Stephanie
Diamond Member
- Jul 11, 2004
- 70,230
- 10,881
- 2,040
pipe down. good grief you are one trick pony again
Repeal of estate tax will add 269 billion to deficit
- Thread starter Billy000
- Start date
pipe down. good grief you are one trick pony again
hortysir
In Memorial of 47
You two need to get your shit straight.
Are we discussing debt or deficit.
They are not the same. You know that, right?
Rozman
Gold Member
New York Estate Tax Nolo.com
From the article...
The New York estate tax rate, however, is much lower than the federal estate tax rate (40%); the state rate starts at five percent and goes up to 16%.
So if I read this right the Federal rate is 40 % and for NY State another 5%
So we are up to 45%....
Paying taxes on top of paying taxes...
Perfectly fine....For Libs anyway.
Or if you want it for infrastructure then by all means then screw those rich bastards...
From the article...
The New York estate tax rate, however, is much lower than the federal estate tax rate (40%); the state rate starts at five percent and goes up to 16%.
So if I read this right the Federal rate is 40 % and for NY State another 5%
So we are up to 45%....
Paying taxes on top of paying taxes...
Perfectly fine....For Libs anyway.
Or if you want it for infrastructure then by all means then screw those rich bastards...
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Yes the heirs haven't. So what. The government has already gotten to take at least two bites out of the wealth that could otherwise have been spent on those heirs as they were growing up. What right do you have to take money away from them that has already been taxed?
blackhawk
Diamond Member
So now we are suddenly concerned about debt and deficit? 269 billion added to the deficit is an outrage but not the 8 trillion and counting that has been added to the national debt.
Stephanie
Diamond Member
- Jul 11, 2004
- 70,230
- 10,881
- 2,040
Stephanie
Diamond Member
- Jul 11, 2004
- 70,230
- 10,881
- 2,040
fits here I suppose
SNIP:
Tax Policy, Double Taxation, Tax Reform, and the Proper Definition of Income
April 15, 2015 By Daniel J. Mitchell
With so many Americans currently filled with anxiety about their annual tax forms, this is the time of year that many people wistfully dream about how nice it would be to have a simple and fair flat tax.
Unfortunately, there are many obstacles to better tax policy. I’ve previously addressed some of these obstacles.
1. Politicians who prefer the status quo make appeals to envy by making class-warfare arguments about imposing higher tax rates on those who contribute more to economic output.
2. Politicians have created a revenue-estimating system based on the preposterous notion that even big changes in tax policy have no impact on economic performance, thus creating a procedural barrier to reform.
3. Politicians enormously benefit from the current corrupt and complex systemsince they can auction off tax loopholes for campaign cash and use the tax code to reward friends and punish enemies.
Today, we’re going to look at another obstacle to pro-growth reform.
One of the main goals of tax reform is to get a low flat rate. This is important because marginal tax rates affect people’s incentives to engage in additional productive behavior.
But it’s equally important to have a system that taxes economic activity only one time.
This is a big issue because the current internal revenue code imposes a heavy bias against income that is saved and invested. It’s possible, when you consider the impact of thecapital gains tax, corporate income tax, double tax on dividends, and thedeath tax, for a single dollar of income to be taxed as many as four times.
And what makes this system so crazy is that all economic theories – even Marxism and socialism – agree that capital formation is critical for long-run growth and rising living standards.
Yet here’s the problem. The crowd in Washington has set up a system for determining tax loopholes and that system assumes that there should be this kind of double taxation!
I’m not joking. You see this approach from the Joint Committee on Taxation. You see it from the Government Accountability Office. You see it from the Congressional Budget Office. Heck, you even see Republicans mistakenly use this benchmark.
ALL of it here:
Tax Policy Double Taxation Tax Reform and the Proper Definition of Income
SNIP:
Tax Policy, Double Taxation, Tax Reform, and the Proper Definition of Income
April 15, 2015 By Daniel J. Mitchell
With so many Americans currently filled with anxiety about their annual tax forms, this is the time of year that many people wistfully dream about how nice it would be to have a simple and fair flat tax.
Unfortunately, there are many obstacles to better tax policy. I’ve previously addressed some of these obstacles.
1. Politicians who prefer the status quo make appeals to envy by making class-warfare arguments about imposing higher tax rates on those who contribute more to economic output.
2. Politicians have created a revenue-estimating system based on the preposterous notion that even big changes in tax policy have no impact on economic performance, thus creating a procedural barrier to reform.
3. Politicians enormously benefit from the current corrupt and complex systemsince they can auction off tax loopholes for campaign cash and use the tax code to reward friends and punish enemies.
Today, we’re going to look at another obstacle to pro-growth reform.
One of the main goals of tax reform is to get a low flat rate. This is important because marginal tax rates affect people’s incentives to engage in additional productive behavior.
But it’s equally important to have a system that taxes economic activity only one time.
This is a big issue because the current internal revenue code imposes a heavy bias against income that is saved and invested. It’s possible, when you consider the impact of thecapital gains tax, corporate income tax, double tax on dividends, and thedeath tax, for a single dollar of income to be taxed as many as four times.And what makes this system so crazy is that all economic theories – even Marxism and socialism – agree that capital formation is critical for long-run growth and rising living standards.
Yet here’s the problem. The crowd in Washington has set up a system for determining tax loopholes and that system assumes that there should be this kind of double taxation!
I’m not joking. You see this approach from the Joint Committee on Taxation. You see it from the Government Accountability Office. You see it from the Congressional Budget Office. Heck, you even see Republicans mistakenly use this benchmark.
ALL of it here:
Tax Policy Double Taxation Tax Reform and the Proper Definition of Income
- Banned
- #168
Excessive spending causes deficits.
If you don't want debt then don't spend more than you have. It ain't rocket science.
By the way, you conveniently forgot to mention that Senator Obama and the 2007 and 2008 Democrat controlled Congress voted for the lion's share of what is referred to as Bush's debt in your stupid chart. Then Obama continued spending the money and accumulating tremendously more debt.
A Democrat discussing debt is like a whore discussing abstinent.
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BluesLegend
Diamond Member
Repeal of welfare will reduce the deficit by trillions of dollars, there problem solved.
Wildman
Gold Member
WOW !! good post BL
first logical reply i have seen in this thread which has turned into a shitfest. we all understand.., libergreedypigs want to take everything from a dead person.
the Conservative wants the inheritance retained by the family.
so why continue to sling shit at each other ?
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