Trump and his family could save more than $1 billion under House tax bill

[DrLove]

You are just incapable of making a reason decisioned, thus you are an idiot.

Have i called you an "idiot"?

Nope, I've respected your intellect. Up your game please because i actually respect you at this point.

 

[Markle]

Thanks (i guess) for not addressing my post. Sorry, but indeed our Congress could earmark all inheritance taxes to directly pay down the national debt.

But as long YOUR clowns are in charge, it ain't gonna happen. They'll use it in some manner to appease their overlords and fuck the middle class.

IF that were to happen, how long will it take to pay down our $20 TRILLION DEBT?

Here, allow me to help you. Do you think our debt might go up more than $17 BILLION per year? I'm not sure that will cover the interest. How much do you think came into the IRS from the Estate tax?



Estate Tax Returns Filed for Wealthy
Decedents, 2006–2015
Statistics of Income
www.irs.gov/taxstats |
Individual
Tax Statistics
The Federal estate tax is a tax on the transfer of property at death. It is applied to estates for which at-death
gross assets, the “grosI s estate,” exceed the filing threshold. Estate tax returns are due 9 months from the date of
death. Most estate tax returns are filed during the Calendar year after the year of the decedent’s death. The filing
threshold for 2015 was $5.34 million. Charitable bequests and marital transfers can be taken as deductions when
calculating estate tax liability.
Highlights of the Data
●● The number of estate tax returns declined nearly 76
percent from 49,050 in 2006 to 11,917 in 2015 primarily
due to the gradual increase in the filing threshold.
●● The gross estate filing threshold was $5.43 million in
2015, up from $2.0 million in 2006.
●● In 2015, the total net estate tax reported on all estate
tax returns filed during the year was nearly $17.1 billion.
●● California had the highest number of estate tax
returns filed in 2015, followed by Florida, New York,
Texas, and Illinois.
●● Looking at the number of estate tax returns filed
during 2015 as a percentage of the adult population
(ages 18 and over), the top five States were
South Dakota, the District of Columbia, Florida,
Connecticut, and North Dakota.
●● Stock and real estate made up over half of all estate
tax decedents’ asset holdings for 2015.
●● Estate tax decedents with total assets of $20 million
or more held a greater share of their portfolio in
stocks (over 38 percent) and lesser shares in real
estate and retirement assets than decedents in other
total asset categories, for returns filed during 2015.

SOI Tax Stats Estate Gift and Trust Statistics | Internal Revenue Service

You just have no clue, do you?

 

[JimH52]

Wait! The Comrade said he was gonna get slammed by the tax overhaul!

I see! That was probably one of the five lies he tells daily. That explains it.

 

[Markle]

I thought Trump admitted that because of paper losses he showed he hasn't paid any federal income tax in years?

Trump didn't admit that actually - we don't know because he refuses to release his taxes other than a two page summary from 2005 (which HE leaked because that particular year made him look halfway decent).

But it is estimated that he may have gone as many as 14 years without paying a dime.

Please show your proof. Or, once again, are you lying?

 

[Markle]

Obama was racking up interest on Junior's 2 trillion dollar blunder in the middle east, Medicare D, and other things most of which were unfunded. Take that out, and his spending was on par with GWB's. Plus, he reduced Dubya's fiscal deficit by over 60%.

Wow, you're way off on a wild trip, aren't you?

Since 2001, the War on Terror has cost $1.7 TRILLION.

As for the deficit. That's a paper figure meaning nothing and, as you know, petulant former President Barack Hussein Obama's deficit was even higher than the 2009 budget signed by President Obama.

 

[Markle]

Sorry, but the uber-wealthy should pay a far greater percentage in taxes than the family of 4 bringing in 100k

They do.

But I'm sure you agree that EVERYONE should share in supporting this great nation.

 

[Markle]

Why do you think it is up to you what someone else NEEDS?

The taxes have already been paid on that money, why do you think the money earned by that family is suddenly yours because someone dies?

Your a Howdy Gowdy Guy (based on sig) - Which immediately disqualifies you from opining about ANYTHING

 

[DrLove]

Sorry, but the uber-wealthy should pay a far greater percentage in taxes than the family of 4 bringing in 100k

They do.

But I'm sure you agree that EVERYONE should share in supporting this great nation.

Not enough they don't. Look, if you're a Fortune 500 CEO making 150 mil a year, you can damn well afford to give up 35% of that --- NO LOOPHOLES.

If you're a single Mom with 2-3 kids and a deadbeat ex making 25k you shouldn't have to pay a dime. Despite popular RW opinion, that Mom DOES pay taxes on the goods and services required by her and those kids for their survival.

 

[DrLove]

Wow, you're way off on a wild trip, aren't you?

Since 2001, the War on Terror has cost $1.7 TRILLION.

As for the deficit. That's a paper figure meaning nothing and, as you know, petulant former President Barack Hussein Obama's deficit was even higher than the 2009 budget signed by President Obama.

Spare me the alternative facts

 

[DrLove]

I thought Trump admitted that because of paper losses he showed he hasn't paid any federal income tax in years?

Trump didn't admit that actually - we don't know because he refuses to release his taxes other than a two page summary from 2005 (which HE leaked because that particular year made him look halfway decent).

But it is estimated that he may have gone as many as 14 years without paying a dime.

Please show your proof. Or, once again, are you lying?

Trump May Not Have Owed Income Tax for Years