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That's fine. That is absolutely your God-given right. But that's just it - it's a choice. You should have the right to choose to not leave anything, I should have the right to choose to leave as much as possible.I'm spending my children's inheritance before I die. Nobody ever left me an inheritance so I feel that I do not owe an inheritance.
Even more evidence of your misinformation...The "death tax " only kicks in after you hit 10 million . 10 million!!! And you know what , price don't care cause he's dead.
"This year, the exemption is $5.43 million for a single person"
House passes bill to repeal death tax | Fox News
In your infinite smug liberal ideology - do you have any idea what that means? I'm being serious. Do you realize the consequences of this?Even more evidence of your misinformation...The "death tax " only kicks in after you hit 10 million . 10 million!!! And you know what , price don't care cause he's dead.
"This year, the exemption is $5.43 million for a single person"
House passes bill to repeal death tax | Fox News
Oh I forgot . The crown jewel of the GOP lead congress was lowering the amount to ONLY $5 mill!! Lol , I stand corrected !!!
His assets are:
They should be. Are they? How could I possibly answer that? I don't know what assets that indvidual has nor am I an authority on the death tax code.
In your infinite smug liberal ideology - do you have any idea what that means? I'm being serious. Do you realize the consequences of this?Even more evidence of your misinformation...The "death tax " only kicks in after you hit 10 million . 10 million!!! And you know what , price don't care cause he's dead.
"This year, the exemption is $5.43 million for a single person"
House passes bill to repeal death tax | Fox News
Oh I forgot . The crown jewel of the GOP lead congress was lowering the amount to ONLY $5 mill!! Lol , I stand corrected !!!
In your infinite smug liberal ideology - do you have any idea what that means? I'm being serious. Do you realize the consequences of this?Even more evidence of your misinformation...The "death tax " only kicks in after you hit 10 million . 10 million!!! And you know what , price don't care cause he's dead.
"This year, the exemption is $5.43 million for a single person"
House passes bill to repeal death tax | Fox News
Oh I forgot . The crown jewel of the GOP lead congress was lowering the amount to ONLY $5 mill!! Lol , I stand corrected !!!
Yes . Heavy taxes on a windfall . Oh the horror !
How come no one ever defends lottery winners ? The only people who actually pay the top tax rates !
In your infinite smug liberal ideology - do you have any idea what that means? I'm being serious. Do you realize the consequences of this?Even more evidence of your misinformation...The "death tax " only kicks in after you hit 10 million . 10 million!!! And you know what , price don't care cause he's dead.
"This year, the exemption is $5.43 million for a single person"
House passes bill to repeal death tax | Fox News
Oh I forgot . The crown jewel of the GOP lead congress was lowering the amount to ONLY $5 mill!! Lol , I stand corrected !!!
Yes . Heavy taxes on a windfall . Oh the horror !
How come no one ever defends lottery winners ? The only people who actually pay the top tax rates !
No. This is vintage liberal cluelessness.
Do you have any idea how many small businesses have assets which exceeds $5 million by which are not "liquid"? A great example of this are ca r dealerships. The automobiles on the lots and the buildings will far exceed $5 million. But the child may not have $2.5 in cash to pay the Mafia extortionists in the federal government. So I should not be able to leave my children a business that I built for them?!? Why? Simply because you have nauseating envy and hate for people who have more than you do?
Absolutely disgusting. No excuse for this kind of consumption by government. None. Disgraceful...
"By this Saturday, April 24—114 days into the year—Americans will have finally earned the estimated $5 trillion to pay their federal, state, and local government’s tabs for 2016. That means Monday represents the first day of the year when Americans will be earning income for themselves rather than the government".
Tax Day Doesn't Have to Be So Frustrating
Honestly - no, they really don't. If you would stop hating what you perceive to be "rich" people and open your mind you would see that people lose their parents businesses because of this nonsense.In your infinite smug liberal ideology - do you have any idea what that means? I'm being serious. Do you realize the consequences of this?Even more evidence of your misinformation...
"This year, the exemption is $5.43 million for a single person"
House passes bill to repeal death tax | Fox News
Oh I forgot . The crown jewel of the GOP lead congress was lowering the amount to ONLY $5 mill!! Lol , I stand corrected !!!
