Barney Frank and Inheritance Tax: Hypocricy On Display

[Common Sense]

It's important to note that Buffet has significant investments in Life Insurance Companies.

The Life Insurance Lobby is one of the strongest supporters of the Estate Tax. One way to get around the Estate Tax is to buy very expensive life insurance coverage.

Bill Gates jr and sr. also support the estate tax, are you gonna tell me that they have a vested interest in life insurance too?
USATODAY.com - Gates Sr. supports estate tax
Bill Gates Fighting Microsoft, Ballmer, Allen And Other Billionaires On Tax - Steven Bertoni - Money Talks - Forbes

Until you people look at the loopholes for Gate's and Buffet's estates, I certainly wouldn't be using them as stellar examples to prove your points. The relatives will be well taken care of through the Trusts. Not much will be able to be taxed, because of the charities within the Trusts.
I have to laugh at some of you for even bringing these fine examples of capitalism to the forefront.

actually your an idiot. Most of Buffetts and Gates estates are actually being donated to charity. Buffets business will be taken over by his children. but they will only be assuming leadership, since the majority of Buffetts wealth is in his shares of Berkshire Hathaway, it will be transfered to the Bill and Melinda Gates foundation over the next few years in the form of stock. Which will then be sold on the open market and the proceeds will benefit the charity.

Buffett wants his children to earn their own money like he did, not get it free. nice try with him simply giving his money to his heirs tax free.

 

[Meister]

Bill Gates jr and sr. also support the estate tax, are you gonna tell me that they have a vested interest in life insurance too?
USATODAY.com - Gates Sr. supports estate tax
Bill Gates Fighting Microsoft, Ballmer, Allen And Other Billionaires On Tax - Steven Bertoni - Money Talks - Forbes

Until you people look at the loopholes for Gate's and Buffet's estates, I certainly wouldn't be using them as stellar examples to prove your points. The relatives will be well taken care of through the Trusts. Not much will be able to be taxed, because of the charities within the Trusts.
I have to laugh at some of you for even bringing these fine examples of capitalism to the forefront.

actually your an idiot. Most of Buffetts and Gates estates are actually being donated to charity. Buffets business will be taken over by his children. but they will only be assuming leadership, since the majority of Buffetts wealth is in his shares of Berkshire Hathaway, it will be transfered to the Bill and Melinda Gates foundation over the next few years in the form of stock. Which will then be sold on the open market and the proceeds will benefit the charity.

Buffett wants his children to earn their own money like he did, not get it free. nice try with him simply giving his money to his heirs tax free.

You have to look a little closer than that. No, I'm not an idiot....the keyword is charities, and who are on the boards of those charities. But, keep trying....

 

[mudwhistle]

Yep all income should be taxed exactly the same no matter how you got it.

Even if it's already been taxed once? Tell me, do you pay taxes at the grocery store on the food you buy and then pay taxes again when you eat it?

How many bites of the apple does the gubmint get?

The answer is....NO. You don't pay again for it when you eat it.

But I'm sure if they could figure out a way they would try to tax what we put in our mouths when we put it in our mouths and then again when it comes out of our asses.

 

[mudwhistle]

Bill Gates jr and sr. also support the estate tax, are you gonna tell me that they have a vested interest in life insurance too?
USATODAY.com - Gates Sr. supports estate tax
Bill Gates Fighting Microsoft, Ballmer, Allen And Other Billionaires On Tax - Steven Bertoni - Money Talks - Forbes

Until you people look at the loopholes for Gate's and Buffet's estates, I certainly wouldn't be using them as stellar examples to prove your points. The relatives will be well taken care of through the Trusts. Not much will be able to be taxed, because of the charities within the Trusts.
I have to laugh at some of you for even bringing these fine examples of capitalism to the forefront.

actually your an idiot. Most of Buffetts and Gates estates are actually being donated to charity. Buffets business will be taken over by his children. but they will only be assuming leadership, since the majority of Buffetts wealth is in his shares of Berkshire Hathaway, it will be transfered to the Bill and Melinda Gates foundation over the next few years in the form of stock. Which will then be sold on the open market and the proceeds will benefit the charity.

Buffett wants his children to earn their own money like he did, not get it free. nice try with him simply giving his money to his heirs tax free.

Not everyone is as rich or as selfish towards his kids as Bill Gates is.

 

[Intense]

Yep all income should be taxed exactly the same no matter how you got it.

Even if it's already been taxed once? Tell me, do you pay taxes at the grocery store on the food you buy and then pay taxes again when you eat it?

How many bites of the apple does the gubmint get?

you do pay income tax on your paycheck and the sales tax on consumable goods? what isnt that double taxation? damn did i just through a wrench in your argument about the same money being taxed twice?

and food is actually not taxable.

No Silly. First you need to distinguish between Federal, State, and Local taxes. You are right, though we are multi taxed. That's a great point. What do you propose? Repealing the Income Tax. Great idea! Let's just go with a single usage tax and drop everything else. You sure are smart. Hey! That's my wrench! Where did you get it?

