its not a death tax ..

Discussion in 'Politics' started by Siete, Oct 3, 2017.

  1. HappyJoy
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    HappyJoy Gold Member

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    You? You personally? Trust me, I'm not concerned with how you spend your mom and dad;s $20k savings account.
     
  2. easyt65
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    easyt65 Diamond Member

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    You make the money.
    - The government demands / takes their share.

    You buy the farm.
    - The government takes their 'pound of flesh' during the sale and every year you own it.

    You die and leave the money to a family member.
    - The government steps in and demands / takes a portion of the money that has already been taxed.

    You leave the farm to your son.
    - The govt steps in and demands to be paid a portion for the property that was already taxed initially and every year you owned it. This tax can be so high the son has to SELL the land the father worked his whole life to have and that has been in the family 'forever'

    WTF?!


    There is so much that defies common sense and 'fairness'.

    I own my own home. I want to remodel MY bathroom in MY house on MY property...but I can't do it because the government says I have to pay them for a 'PERMIT' to renovate MY bathroom in MY house on MY property.

    Again, WTF?!

    Yeah, I know - 'It is what it is'. Great explanation.
     
  3. HappyJoy
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    HappyJoy Gold Member

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    The estate tax usually accounts for a very small portion of the estate when it comes to family farms/businesses. Farms being sold to pay the estate tax is a myth.
     
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  4. jc456
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    jc456 Diamond Member Gold Supporting Member Supporting Member

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    at a 7% sales tax rate, the government gets $1,400. same as if I already had 20k and did exactly the same thing. that's fair.
     
  5. easyt65
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    easyt65 Diamond Member

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    The AMOUNT doesn't even rally matter (IMO) - it's the fact that the government is demanding more taxes be paid on the land / home / money that tax has already been paid on.
     
  6. HappyJoy
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    HappyJoy Gold Member

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    You inherit money and your first thought is how to spend it? Obviously, you're a financial genius.
     
  7. jc456
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    jc456 Diamond Member Gold Supporting Member Supporting Member

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    well yes, now I can afford a car. wow I'm going for it.
     
  8. Toddsterpatriot
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    Toddsterpatriot Platinum Member

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    "If they pass the bill they're talking about, I could leave $75 billion to a bunch of children and grandchildren and great-grandchildren. And if I left it to 35 of them, they'd each have a couple billion dollars," Buffett said. He then asked rhetorically, "Is that a great way to allocate resources in the United States?"

    Yes, letting the owners give it to their family (or friends or whatever), is better than giving it to idiot politicians to waste.
     
  9. HappyJoy
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    HappyJoy Gold Member

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    Bad investment.
     

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