Yes . Heavy taxes on a windfall . Oh the horror !
How come no one ever defends lottery winners ? The only people who actually pay the top tax rates !
No. This is vintage liberal cluelessness.
Do you have any idea how many small businesses have assets which exceeds $5 million by which are not "liquid"? A great example of this are ca r dealerships. The automobiles on the lots and the buildings will far exceed $5 million. But the child may not have $2.5 in cash to pay the Mafia extortionists in the federal government. So I should not be able to leave my children a business that I built for them?!? Why? Simply because you have nauseating envy and hate for people who have more than you do?
The tax code allows a dozen ways to protect that shit . Don't worry , the tax code is not designed to screw over the wealthy .
Why do you think it's so big? All those codes are to help the working class?!? Lol!
I don't know what assets that indvidual has nor am I an authority on the death tax code.
The automobiles on the lots and the buildings will far exceed $5 million
Uh.....what? I'm not following you hear? Can you clarify?Ok. Fair enough. But it's ridiculous that our federal government would cause people to purchase something unnecessary just to attempt to make up what the government is going to steal for a second time.I don't get the "logic" here. I have a million dollars in assets - 100% of which was already taxed by the government. Your position is its ok for the government to tax it a second time because I have the option for purchase life insurance?That is why you have life insurance.
You have no idea what health insurer is for. You're going to Google it real quick and pretend like you do - but that insane post proves you don't.
(Hint - it's for people who aren't independent wealthy to replace lost income so that they don't have to not only lose a loved one but also lose the lifestyle they had built and become accustomed to).
But either way, what does that have to do with the government taxing me a second time? If the government takes $600,000 of my million dollar estate, and I pay for an unnecessary policy I shouldn't even need for $600,000, I didn't make that income up. My beneificiaries should then have $1.6 million. Instead, they will still have $600,000 less no matter how you slice it.
I didn't say it was right or wrong. I was once a life insurance agent and that is a great selling point for people to buy life insurance to pay the IRS death tax.
We have a "double jeopardy" law to prevent people from being prosecuted over and over for the same crime. I think we need a "double jeopardy" law for taxes as well - to prevent people from being taxed over and over on the same income and assets.
You mean like health insurance?
Oh. Yeah...I agree with you on that.Uh.....what? I'm not following you hear? Can you clarify?Ok. Fair enough. But it's ridiculous that our federal government would cause people to purchase something unnecessary just to attempt to make up what the government is going to steal for a second time.I don't get the "logic" here. I have a million dollars in assets - 100% of which was already taxed by the government. Your position is its ok for the government to tax it a second time because I have the option for purchase life insurance?
You have no idea what health insurer is for. You're going to Google it real quick and pretend like you do - but that insane post proves you don't.
(Hint - it's for people who aren't independent wealthy to replace lost income so that they don't have to not only lose a loved one but also lose the lifestyle they had built and become accustomed to).
But either way, what does that have to do with the government taxing me a second time? If the government takes $600,000 of my million dollar estate, and I pay for an unnecessary policy I shouldn't even need for $600,000, I didn't make that income up. My beneificiaries should then have $1.6 million. Instead, they will still have $600,000 less no matter how you slice it.
I didn't say it was right or wrong. I was once a life insurance agent and that is a great selling point for people to buy life insurance to pay the IRS death tax.
We have a "double jeopardy" law to prevent people from being prosecuted over and over for the same crime. I think we need a "double jeopardy" law for taxes as well - to prevent people from being taxed over and over on the same income and assets.
You mean like health insurance?
Not following? Are you unaware that the federal government uses tax laws to punish people who do not purchase health insurance which some people consider unnecessary?
Honestly - no, they really don't. If you would stop hating what you perceive to be "rich" people and open your mind you would see that people lose their parents businesses because of this nonsense.In your infinite smug liberal ideology - do you have any idea what that means? I'm being serious. Do you realize the consequences of this?Oh I forgot . The crown jewel of the GOP lead congress was lowering the amount to ONLY $5 mill!! Lol , I stand corrected !!!
Yes . Heavy taxes on a windfall . Oh the horror !
