your exact words Fitz. You implied that the top 2% or earners employ most of the world. I simply showed that to be untrue.
Two things here you are forgetting, but not surprising really.
1. The top two wage earners invest in things that employ people. They may not be the boss directly, but their money works for them by making it possible for jobs to exist.
2. It is irrelevant how they earn their money. You are still not entitled to the vast majority of it. Oh a little nibble as a part of paying for the constitutional powers of the government, not distorted by the misused of the commerce clause and public good misinterpretations, yes. Just as every citizen should pay. But to assume that because it costs so little of their capital to have an 'average' life, you are entitled to the rest is just evil greed on your part.
most small business owners, who actually create 80% of all new jobs are not affected by the estate tax.
Unless they retire or die. Then they or their heirs are ruined by the taxation. Secondly, where did they get the capital to start up? Institutions making the money from the richest 2% among others work for interest. Or do loans come from Obama's Stash or thin air in the bank vaults?
if you are part of the .05% of people who would be affected by the estate tax, simply hiring a tax attorney will solve all of your problems.
Then you are quibbling over a trifle since they can easily escape the law and you create only hardship for those who cannot afford the tax attorneys and accountants who are less financially sound and doomed to be fucked over by your overzealous sense of entitlement. Yeah.. that's the way to do it.
as it is currently written in law, when assets in an estate change hands they are seen as new income to the recipient. they did not own them before, and no one here has been able to show that they had ownership.
Really? Is that so? Explain the generational family farm which is consistently destroyed by this philosophy. Grandfather to father to son to grandson. It never makes it past this current generation because the tax man shows up, assesses the property and decides the family which has never left the land and nothing has changed owes 12 million so they can continue doing what they did for 4 generations on the same spot. All to satisfy your selfish jealousy and greed.
Everyone here who is against the estate tax wants the ability to pass anything to family tax free.
You're goddamned right. I can tell you don't stand to inherit anything and your jealousy clouds your judgment. Or you're just stupid.
any individual can then simply pass on any asset and avoid paying taxes on them to begin with.
So? I fail to see this as a bad thing. Ain't yours. Ain't the government's.
i could make a huge profit through investing and to simply avoid paying any taxes on them, i could pass those assets on to a family member instead of taking ownership of them.
Umm... dumbass, you only die once.
the other issue at hand is that if the estate tax is eliminated you have pushed approximately $500 billion over the next ten years back on to the middle and lower classes. (as per the CBO:
http://www.floridaprobatetrustlaw.co...te-tax-raise/:
Really? My, I guess they'll just have to cut 500 billion in spending. We don't have the money. Oh damn.
Tax cuts are free. Spending is not. If you do not have the income, you cannot spend on new toys or bigger ones. Cut spendng and your problems go away. Why are you so blind to the solution that is soon to be rammed down your throat by economic reality regardless of the tax rate?
