How many people pay the estate tax in each state

[Winston]

Not many, if any, on this board will ever pay this tax.

That is ridiculous...it affects thousands of people every year and growing with all of the Boomers retiring...besides it's double taxation of the same dollar....it's not righteous but neither are the (I want what you have progs)...

No it is not "double taxation". The vast majority of inherited wealth is unrealized capital gains. Take the Microsoft shares Bill Gates donated to his foundation. 64 million shares worth 4.6 billion dollars. Had he died and left them to his children, tell me, when did he pay taxes on that 4.6 billion dollars?

 

[Winston]

Oh and salt deduction is not double taxation. Here is a hint, the dead do not pay taxes, so the offspring of the dead get like a tax free lottery ticket. So no, its not double taxation

The dollars were taxed when they were earned and that should be that...it's not your money you little self centered greedy thief...

Damn but the stupid is heavy here. Unrealized capital gains have NOT BEEN TAXED. The vast majority of inherited wealth is unrealized capital gains. Take this from Forbes,

That’s incredible. Say you die with a $100 million portfolio of highly appreciated stocks, with a cost basis of just $10 million. There would be no estate tax, and your heirs could sell the stock right after your death and owe no capital gains taxes on the $90 million gain.

Estate Tax Repeal, With Stepped-Up Basis, In House Tax Bill

Incredible alright, incredibly STUPID.

 

[Rambunctious]

Damn but the stupid is heavy here. Unrealized capital gains have NOT BEEN TAXED. The vast majority of inherited wealth is unrealized capital gains. Take this from Forbes

You are not entitled to the money...I don't care what you say it's not yours...you didn't earn it...you can't have it...

 

[Winston]

Damn but the stupid is heavy here. Unrealized capital gains have NOT BEEN TAXED. The vast majority of inherited wealth is unrealized capital gains. Take this from Forbes

You are not entitled to the money...I don't care what you say it's not yours...you didn't earn it...you can't have it...

Did I say I was entitled? Here is the deal dumbass, I pay taxes on every damn dollar I make. I expect the same from everyone else.

 

[Rambunctious]

Did I say I was entitled? Here is the deal dumbass, I pay taxes on every damn dollar I make. I expect the same from everyone else

So you pay taxes on every dollar you make? Do you pay taxes on that same dollar again when you give it to your son or daughter to go to college? Why shouldn't you? it's like your kids hit the lottery...what changes in death in your liberal mind? what makes it the governments money just because you die?
Dumbfuck!

 

[Political Junky]

Did I say I was entitled? Here is the deal dumbass, I pay taxes on every damn dollar I make. I expect the same from everyone else

So you pay taxes on every dollar you make? Do you pay taxes on that same dollar again when you give it to your son or daughter to go to college? Why shouldn't you? it's like your kids hit the lottery...what changes in death in your liberal mind? what makes it the governments money just because you die?
Dumbfuck!

Why are you so interested in giving more to the very rich, including reducing their taxes and raising yours.

 

[Rambunctious]

Why are you so interested in giving more to the very rich, including reducing their taxes and raising yours

Without the rich you would be scraping your meals from a soup kitchen trash can...where in the hell do you think economic growth comes from? welfare recipients? Look at the stock market crash...not the one Obama claims was the worst even but the big one in the 30's...it wiped out the upper class and there were soup kitchens for years...

 

[Winston]

Did I say I was entitled? Here is the deal dumbass, I pay taxes on every damn dollar I make. I expect the same from everyone else

So you pay taxes on every dollar you make? Do you pay taxes on that same dollar again when you give it to your son or daughter to go to college? Why shouldn't you? it's like your kids hit the lottery...what changes in death in your liberal mind? what makes it the governments money just because you die?
Dumbfuck!

Do you have a problem with reading comprehension? For the THIRD DAMN TIME, most inherited wealth is unrealized capital gains that HAS NOT BEEN TAXED.

However, the existing estate tax code also has a feature called “step up in basis at death” that reduces tax liabilities. When a person passes on an asset that increased in value since it was bought, that asset is not subject to the normal capital gains tax that would otherwise be paid if that asset were sold instead of bequeathed. Instead, “basis step-up” is applied and the asset is passed on at the market value at the time of death. When heirs eventually sell the inherited assets, they only pay capital gains tax on the difference between the value when inherited and the sale price. Thus, it is possible to avoid paying capital gains tax on asset appreciation during a person’s lifetime.

U.S. Capital Gains and Estate Taxation: A Status Report and Directions for a Reform

And has I have pointed out, the House version of the bill retains the step-up. It is unconscionable.

 

[Syriusly]

How many pay is not the point.

Exactly- it isn't about how many pay.

It is about eliminating a tax on millionaires.

 

[Syriusly]

Not many, if any, on this board will ever pay this tax.

How many people pay the estate tax in each state
Chart shows how many pay estate tax:
A key difference between the House and Senate tax bills that will have to be resolved this week is how they handle the estate tax, which is levied on a small number of multi-millionaires. The House repeals the tax after a few years, while the Senate raises the exemption.

Fun fact- the current tax reform would drive up the costs of education for graduate students- and drive many of them out of school- but the trade off is that millionaire families will save billions of dollars in taxes.

 

[Billy_Kinetta]

How many pay is not the point.

Exactly- it isn't about how many pay.

It is about eliminating a tax on millionaires.

No, it's about eliminating government theft.

 

[danielpalos]

End the drug war.