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"it's not you're money you're dead" :roll: I feel like snapping his little pencil neck "
http://www.youtube.com/watch?v=9MXGo8EsBT0
Spine eh? How's that faux goldline outrage investigation going again?That isn't a spine. That's a stick up his ass. The guy's yet another community activist gone 'pro'. Worked previously for Mediamatters.Anthony Wiener is one of the few Democrats with a spine.
Happily, anarchists and commies seem to hate his "simple" notion that...yes Virginia..taxes are what citizens pay to have a civil society.
Naw..it's a spine. That's what a person looks like when they don't capitulate every time they get opposition.
The citizen thieves who live in his district who want a front man to take from their neighbors and give to them. That's who. They don't have the balls to rob their neighbors themselves, so they hire... elect someone to do it for them in a nice neat bureaucratic and legal manner. Just as long as they get their share or they'll find someone else who will take the profits and labor from someone who 'doesn't deserve it as much as they do'."it's not you're money you're dead" :roll: I feel like snapping his little pencil neck "
My sentiments exactly.
Why would anyone vote for that pathetic gweeb?
Most businesses are incorporated and have perpetual life.
Based on your post, I do believe you're talking out of your ass.
And if you knew anything about corporations, especially closely held S corps, you'd know that the stock held by a business owner is part of the value of his estate.
Yeah, it's an asset like any other. If the estate is worth $5M, I find it highly unlikely that more than 65% of that amount is in stocks in a closely held company. If one is concerned about that, he can start broadcasting his stock during his life.
Most businesses are incorporated and have perpetual life.
Based on your post, I do believe you're talking out of your ass.
And if you knew anything about corporations, especially closely held S corps, you'd know that the stock held by a business owner is part of the value of his estate.
Yeah, it's an asset like any other. If the estate is worth $5M, I find it highly unlikely that more than 65% of that amount is in stocks in a closely held company. If one is concerned about that, he can start broadcasting his stock during his life.
"it's not you're money you're dead" :roll: I feel like snapping his little pencil neck "
http://www.youtube.com/watch?v=9MXGo8EsBT0
Where do dead people spend their money?
Doesn't matter. That money is theirs to do with what they will. It has already been taxed enough.
You do realize that the death tax is one of the biggest killer of small businesses don't you? A person whose business might be worth millions does not necessarily produce enough income to offset the death tax. For example a dairy business where there is a lot of land value but relatively little income in comparison. People would not be able to leave this business in the family because the fucking government wants to take 55% of the value.
So the message from the government is, "Don't expect to be able to pass your business on to your progeny because we're going to steal it out from under you"
Oh please. By time someone with all that money dies, they have already given it to family. If they haven't, it's because there is no one in their family they want to give it to.
Does everything have to be explained?
And if you knew anything about corporations, especially closely held S corps, you'd know that the stock held by a business owner is part of the value of his estate.
Yeah, it's an asset like any other. If the estate is worth $5M, I find it highly unlikely that more than 65% of that amount is in stocks in a closely held company. If one is concerned about that, he can start broadcasting his stock during his life.
you can also gift the company over multiple years to avoid estate taxes, but that is only if the value of the business is over $5M.
most people who have large estates know this, and they hire attorneys to limit their estate tax liability. otherwise how would people who are billionaires pass on their estates without losing the majority of it.
again the reason there is an estate tax is because it is new income to the recipient. just like winning the lottery would be. if there is nothing in place to protect those assets.
Yeah, it's an asset like any other. If the estate is worth $5M, I find it highly unlikely that more than 65% of that amount is in stocks in a closely held company. If one is concerned about that, he can start broadcasting his stock during his life.
you can also gift the company over multiple years to avoid estate taxes, but that is only if the value of the business is over $5M.
most people who have large estates know this, and they hire attorneys to limit their estate tax liability. otherwise how would people who are billionaires pass on their estates without losing the majority of it.
again the reason there is an estate tax is because it is new income to the recipient. just like winning the lottery would be. if there is nothing in place to protect those assets.
When the maximum gift allowed by the IRS is 26K if you have a few million to gift you better have started 50 years ago.
