Republicans to repeal inheritance tax!

[M14 Shooter]

God forbid the kids of the superrich are actually allowed to run anything we have our 401K pittances in. Seriously, rent the documentary Born Rich, by one of the Johnson heirs, to see the level of cognitive function inbreeding brings.

How are you entitled to part of the money left to someone by someone else?

 

[bendog]

I thought Rebpubs were against freeloaders and handouts.


Also, the ABA and every CPA lobby will never let this one go anywhere as Trusts and estate planning are a major profit center for them.

We are against freeloaders and handouts, which is why we oppose the government demanding that people give their money to them to redistribute, rather than giving it to the person of their choice.

But thanks for sharing your theory that the government is taking people's money in order to prevent handouts, you disingenuous prick. It was the stupidest attempt to be clever that I've heard all week.

To be accurate, over half of the taxes collected on this are paid by the 1-1000th richest, and even there it's not like their kids are being hurt. Their estates avoid the taxes mostly by giving to private charities, like the Robert Woods Johnson fund. No one, no one, no one, at Johnson and Johnson wants Woody Johnson anywhere near the corporation as the man can't even run an NFL team, where it's literally impossible not to make money .... I mean you cannot help but make money if you're rich enough to buy one.

The the less than genius kids get jobs at the Foundations, where they're paid well and don't have chances to get into too much trouble.

God forbid the kids of the superrich are actually allowed to run anything we have our 401K pittances in. Seriously, rent the documentary Born Rich, by one of the Johnson heirs, to see the level of cognitive function inbreeding brings.

To be accurate, "It's not really going to hurt them if we take it" is not a valid excuse for you being a greedy ****. Neither is "They're rich". IT'S NOT YOURS. You have not said anything that mitigates or eliminates this fact. I don't expect you ever will. IT IS NOT YOURS. IT IS THEIRS. Period. End of discussion.

**** you ***** for the name calling, and **** you too for wanting my money.

 

[bendog]

[
God forbid the kids of the superrich are actually allowed to run anything we have our 401K pittances in. Seriously, rent the documentary Born Rich, by one of the Johnson heirs, to see the level of cognitive function inbreeding brings.

How are you entitled to part of the money left to someone by someone else?

I don't tax anyone, wargamer.

 

[M14 Shooter]

[
God forbid the kids of the superrich are actually allowed to run anything we have our 401K pittances in. Seriously, rent the documentary Born Rich, by one of the Johnson heirs, to see the level of cognitive function inbreeding brings.

How are you entitled to part of the money left to someone by someone else?

I don't tax anyone, wargamer.

You also don't answer questions.
I'll ask again:
How are you entitled to part of the money left to someone by someone else?

Kodos on getting the ASL reference.

 

[Toro]

The party of the rich, for the rich, by the rich. Once again, the wolves shear the sheep while the sheep cheer them on.

Republicans Push 269 Billion Handout For Millionaire Heirs And Heiresses

excerpt:

WASHINGTON -- House Republicans this week will vote to hand the heirs and heiresses of America's largest fortunes a $269 billion tax break by repealing the federal inheritance tax.

The legislation would shield the very richest families from taxes on the fortunes they inherit. After years of GOP attacks on the inheritance tax, also known as the estate tax, only a few thousand of the wealthiest families are subjected to it -- 4,700 total in 2013, according to the Joint Committee on Taxation. Only individual fortunes worth over $5.43 million can be taxed under current law, an amount that doubles to $10.86 million for wealthy couples. The Republican proposal would eliminate all of these estates -- which are over 15,700 percent richer than the median American household -- from taxation.

Awesome.

We shouldn't be taxing wealth like this.

 

[BlindBoo]

[
God forbid the kids of the superrich are actually allowed to run anything we have our 401K pittances in. Seriously, rent the documentary Born Rich, by one of the Johnson heirs, to see the level of cognitive function inbreeding brings.

How are you entitled to part of the money left to someone by someone else?

I don't tax anyone, wargamer.

You also don't answer questions.
I'll ask again:
How are you entitled to part of the money left to someone by someone else?

Kodos on getting the ASL reference.

The government is entitled to it and all the taxes it collects by the authority of the US Constitution and the laws that Congress passed. It certainly isn't for personal gain by any one individual as you seem to want to suggest.

 

[Wry Catcher]

Where is the handout? It is already their money...

The "Handout" comes later, when the children use the largess to 'donate' to those who write laws, which aid the the very wealthy to secure for them more and more wealth - see the Brother's Koch for an example. And if you're of the mind to, see in your minds eye the dystopian future if the Republicans get their way; how will our nation look when all of the wealth is hidden behind gated enclaves, and the hoi polloi live from hand to mouth?

How long will it take, before what the power elite fear the most, rises up? Anyone with a fundamental knowledge of history should understand how the current iteration of the far right today can and will lead to violence unless they wake up.

See, for example the list of popular revolts over the millenniums:

List of revolutions and rebellions - Wikipedia the free encyclopedia

The First, the Set rebellion of 2740 BC; the most recent, 2014–15 Yemeni coup.

In between, thousands of events - some great, some small but all violent.

You make no sense at all. you ASSUME that they would put their money (note, it is already their money, it is NOT governments) to do as you say.