Let's tax Sick People! Let's tax the Rich! Let's tax the Poor! Let's tax people for not being sick! Let's tax the air! Let's tax hair! Let's tax people when they fart! Let's tax People for not being smart!

Is six weeks vacation enough for Federal Workers? Is a 32 hour work week too much? Let's raise Pensions some more!

How about we turn that in to a 1 week vacation, and a 50 hour salaried work week, and pensions based on base pay, not overtime, and just call it penance or community service, rather than a prison sentence for theft.

[ame]http://www.youtube.com/watch?v=Maz9ddxEQnM[/ame]

 

[Common Sense]

actually i am totally in favor of a flat tax on everyone at the same exact rate. I'll even go farether and say everyone should be taxes somewhere between 15 and 20%. this will solve 2 problems. 1 - the government show then have a good idea of how much tax revenue will be coming in each year. 2 - it is fair, that everyone pays the same exact percentage of their income. no more deductions or write-offs, everyone just pays the same flat rate. this rate can then be split amongst the states and the fed.

 

[mudwhistle]

actually i am totally in favor of a flat tax on everyone at the same exact rate. I'll even go farether and say everyone should be taxes somewhere between 15 and 20%. this will solve 2 problems. 1 - the government show then have a good idea of how much tax revenue will be coming in each year. 2 - it is fair, that everyone pays the same exact percentage of their income. no more deductions or write-offs, everyone just pays the same flat rate. this rate can then be split amongst the states and the fed.

Nobody will go for that. Congress will exempt themselves from it. It will just become a sham. A hollow meaningless tax. The same people will get fucked again.....the Middle-class.

 

[Cuyo]

Yep all income should be taxed exactly the same no matter how you got it.

Even if it's already been taxed once? Tell me, do you pay taxes at the grocery store on the food you buy and then pay taxes again when you eat it?

How many bites of the apple does the gubmint get?

When you buy groceries with your paycheck, that money has been taxed. When the grocery store profits from your purchase, they get taxed. When the grocer buys new furniture with his taxed earnings, the furniture store gets taxed on their profits.

So yes, money gets taxed, generally, every time it changes hands. I don't know why that's so difficult to grasp.

 

[Lonestar_logic]

It's funny all those on here that don't have a problem with the "estate tax" don't have a dog in the fight. I'd wager most are on the govt. dole in some fashion.

As for me I have worked for many years for the wealth I've aquired and my children should reap all the benefits, after all they're the reason I worked my ass off all these years. And for this they should be made to pay taxes on money that has already been taxed?

It's time we get every single liberal puke out of Washington and make government, the government our forefathers invisioned, which is to insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and future generations.

 

[Lonestar_logic]

It's about the Principle, not the Principal, Sparky. Warren Buffet really thanks you for the scheme you just implemented to make him richer, him and his Insurance Companies. Get a clue.

It's important to note that Buffet has significant investments in Life Insurance Companies.

The Life Insurance Lobby is one of the strongest supporters of the Estate Tax. One way to get around the Estate Tax is to buy very expensive life insurance coverage.

Bill Gates jr and sr. also support the estate tax, are you gonna tell me that they have a vested interest in life insurance too?
USATODAY.com - Gates Sr. supports estate tax
Bill Gates Fighting Microsoft, Ballmer, Allen And Other Billionaires On Tax - Steven Bertoni - Money Talks - Forbes

You point to two of the worlds richest men and try to compare them to those that own family farms and businesses that will be forced to sell of their inheritance(sp) just to pay for the taxes. Not a good comparision on your part. But it's to be expected from a liberal fuck.

 

[Cuyo]

It's funny all those on here that don't have a problem with the "estate tax" don't have a dog in the fight. I'd wager most are on the govt. dole in some fashion.

As for me I have worked for many years for the wealth I've aquired and my children should reap all the benefits, after all they're the reason I worked my ass off all these years. And for this they should be made to pay taxes on money that has already been taxed?

It's time we get every single liberal puke out of Washington and make government, the government our forefathers invisioned, which is to insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and future generations.

You aren't going to be subject to an estate tax. And if you were, I'd question your values in the claim that your little angels need more than $5 million + 65% of the wealth in excess of that. How are they ever going to learn the value of hard work just like you did?

 

[Lonestar_logic]

Yep all income should be taxed exactly the same no matter how you got it.

Even if it's already been taxed once? Tell me, do you pay taxes at the grocery store on the food you buy and then pay taxes again when you eat it?

How many bites of the apple does the gubmint get?

When you buy groceries with your paycheck, that money has been taxed. When the grocery store profits from your purchase, they get taxed. When the grocer buys new furniture with his taxed earnings, the furniture store gets taxed on their profits.

So yes, money gets taxed, generally, every time it changes hands. I don't know why that's so difficult to grasp.

Damn you're stupid.

 

[Cuyo]

Even if it's already been taxed once? Tell me, do you pay taxes at the grocery store on the food you buy and then pay taxes again when you eat it?

