The Birth Tax

[Anguille]

Thanks! You did not have to do that, but I admire you for doing so.

We have a son just your age. And if he thinks he is going to be wealthy after my hubby and I are gone .... boy is he in for a RUDE AWAKENING

I think that those of us in the younger generations should just be happy that our parents will get to enjoy their final years, a relatively new phenomenon when you consider how the elderly of previous generations mostly ended up destitute. It will off course be tougher for us in some ways because of the low birthrate, but in other ways we will be better off than even our parents due to medical breakthroughs and technology. As long as we get serious about protecting the environment I think we have a chance at working things out so that even future generations will be able to retire. Maybe at a later age, but we will be living longer as well.

 

[jreeves]

I think that those of us in the younger generations should just be happy that our parents will get to enjoy their final years, a relatively new phenomenon when you consider how the elderly of previous generations mostly ended up destitute. It will off course be tougher for us in some ways because of the low birthrate, but in other ways we will be better off than even our parents due to medical breakthroughs and technology. As long as we get serious about protecting the environment I think we have a chance at working things out so that even future generations will be able to retire. Maybe at a later age, but we will be living longer as well.

So we will live longer in poverty....great outlook.

 

[CA95380]

I think that those of us in the younger generations should just be happy that our parents will get to enjoy their final years, a relatively new phenomenon when you consider how the elderly of previous generations mostly ended up destitute. It will off course be tougher for us in some ways because of the low birthrate, but in other ways we will be better off than even our parents due to medical breakthroughs and technology. As long as we get serious about protecting the environment I think we have a chance at working things out so that even future generations will be able to retire. Maybe at a later age, but we will be living longer as well.

Thanks! At least we are not living with our kids ... yet ... and God forbid that Jreeves actually was one of our kids ... cause he woulda kicked us to the curb a long time ago to get his hands on our money ... I think.

Just kidding Jreeves .... when can we move in? Your place is sounding pretty dang good to me!

 

[jreeves]

Thanks! At least we are not living with our kids ... yet ... and God forbid that Jreeves actually was one of our kids ... cause he woulda kicked us to the curb a long time ago to get his hands on our money ... I think.

Just kidding Jreeves .... when can we move in? Your place is sounding pretty dang good to me!

Sorry the basement is already occupied my mother in law is so rich, she's living with my wife and I.....

 

[CA95380]

Sorry the basement is already occupied my mother in law is so rich, she's living with my wife and I.....

Now you are just and blowin !

Your creditability is NOW questionable!

 

[jreeves]

Now you are just and blowin !

Your creditability is NOW questionable!

Why is that, cause I take care of my family? I don't believe the government should tax us into oblivion...

 

[CA95380]

Why is that, cause I take care of my family? I don't believe the government should tax us into oblivion...

You should "take care of your family" because you want to. Not because ....

In other words you support taking someone's lifetime savings and imposing a 45% tax rate on their already taxed savings.

..... you are worried about the government getting a chuck of their money that they might leave you!

 

[Anguille]

Thanks! At least we are not living with our kids ... yet ... and God forbid that Jreeves actually was one of our kids ... cause he woulda kicked us to the curb a long time ago to get his hands on our money ... I think.

Just kidding Jreeves .... when can we move in? Your place is sounding pretty dang good to me!

LOL! You can come live with me if you promise to keep me laughing as hard as you do.

 

[CA95380]

LOL! You can come live with me if you promise to keep me laughing as hard as you do.

I hope you have kids? I like kids!

 

[jreeves]

You should "take care of your family" because you want to. Not because ....



..... you are worried about the government getting a chuck of their money that they might leave you!

Since I haven't received any large sums of money from my parents and my mother in law lives in my basement....I am not expecting a windfall of money at any point from inheritance....

I am worried that the government will take a huge chunk of my money that I will leave to my kids...

 

[CA95380]

Jreeves .... you are starting to bore me. Hush, before you embarrass yourself more.

You are beginning to

more than McCain and Obama.

 

[jreeves]

Jreeves .... you are starting to bore me. Hush, before you embarrass yourself more.

You are beginning to

more than McCain and Obama.

How so?

 

[CA95380]

How so?

Do I really have to go back through this thread -alone - to prove what I said

 

[jreeves]

Do I really have to go back through this thread -alone - to prove what I said

please do..

 

[Red Dawn]

Since I haven't received any large sums of money from my parents and my mother in law lives in my basement....I am not expecting a windfall of money at any point from inheritance....

I am worried that the government will take a huge chunk of my money that I will leave to my kids...

I don't think you should soil your underwear over this.

You were already proven wrong, than not "everybody" pays the inheritance tax. In fact, only an infintesimally small number of people do.

Secondly, I think they periodically bump up the tax exemption, so that middle class business owners don't get caught up getting screwed on the inheritance tax.

So, unless you think you're going to pass away with a net worth of many millions of dollars, I wouldn't worry about it. I know Rush Limbaugh likes to play you for the fool, and scare you. But calm down and get a hold of yourself.

 

[CA95380]

please do..


1. BTW that is what my parents left for me. I just don't want to see my children left in the same boat as me....

2. Sorry the basement is already occupied my mother in law is so rich, she's living with my wife and I.....

Your whole argument has been about YOUR MONEY ... when you freely admitted that the money you are SO WORRIED about has been inherited.

If the 2nd quote that I provided was a JOKE ... then shame on you!!! You should not be so resentful for having to care for your mother-in-law!!

Go back and read what you have said yourself ... for more proof.

 

[jreeves]

Your whole argument has been about YOUR MONEY ... when you freely admitted that the money you are SO WORRIED about has been inherited.

If the 2nd quote that I provided was a JOKE ... then shame on you!!! You should not be so resentful for having to care for your mother-in-law!!

Go back and read what you have said yourself ... for more proof.

I see now....my parents left me nothing. I am not resentful in having to care for my mother in law....where did you get that? I am sorry, I think you completely misread everything I have said....

 

[CA95380]

I see now....my parents left me nothing. I am not resentful in having to care for my mother in law....where did you get that? I am sorry, I think you completely misread everything I have said....

Whatever. I give up. I guess it is all me that is confussed about what you are saying. Go figure

One last thing ... when someone posts something and either makes it BOLD or highlighted ... it is usually because it has been said sarcastically or they simply are making a point to make sure it stands out, for some reason. I took .... my mother in law is so rich, she's living with my wife and I.....as a scartastic remark! So shoot me.

But, now I feel better. Since you have zero inherited money, quit worrying about it ... welcome to the club! As they say the only thing that are for sure in life is DEATH and TAXES! So get ready to pay those taxes on all of that 1-2 million $ that you will accumulate over your lifespan - and be sure you leave extra money for your kids ... so they do not have to pay inheritance tax on it, when you are dead.

 

[Care4all]

no frets jreeves, in 2009 the exemption from tax is 3.5 million/7 mil a couple

For anyone who dies in 2006 the tax applies only to estates over $2 million (or double that for couples who make routine legal arrangements.) The threshold is currently scheduled to increase to $3.5 million ($7 million for couples) in 2009.

 

[jreeves]

no frets jreeves, in 2009 the exemption from tax is 3.5 million/7 mil a couple

That would be great if I was retiring and dying in 2009....At least I hope I'm not dying in 2009...