

Republicans hate this country. They want it to die. They don't want to support this country in any way. But they are so stupid, they don't realize they have no where else to go. Who wants American Republicans? Unless it's Bush or Cheney because other countries want to put them on trial for being war criminals.

It's the Democrats who have passed unfunded mandates and want the country to die so that they can get their big government control.

Yeah, like taxc cuts for the "job creators", 2 unfunded wars and unfunded Medicare expansion? Oh wait that's the GOPers!

 

[Dad2three]

Conservatives/GOP ALWAYS trying to keep the AmeriKa THEY love to be an aristocracy over a merit based society. Weird

Starting on 3rd base to them means everyone's is equal, lol

No amount of handicapping others is going to make you any less inferior, so give it up.

Got it, you'll stick with the right wing hate echo chamber void of honesty or integrity. Shocking

 

[Ame®icano]

HOW has MOST of that money been taxed as it's just capital gains that has NEVER been taken out? Buy a bunch of stock at $1 million and sell it 30 years later for $50 million ONLY dividends have been paid!

These kind of comments occurs when crazy fucks the confused and don't know what happened.

Yep, it takes money to buy stocks. That would be cash in... If you never sell the stock, they have cash value, but they're not cash. You pay tax only when you cash out on the stock. When you get paid dividends (profit share), you pay tax on cash you earned. Difference between cash in and cash out is a profit (or loss), you pay tax on profit.

AND as I've posited, TAXES HAVE YET TO BE PAID ON THE ACCRUED CAPITAL EXPANSION DUMBSHIT. Think Koch's have paid taxes on their $60 billion wealth? lol

He doesn't have to pay as long he doesn't cash out his wealth. And there is no reason he should.

 

[Dad2three]

God forbid the kids of the superrich are actually allowed to run anything we have our 401K pittances in. Seriously, rent the documentary Born Rich, by one of the Johnson heirs, to see the level of cognitive function inbreeding brings.

How are you entitled to part of the money left to someone by someone else?

All Property, indeed, except the Savage's temporary Cabin, his Bow, his Matchcoat, and other little Acquisitions, absolutely necessary for his Subsistence, seems to me to be the Creature of public Convention. Hence the Public has the Right of Regulating Descents, and all other Conveyances of Property, and even of limiting the Quantity and the Uses of it. All the Property that is necessary to a Man, for the Conservation of the Individual and the Propagation of the Species, is his natural Right, which none can justly deprive him of: But all Property superfluous to such purposes is the Property of the Publick, who, by their Laws, have created it, and who may therefore by other Laws dispose of it, whenever the Welfare of the Publick shall demand such Disposition. He that does not like civil Society on these Terms, let him retire and live among Savages. He can have no right to the benefits of Society, who will not pay his Club towards the Support of it. Ben Franklin

 

[Dad2three]

I thought Rebpubs were against freeloaders and handouts.


Also, the ABA and every CPA lobby will never let this one go anywhere as Trusts and estate planning are a major profit center for them.

We are against freeloaders and handouts, which is why we oppose the government demanding that people give their money to them to redistribute, rather than giving it to the person of their choice.

But thanks for sharing your theory that the government is taking people's money in order to prevent handouts, you disingenuous prick. It was the stupidest attempt to be clever that I've heard all week.

To be accurate, over half of the taxes collected on this are paid by the 1-1000th richest, and even there it's not like their kids are being hurt. Their estates avoid the taxes mostly by giving to private charities, like the Robert Woods Johnson fund. No one, no one, no one, at Johnson and Johnson wants Woody Johnson anywhere near the corporation as the man can't even run an NFL team, where it's literally impossible not to make money .... I mean you cannot help but make money if you're rich enough to buy one.

The the less than genius kids get jobs at the Foundations, where they're paid well and don't have chances to get into too much trouble.

God forbid the kids of the superrich are actually allowed to run anything we have our 401K pittances in. Seriously, rent the documentary Born Rich, by one of the Johnson heirs, to see the level of cognitive function inbreeding brings.

To be accurate, "It's not really going to hurt them if we take it" is not a valid excuse for you being a greedy fuck. Neither is "They're rich". IT'S NOT YOURS. You have not said anything that mitigates or eliminates this fact. I don't expect you ever will. IT IS NOT YOURS. IT IS THEIRS. Period. End of discussion.

Fuck you bitch for the name calling, and fuck you too for wanting my money.

As if you little bitch Gov't teet sucker would EVER be subject to an estate tax, lol

 

[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.

Awesome.

We shouldn't be taxing wealth like this.

You are correct. It should be around 75% on ANYTHING above about $50 million

 

[Dad2three]

[
God forbid the kids of the superrich are actually allowed to run anything we have our 401K pittances in. Seriously, rent the documentary Born Rich, by one of the Johnson heirs, to see the level of cognitive function inbreeding brings.

How are you entitled to part of the money left to someone by someone else?

I don't tax anyone, wargamer.

You also don't answer questions.
I'll ask again:
How are you entitled to part of the money left to someone by someone else?

Kodos on getting the ASL reference.

The government is entitled to it and all the taxes it collects by the authority of the US Constitution and the laws that Congress passed. It certainly isn't for personal gain by any one individual as you seem to want to suggest.

I think the question is why? Why is it ok take roughly 40% of what someone accumulated? Accumulated out of after tax money just because they had the misfortune of dying? What's your justification?