How come no one ever defends lottery winners ? The only people who actually pay the top tax rates !
No. This is vintage liberal cluelessness.
Do you have any idea how many small businesses have assets which exceeds $5 million by which are not "liquid"? A great example of this are ca r dealerships. The automobiles on the lots and the buildings will far exceed $5 million. But the child may not have $2.5 in cash to pay the Mafia extortionists in the federal government. So I should not be able to leave my children a business that I built for them?!? Why? Simply because you have nauseating envy and hate for people who have more than you do?
The tax code allows a dozen ways to protect that shit . Don't worry , the tax code is not designed to screw over the wealthy .
Why do you think it's so big? All those codes are to help the working class?!? Lol!
When it comes to a business, $5 million in assets is nothing. You'd be hard pressed to find a small business that doesn't have at least that much (it would have to be a really small business out of someone's home or something). But having that much in a building, materials, products, etc. doesn't always mean that they have that type of liquidity as well. Some certainly would. But others that are not quite as successful do not. In America, a person should be able to leave their children a small business without the government taking it and selling it off so that they can tax everything a second time.
Uh.....what? I'm not following you hear? Can you clarify?Ok. Fair enough. But it's ridiculous that our federal government would cause people to purchase something unnecessary just to attempt to make up what the government is going to steal for a second time.I don't get the "logic" here. I have a million dollars in assets - 100% of which was already taxed by the government. Your position is its ok for the government to tax it a second time because I have the option for purchase life insurance?
You have no idea what health insurer is for. You're going to Google it real quick and pretend like you do - but that insane post proves you don't.
(Hint - it's for people who aren't independent wealthy to replace lost income so that they don't have to not only lose a loved one but also lose the lifestyle they had built and become accustomed to).
But either way, what does that have to do with the government taxing me a second time? If the government takes $600,000 of my million dollar estate, and I pay for an unnecessary policy I shouldn't even need for $600,000, I didn't make that income up. My beneificiaries should then have $1.6 million. Instead, they will still have $600,000 less no matter how you slice it.
I didn't say it was right or wrong. I was once a life insurance agent and that is a great selling point for people to buy life insurance to pay the IRS death tax.
We have a "double jeopardy" law to prevent people from being prosecuted over and over for the same crime. I think we need a "double jeopardy" law for taxes as well - to prevent people from being taxed over and over on the same income and assets.
You mean like health insurance?
Not following? Are you unaware that the federal government uses tax laws to punish people who do not purchase health insurance which some people consider unnecessary?
Ok - I completely agree with you on Prince and the will. However, that doesn't change the Death Tax. Will or no will, the Death Tax is still in affect. Are you under the impression that the Death Tax magically becomes null and void with a will? If you are, I can assure you that it doesn't. The only thing a will does is avoid forcing the assets to go through probate (where the government will in fact take even more).Honestly - no, they really don't. If you would stop hating what you perceive to be "rich" people and open your mind you would see that people lose their parents businesses because of this nonsense.In your infinite smug liberal ideology - do you have any idea what that means? I'm being serious. Do you realize the consequences of this?
Yes . Heavy taxes on a windfall . Oh the horror !
How come no one ever defends lottery winners ? The only people who actually pay the top tax rates !
No. This is vintage liberal cluelessness.
Do you have any idea how many small businesses have assets which exceeds $5 million by which are not "liquid"? A great example of this are ca r dealerships. The automobiles on the lots and the buildings will far exceed $5 million. But the child may not have $2.5 in cash to pay the Mafia extortionists in the federal government. So I should not be able to leave my children a business that I built for them?!? Why? Simply because you have nauseating envy and hate for people who have more than you do?
The tax code allows a dozen ways to protect that shit . Don't worry , the tax code is not designed to screw over the wealthy .
Why do you think it's so big? All those codes are to help the working class?!? Lol!
When it comes to a business, $5 million in assets is nothing. You'd be hard pressed to find a small business that doesn't have at least that much (it would have to be a really small business out of someone's home or something). But having that much in a building, materials, products, etc. doesn't always mean that they have that type of liquidity as well. Some certainly would. But others that are not quite as successful do not. In America, a person should be able to leave their children a small business without the government taking it and selling it off so that they can tax everything a second time.
