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Old 11-02-2017, 06:06 PM   #16
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Originally Posted by AnOldTroll View Post
This administration sucks always and forever. Amen.
Got it.
One can hope it changes but so far it hasn't exactly lit the world on fire.

Although for that, perhaps, we should be grateful
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Old 11-02-2017, 06:17 PM   #17
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One can hope it changes but so far it hasn't exactly lit the world on fire.

Although for that, perhaps, we should be grateful
Well, at least my 401Ks are doing stellar.
Been a while.
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Old 11-02-2017, 06:25 PM   #18
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Well, at least my 401Ks are doing stellar.
Been a while.
You must have made some spectacularly poor choices the last five years.
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Old 11-02-2017, 06:50 PM   #19
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You must have made some spectacularly poor choices the last five years.
Older than you Anderson.
Haven't been aggressive for a while now.
Just comparing my gains.
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Old 11-02-2017, 07:22 PM   #20
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Abolishing estate tax is super sucky :(
Why? Didn't the estate owners pay taxes on said estate prior to death rich or poor?

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Old 11-02-2017, 07:56 PM   #21
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Why? Didn't the estate owners pay taxes on said estate prior to death rich or poor?

~Dee~
Sure. Can I gift you a million dollars I already paid taxes on without you paying taxes?
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Old 11-02-2017, 08:02 PM   #22
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Sure. Can I gift you a million dollars I already paid taxes on without you paying taxes?
Sure but if you gift it to me while your still alive then all bets are off.
Can I gift my children/ grandchildren that I'm ok because I saved and paid taxes instead of spending it...... hell yeah.

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Old 11-02-2017, 08:07 PM   #23
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Death doesn't seem to be relevant if your argument is double taxation.
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Old 11-03-2017, 11:26 AM   #24
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Death doesn't seem to be relevant if your argument is double taxation.
You were talking about gift tax. You the person pays the tax on the gift not the person receiving it. Now at some point depending on what it's use for the recipient may have to pay captital gains tax or property tax.

Now the estate which you've been paying taxes on while alive is taxed once again before, it's given to those who inherit it. Then those who inherit it pay an inheritance tax. So it's really triple tax not double.

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Old 11-03-2017, 11:31 AM   #25
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I know this is going to sound really reverse class-ist but, since there is a 5 million dollar exemption on estate taxes my sympathy level for the poor sots paying it is pretty minimal.

I guess that makes me a commie, oh well.
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Old 11-03-2017, 11:41 AM   #26
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I know this is going to sound really reverse class-ist but, since there is a 5 million dollar exemption on estate taxes my sympathy level for the poor sots paying it is pretty minimal.

I guess that makes me a commie, oh well.
This is a very large part of what destroyed family owned farms, ranches, and businesses in this country.

Not everyone with large estates are the Kennedy's. Many of them draw their sustenance from the land or property they own.

Well, to be fair...it is not nearly so many as there used to be...so the effect will be much reduced. Family farms and ranches are all but extinct compared to what there was 30 or 40 years ago....so if you look at it in a certain light, you could say that the patient is already terminally ill, anyway.
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Who is this self-important instigating douche-bag, anyway?
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Old 11-03-2017, 12:00 PM   #27
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If there is a family owned business that's worth more than 5 million dollars and has no debt (the 5 million is net worth, not gross), and the family cant afford to pay the tax on the EXCESS at 35-40% then I question the ability of the family to successfully manage the business. Let's say you have a $10 million dollar business with no debt, the tax would be $2 million. That's not chump change but to say you needed to sell the business over that requires a whole lot of "what ifs" to line up.

Farms are a different story because the value is in the land and the margins are so thin. I'd have no problem with an exemption from the estate calculation for real estate used as a farm.

I often hear right wingers bitching about "this or that" person wanting "free shit".

I never hear "why should certain kids get free shit because they won the birth lottery?"

Here's my idea of a fair society.

We provide a good education.

We provide a fair system of laws.

Everyone starts at the same line. If you make a lot of money because of skill, hard work, blind luck or some combo of the 3 you keep it, but there is a reset button every generation.
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Old 11-03-2017, 01:55 PM   #28
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If there is a family owned business that's worth more than 5 million dollars and has no debt (the 5 million is net worth, not gross), and the family cant afford to pay the tax on the EXCESS at 35-40% then I question the ability of the family to successfully manage the business. Let's say you have a $10 million dollar business with no debt, the tax would be $2 million. That's not chump change but to say you needed to sell the business over that requires a whole lot of "what ifs" to line up.

Farms are a different story because the value is in the land and the margins are so thin. I'd have no problem with an exemption from the estate calculation for real estate used as a farm.

I often hear right wingers bitching about "this or that" person wanting "free shit".

I never hear "why should certain kids get free shit because they won the birth lottery?"

Here's my idea of a fair society.

We provide a good education.

We provide a fair system of laws.

Everyone starts at the same line. If you make a lot of money because of skill, hard work, blind luck or some combo of the 3 you keep it, but there is a reset button every generation.
The property alone the business sits on could be well over 5 million depending on the location. How is it free shit if they work in the business

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Old 11-03-2017, 02:01 PM   #29
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I have worked in a lot of businesses in my career, worked really hard and was key to success.

No one ever gave one to me.
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Old 11-03-2017, 02:07 PM   #30
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I have worked in a lot of businesses in my career, worked really hard and was key to success.

No one ever gave one to me.
Were you their child?

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