How many bites of the apple does the gubmint get?

When you buy groceries with your paycheck, that money has been taxed. When the grocery store profits from your purchase, they get taxed. When the grocer buys new furniture with his taxed earnings, the furniture store gets taxed on their profits.

So yes, money gets taxed, generally, every time it changes hands. I don't know why that's so difficult to grasp.

Damn you're stupid.

Translated: "Fuck he's right... What do I do... Ok let's just call him stupid."

 

[Big Fitz]

Oh boo hoo hoo!

I'll only get to start out with a sum only equivalant to 100 years the median average PRETAXED incomes of the American family.

That's not fair! wah! wah wah!

What right does the government have to something it had already taxed and taken their (incorrect) 'fair share'? You're right. It is NOT fair to double tax.

 

[Lonestar_logic]

It's funny all those on here that don't have a problem with the "estate tax" don't have a dog in the fight. I'd wager most are on the govt. dole in some fashion.

As for me I have worked for many years for the wealth I've aquired and my children should reap all the benefits, after all they're the reason I worked my ass off all these years. And for this they should be made to pay taxes on money that has already been taxed?

It's time we get every single liberal puke out of Washington and make government, the government our forefathers invisioned, which is to insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and future generations.

You aren't going to be subject to an estate tax. And if you were, I'd question your values in the claim that your little angels need more than $5 million + 65% of the wealth in excess of that. How are they ever going to learn the value of hard work just like you did?

I'm not? Can I get a written guarantee on that?

The values my children do or do not learn is of no concern to you. Oh and you're not me.

 

[Lonestar_logic]

When you buy groceries with your paycheck, that money has been taxed. When the grocery store profits from your purchase, they get taxed. When the grocer buys new furniture with his taxed earnings, the furniture store gets taxed on their profits.

So yes, money gets taxed, generally, every time it changes hands. I don't know why that's so difficult to grasp.

Damn you're stupid.

Translated: "Fuck he's right... What do I do... Ok let's just call him stupid."

No you're not right, you say every time money changes hands it gets taxed, but you fail to recognize that money earned and that has been taxed will be taxed a second time upon death per the estate tax. Your comparing money that has been earned, taxed, spent thus being earned by another party, taxed and spent again etc etc... not the same as the estate tax at all.

You fail!

 

[Granny]

Shouldn't Barney Frank be wrapping his mouth around something else?


















Other People's money should not be his concern - look what his Pet Housing Project for the Poor and Downtrodden has resulted in for everybody.

 

[Cuyo]

Damn you're stupid.

Translated: "Fuck he's right... What do I do... Ok let's just call him stupid."

No you're not right, you say every time money changes hands it gets taxed, but you fail to recognize that money earned and that has been taxed will be taxed a second time upon death per the estate tax. Your comparing money that has been earned, taxed, spent thus being earned by another party, taxed and spent again etc etc... not the same as the estate tax at all.

You fail!

And THAT is the debate being had. The 35% on amounts over $5M is the compromise, and frankly, it's a compromise that's slanted incredibly far to the right. But it just ain't good enough is it? No no, we need *NO* estate tax at all.

Tough shit. We live in a society where everyone gets a voice, and this is the current policy. Chances are it will move more to the middle over time.

And stop worrying about it... Nobody believes you're worth $5M so give it up, man!

 

[Cuyo]

It's funny all those on here that don't have a problem with the "estate tax" don't have a dog in the fight. I'd wager most are on the govt. dole in some fashion.

As for me I have worked for many years for the wealth I've aquired and my children should reap all the benefits, after all they're the reason I worked my ass off all these years. And for this they should be made to pay taxes on money that has already been taxed?

It's time we get every single liberal puke out of Washington and make government, the government our forefathers invisioned, which is to insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and future generations.

You aren't going to be subject to an estate tax. And if you were, I'd question your values in the claim that your little angels need more than $5 million + 65% of the wealth in excess of that. How are they ever going to learn the value of hard work just like you did?

I'm not? Can I get a written guarantee on that?

The values my children do or do not learn is of no concern to you. Oh and you're not me.

Tell ya what; PM me. When you die, if there's an estate tax, have your kids send me the bill and I'll take care of it.

 

[editec]

It's funny all those on here that don't have a problem with the "estate tax" don't have a dog in the fight. I'd wager most are on the govt. dole in some fashion.

As for me I have worked for many years for the wealth I've aquired and my children should reap all the benefits, after all they're the reason I worked my ass off all these years. And for this they should be made to pay taxes on money that has already been taxed?

It's time we get every single liberal puke out of Washington and make government, the government our forefathers invisioned, which is to insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and future generations.

Your kids won't lose a cent to inheritance taxes, I'll wager.

And if your kids cannot make it with 100 years worth of the PRETEXED median salaries of their fellow Americans families combined, then honestly...are they even suited to having that much money to begin with?

If a scion cannot make it with $5 million TAX FREE dollars, then honestly what good does it do them (but more importantly the rest of us) to have still more money?