If they are getting hit with the tax, then check that up to poor estate planning .
Same wh Prince . Now wil!? That's fucking crazy when he owns so much .
Ok - I completely agree with you on Prince and the will. However, that doesn't change the Death Tax. Will or no will, the Death Tax is still in affect. Are you under the impression that the Death Tax magically becomes null and void with a will? If you are, I can assure you that it doesn't. The only thing a will does is avoid forcing the assets to go through probate (where the government will in fact take even more).Honestly - no, they really don't. If you would stop hating what you perceive to be "rich" people and open your mind you would see that people lose their parents businesses because of this nonsense.Yes . Heavy taxes on a windfall . Oh the horror !
How come no one ever defends lottery winners ? The only people who actually pay the top tax rates !
No. This is vintage liberal cluelessness.
Do you have any idea how many small businesses have assets which exceeds $5 million by which are not "liquid"? A great example of this are ca r dealerships. The automobiles on the lots and the buildings will far exceed $5 million. But the child may not have $2.5 in cash to pay the Mafia extortionists in the federal government. So I should not be able to leave my children a business that I built for them?!? Why? Simply because you have nauseating envy and hate for people who have more than you do?
The tax code allows a dozen ways to protect that shit . Don't worry , the tax code is not designed to screw over the wealthy .
Why do you think it's so big? All those codes are to help the working class?!? Lol!
When it comes to a business, $5 million in assets is nothing. You'd be hard pressed to find a small business that doesn't have at least that much (it would have to be a really small business out of someone's home or something). But having that much in a building, materials, products, etc. doesn't always mean that they have that type of liquidity as well. Some certainly would. But others that are not quite as successful do not. In America, a person should be able to leave their children a small business without the government taking it and selling it off so that they can tax everything a second time.
If they are getting hit with the tax, then check that up to poor estate planning .
Same wh Prince . Now wil!? That's fucking crazy when he owns so much .
As far as "estate planning" - again that doesn't make much sense. I've got a thriving car dealership. 2008 and 2009 hit and I take quit a beating. I use all of my savings to keep my business afloat (which also keeps all of my people in jobs - a very admirable thing to do when I could have simply cashed out and lived as a greedy, rich person). Then I suddenly pass away in 2010 and my son doesn't have the $2.5 million liquidity to pay Uncle Sam to cover the $5 million dealership that is suddenly his. Considering every single cent on that dealership has already been taxed by Uncle Sam - I simply do not see how that is just. If we have double-jeopardy to prevent people for being tried multiple times for the same crime, we should most definitely have double-jeopardy to prevent people for being taxed multiple times for the same income and assets.
Well let me clarify - I don't have a "business" in the traditional sense. I am self-employed but what I was saying above was in a hypothetical sense. I've read several articles about farmers, car dealerships, etc. where this is occurring. Their assets are in the millions but the family doesn't have the money to cover the death tax. So that's what I was referring to.Ok - I completely agree with you on Prince and the will. However, that doesn't change the Death Tax. Will or no will, the Death Tax is still in affect. Are you under the impression that the Death Tax magically becomes null and void with a will? If you are, I can assure you that it doesn't. The only thing a will does is avoid forcing the assets to go through probate (where the government will in fact take even more).Honestly - no, they really don't. If you would stop hating what you perceive to be "rich" people and open your mind you would see that people lose their parents businesses because of this nonsense.No. This is vintage liberal cluelessness.
Do you have any idea how many small businesses have assets which exceeds $5 million by which are not "liquid"? A great example of this are ca r dealerships. The automobiles on the lots and the buildings will far exceed $5 million. But the child may not have $2.5 in cash to pay the Mafia extortionists in the federal government. So I should not be able to leave my children a business that I built for them?!? Why? Simply because you have nauseating envy and hate for people who have more than you do?
The tax code allows a dozen ways to protect that shit . Don't worry , the tax code is not designed to screw over the wealthy .
Why do you think it's so big? All those codes are to help the working class?!? Lol!