And again, especially with a business, why would you give it away while you were alive? You might as well have not started a business in the first place if the only way to stop the fucking government from stealing it from your heirs is to never realize any income from it.
Wrong Jilly-Baby...He's a Gubmint Elitist parasite that thinks Gubmint has a claim to dead people's property and the Family doesn't...even after the Estate has paid it's fucking taxes LONG AGO.
It's a power grab that flies in the face of the Declaration of the people regarding LIFE, LIBERTY, and the persuit of HAPPINESS...meaning property aquired by the estate.
But then idiots as YOU think that all property belongs rightfully to the STATE.
Now piss off. I have adults to speak with...and YOU don't make the cut at this juncture.
What, is your "big brother" over? Ya guys watching some foot-ball, hmmm?
Go tend to your gerbils.
I have adults to speak with. Not children as you.
I never understood the legitamcy of a death tax.
The tax has been paid on the money and property. So why is it being taxed yet again?
I had a freind of a freind that ended up with nothing. His dad owned a large farm with a number of buildings on it, and died suddenly w/o insurance or a will. His kids ended up haveing to sell everything b/c they didn't have money for the taxes.
Just seems cruel. After you bury your loved one, you have to dig money up to pay the tax man.
If there was one thing the Revolutionary generation agreed on and those guys who dress up like them at Tea Party conventions most definitely do not it was the incompatibility of democracy and inherited wealth.
With Thomas Jefferson taking the lead in the Virginia legislature in 1777, every Revolutionary state government abolished the laws of primogeniture and entail that had served to perpetuate the concentration of inherited property. Jefferson cited Adam Smith, the hero of free market capitalists everywhere, as the source of his conviction that (as Smith wrote, and Jefferson closely echoed in his own words), "A power to dispose of estates for ever is manifestly absurd. The earth and the fulness of it belongs to every generation, and the preceding one can have no right to bind it up from posterity. Such extension of property is quite unnatural." Smith said: "There is no point more difficult to account for than the right we conceive men to have to dispose of their goods after death.
its not being taxed a 2nd time, since the money is new money for the new owner.
now i agree there are instances like the one you just described that are unfair to some families. But i also have to say that it is the responsibility of the business owner to plan ahead if he wanted to pass the business on to his/her family. many times the children do not want to take over the business, or the business owner does not want to pass it on. (look at warren buffet for example, most of this estates is being donated to charity upon his death, it is not being given to his children)
FORTUNE Magazine: Warren Buffett gives away his fortune - Jun. 25, 2006
understand that one of the purposes of the estate tax is make sure that people can not use their business as a tax shelter. i.e. putting all of their assets into the business and lowering the individuals estate value and thus tax liability.
but like anything, with proper planning, much of the estate tax can be avoided.
its not being taxed a 2nd time, since the money is new money for the new owner.
now i agree there are instances like the one you just described that are unfair to some families. But i also have to say that it is the responsibility of the business owner to plan ahead if he wanted to pass the business on to his/her family. many times the children do not want to take over the business, or the business owner does not want to pass it on. (look at warren buffet for example, most of this estates is being donated to charity upon his death, it is not being given to his children)
FORTUNE Magazine: Warren Buffett gives away his fortune - Jun. 25, 2006
understand that one of the purposes of the estate tax is make sure that people can not use their business as a tax shelter. i.e. putting all of their assets into the business and lowering the individuals estate value and thus tax liability.
but like anything, with proper planning, much of the estate tax can be avoided.
You're full of shit. The same money is being taxed twice. Period.
The ghouls don't have the nerve to steal the gold fillings from corpses themselves, so they schlepp the duty off onto some politicians and bureaucrats.The sad part about this discussion is this. No matter how badly the looters get their philosophical asses handed to them on the evil nature of their desire to take the estates of people from the next of kin it belongs to, they still won't care because it's not an ethical issue to them. It's an emotional one.
"I don't have it, and I don't like other people to have more than me so they should be punished. Of course if it's me, I deserve it, and I'll destroy you all if you try to take it from me!"
It's greed. Evil, base, greed and envy that rules their soul. Otherwise, they would not stand for it either. All that matters is how they feel, and in the end, that's the only thing that matters to them.