All Property, indeed, except the Savage's temporary Cabin, his Bow, his Matchcoat, and other little Acquisitions, absolutely necessary for his Subsistence, seems to me to be the Creature of public Convention. Hence the Public has the Right of Regulating Descents, and all other Conveyances of Property, and even of limiting the Quantity and the Uses of it. All the Property that is necessary to a Man, for the Conservation of the Individual and the Propagation of the Species, is his natural Right, which none can justly deprive him of: But all Property superfluous to such purposes is the Property of the Publick, who, by their Laws, have created it, and who may therefore by other Laws dispose of it, whenever the Welfare of the Publick shall demand such Disposition. He that does not like civil Society on these Terms, let him retire and live among Savages. He can have no right to the benefits of Society, who will not pay his Club towards the Support of it.

Ben Franklin

 

[JimH52]

And the Rich get Richer. Old RR is laughing in his tomb. "Trickle down is really working. Soon, all the poor will be totally dependent on the ultra-rich."

Slavery is coming back. Instead of white enslaving the black. The rich will be enslaving the poor.

"Polish my shoes and I will throw you some crumbs...."

 

[Dad2three]

The extremists don't understand why people want to have a say in who gets the money they earn.

What amazes me is that leftists actually resent conservatives and think we're mean because we insist on debating the question of whether or not it's okay to confiscate people's money AT ALL, rather than simply conceding that point and moving on to debating how much should be taken.

You lost the debate decades ago Bubba, now it's ONLY about the amount of taxes you little crybaby bitch!


Invariably, when people go off the rails, they become more conservative. No one loses their mind and becomes more liberal. Conservatism is where people go when one capacity or another begins to fail them. It's the consequence of failure, and it's usually accompanied by more of the same.



then reasoning and logic start to go, a person tends to start agreeing with Glenn Beck and Rush Limbaugh



"Servants, labourers and workmen of different kinds, make up the far greater part of every great political society. But what improves the circumstances of the greater part can never be regarded as an inconvenience to the whole. No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable. It is but equity, besides, that they who feed, clothe and lodge the whole body of the people, should have such a share of the produce of their own labour as to be themselves tolerably well fed, cloathed and lodged." - Adam Smith, The Wealth of Nations

 

[Dad2three]

Conservatives/GOP ALWAYS trying to keep the AmeriKa THEY love to be an aristocracy over a merit based society. Weird

Starting on 3rd base to them means everyone's is equal, lol

I see you continue to ignore all the "little people" who are adversely affected by this. It's the middle class people this hurts. I guess you are out of touch and don't realize how many farmers and small businesses are hanging on by a thread and any chance the children have of making a go of it after the parents die has been made difficult, if not impossible, by undue taxes that place a heavy burden on struggling businesses.

Got it, you'll stick with right wing memes versus truth. NO TAX UNDER ALMOST $11 MILLION PER FAMILY TO BEGIN WITH BUBS


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

If it wasn't for memes, the only thing in your head would be the empty, whistling noise of wind blowing through.

Got it, your head is so far up Faux and hate talk radio you forget where SS check and Medicare comes from, and what the US looked like under the first Gilded Age conservatives are trying to take US back to!

 

[Dad2three]

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.

And if that stock is subsequently sold, what then?

Cap gains taxes on the GAIN is paid. Among the lowest in modern times!

Remind me. Why is it that that makes you entitled to other people's money?

You mean money captured BECAUSE of the US society, laws and our infrastructure?

All Property, indeed, except the Savage's temporary Cabin, his Bow, his Matchcoat, and other little Acquisitions, absolutely necessary for his Subsistence, seems to me to be the Creature of public Convention. Hence the Public has the Right of Regulating Descents, and all other Conveyances of Property, and even of limiting the Quantity and the Uses of it. All the Property that is necessary to a Man, for the Conservation of the Individual and the Propagation of the Species, is his natural Right, which none can justly deprive him of: But all Property superfluous to such purposes is the Property of the Publick, who, by their Laws, have created it, and who may therefore by other Laws dispose of it, whenever the Welfare of the Publick shall demand such Disposition. He that does not like civil Society on these Terms, let him retire and live among Savages. He can have no right to the benefits of Society, who will not pay his Club towards the Support of it. Ben Franklin

 

[HenryBHough]

Got it, your head is so far up Faux and hate talk radio you forget where SS check and Medicare comes from, and what the US looked like under the first Gilded Age conservatives are trying to take US back to!

God it's funny when they speak only in slogans!

 

[Dad2three]

It's nothing new that for sure.

And no reason to keep it other than mindless, bigoted partisanship.

The reasons Teddy was for it still stand today, even though you seem to have removed his quote.

You can quote whoever you want -- it remains because of mindless, bigoted partisanship.
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

The estate tax now is levied solely on fortunes over $10.9 million for a couple or $5.4 million for an individual. It’s a graduated tax, with the average effective rate of 16 percent.


Adam Smith, Thomas Jefferson, and other fellow travelers


If there was one thing the Revolutionary generation agreed on — and those guys who dress up like them at Tea Party conventions most definitely do not — it was the incompatibility of democracy and inherited wealth.

Well, if there's anyone who has a direct line to the brains of our Founding Fathers, it's some obscure blogger on the Internet.

Your inability to refute their words is noted douche-bag

 

[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.

Maybe we just don't care because we don't think right and wrong are defined by whether or not it directly affects us.

More libertarian BS. Shocking