When it comes to a business, $5 million in assets is nothing. You'd be hard pressed to find a small business that doesn't have at least that much (it would have to be a really small business out of someone's home or something). But having that much in a building, materials, products, etc. doesn't always mean that they have that type of liquidity as well. Some certainly would. But others that are not quite as successful do not. In America, a person should be able to leave their children a small business without the government taking it and selling it off so that they can tax everything a second time.
If they are getting hit with the tax, then check that up to poor estate planning .
Same wh Prince . Now wil!? That's fucking crazy when he owns so much .
As far as "estate planning" - again that doesn't make much sense. I've got a thriving car dealership. 2008 and 2009 hit and I take quit a beating. I use all of my savings to keep my business afloat (which also keeps all of my people in jobs - a very admirable thing to do when I could have simply cashed out and lived as a greedy, rich person). Then I suddenly pass away in 2010 and my son doesn't have the $2.5 million liquidity to pay Uncle Sam to cover the $5 million dealership that is suddenly his. Considering every single cent on that dealership has already been taxed by Uncle Sam - I simply do not see how that is just. If we have double-jeopardy to prevent people for being tried multiple times for the same crime, we should most definitely have double-jeopardy to prevent people for being taxed multiple times for the same income and assets.
Let me ask, can't you utilize trusts to shield from the tax burden? Is your biz incorporated ?
Well let me clarify - I don't have a "business" in the traditional sense. I am self-employed but what I was saying above was in a hypothetical sense. I've read several articles about farmers, car dealerships, etc. where this is occurring. Their assets are in the millions but the family doesn't have the money to cover the death tax. So that's what I was referring to.Ok - I completely agree with you on Prince and the will. However, that doesn't change the Death Tax. Will or no will, the Death Tax is still in affect. Are you under the impression that the Death Tax magically becomes null and void with a will? If you are, I can assure you that it doesn't. The only thing a will does is avoid forcing the assets to go through probate (where the government will in fact take even more).Honestly - no, they really don't. If you would stop hating what you perceive to be "rich" people and open your mind you would see that people lose their parents businesses because of this nonsense.The tax code allows a dozen ways to protect that shit . Don't worry , the tax code is not designed to screw over the wealthy .
Why do you think it's so big? All those codes are to help the working class?!? Lol!
When it comes to a business, $5 million in assets is nothing. You'd be hard pressed to find a small business that doesn't have at least that much (it would have to be a really small business out of someone's home or something). But having that much in a building, materials, products, etc. doesn't always mean that they have that type of liquidity as well. Some certainly would. But others that are not quite as successful do not. In America, a person should be able to leave their children a small business without the government taking it and selling it off so that they can tax everything a second time.
If they are getting hit with the tax, then check that up to poor estate planning .
Same wh Prince . Now wil!? That's fucking crazy when he owns so much .
As far as "estate planning" - again that doesn't make much sense. I've got a thriving car dealership. 2008 and 2009 hit and I take quit a beating. I use all of my savings to keep my business afloat (which also keeps all of my people in jobs - a very admirable thing to do when I could have simply cashed out and lived as a greedy, rich person). Then I suddenly pass away in 2010 and my son doesn't have the $2.5 million liquidity to pay Uncle Sam to cover the $5 million dealership that is suddenly his. Considering every single cent on that dealership has already been taxed by Uncle Sam - I simply do not see how that is just. If we have double-jeopardy to prevent people for being tried multiple times for the same crime, we should most definitely have double-jeopardy to prevent people for being taxed multiple times for the same income and assets.
Let me ask, can't you utilize trusts to shield from the tax burden? Is your biz incorporated ?
I just don't understand why the government gets to tax everything a second time. And even if they should get to (which is bizarre to me and would require one heck of a justification), they should at least make it significantly more than $5 million. Or, at the very least, look at the true financial records and establish what would be "fair" and "equitable". Instead of making it 50% of total assets, what about 50% of cash only. That way people wouldn't be forced to produce what they don't have. So using the car dealership example again, maybe both dealerships have $5 million in assets but one has $2 million in cash and the other has $190,000 in cash. Then the first dealership is taxed $1 million and the other is taxed $95,000. I'd still find this criminal, but at least the government wouldn't be demanding that the survivors pay the government what they don't have.