Yet you have no problem in taking money from people and putting it to use for what you want. Its only those who inherit that are not permitted to proctect their own interests?

Oh, and that is STILL NOT a handout.

Do you know how many families will benefit from this repeal?

Meaningless question.

bullshit response, ^^^, as usual

Facts Don t Back Estate Tax Repeal - US News

Ten Facts You Should Know About the Federal Estate Tax Center on Budget and Policy Priorities

Estate Tax FAQs United for a Fair Economy

Yes Virginia, the Republican Party takes from the poor and the middle class & gives to the very rich. Anyone who tells you differently is a LIAR! Or a fool (some are both).

It seems a large number of those above - liars and fools - are echoing each other in post after post. What ought to be debated are the points made in the three links posted earlier. That the echo chamber didn't read them is obvious, and clear and convincing evidence that they are willfully ignorant, likely because they are fearful that something might convince them they are wrong and their Messiah, Fox Entertainment, lied to them.

 

[Soggy in NOLA]

[
God forbid the kids of the superrich are actually allowed to run anything we have our 401K pittances in. Seriously, rent the documentary Born Rich, by one of the Johnson heirs, to see the level of cognitive function inbreeding brings.

How are you entitled to part of the money left to someone by someone else?

I don't tax anyone, wargamer.

You also don't answer questions.
I'll ask again:
How are you entitled to part of the money left to someone by someone else?

Kodos on getting the ASL reference.

The government is entitled to it and all the taxes it collects by the authority of the US Constitution and the laws that Congress passed. It certainly isn't for personal gain by any one individual as you seem to want to suggest.

I think the question is why? Why is it ok take roughly 40% of what someone accumulated? Accumulated out of after tax money just because they had the misfortune of dying? What's your justification?

 

[Cecilie1200]

Someone please explain why the government should seize Paris Hilton's inheritance instead of it going to Paris Hilton as her great-grandpa intended. Explain how this is "fair".

First off they tax the amount over 5.43 million dollars and the rest is taxed at 40%. To the heirs its like 5.43 non taxable bonus free income and the rest of the bonus income is taxed. How is any tax fair? My parents once gave me a car, I had to pay a gift tax on that. How was that fair?

Gosh, I'm so glad that you helpfully explained to us why it's really okay to take something that isn't yours because it doesn't really harm the people it DOES belong to. That just makes you all warm and fuzzy and not like a cheap-ass, covetous, thieving piece of shit at all.

 

[Cecilie1200]

Made your first million dollar profit trade yet, JP Getty?

I have, at the tender age of 24 God Bless BTU and don't try and snow me on capital gains

Hey now, don't act like you believe me. Cause I sure as **** don't believe you. This is the internet and you can be as rich as you want to be. And liars like you have a way of being richer than you actually are. Funny how the "Net is like that. You just never know.

^^^^Covetous and resentful attitude typical of losers who depend upon the charity of others to live a life much better than they will ever be able to pay for themselves.

Ass clown, I wouldn't take your advice on how to breathe in and out correctly, let alone on how to be a conservative/Republican correctly.

 

[Cecilie1200]

The extremists don't understand why people want to have a say in who gets the money they earn.

What amazes me is that leftists actually resent conservatives and think we're mean because we insist on debating the question of whether or not it's okay to confiscate people's money AT ALL, rather than simply conceding that point and moving on to debating how much should be taken.

 

[Cecilie1200]

Conservatives/GOP ALWAYS trying to keep the AmeriKa THEY love to be an aristocracy over a merit based society. Weird

Starting on 3rd base to them means everyone's is equal, lol

I see you continue to ignore all the "little people" who are adversely affected by this. It's the middle class people this hurts. I guess you are out of touch and don't realize how many farmers and small businesses are hanging on by a thread and any chance the children have of making a go of it after the parents die has been made difficult, if not impossible, by undue taxes that place a heavy burden on struggling businesses.

Got it, you'll stick with right wing memes versus truth. NO TAX UNDER ALMOST $11 MILLION PER FAMILY TO BEGIN WITH BUBS


Ten Facts You Should Know About the Federal Estate Tax Center on Budget and Policy Priorities

If it wasn't for memes, the only thing in your head would be the empty, whistling noise of wind blowing through.

 

[Cecilie1200]

In the stock example here's how a wealth tax works:

You pay $1,000 for some share of what we'll call MicroApple.

You get $10 dividend checks once a year.

That $10 is subject to income taxation.

Now, 30-years later, the paper value of the stock is $1,000,000. Not at all unrealistic. But you're still earning $35,000 a year including the dividend on the number of shares you own, not on their paper value.

But, with a 10% wealth tax, you have to come up with $100,000 to hand over because you still own the stock for which you paid $1,000. You haven't sold any and the value could fall to zero next week but you're still on the hook for at least $65,000 MORE than you earned.

See the fairness in all that?

Me neither.

A wealth tax is not even being considered in the USA. If you were to die and then will that stock to your son lets say, not one penny of the 1 million dollars that stock is worth would be taxed in 2015 by the Feds.

And if that stock is subsequently sold, what then?

Cap gains taxes on the GAIN is paid. Among the lowest in modern times!

Remind me. Why is it that that makes you entitled to other people's money?

 

[Cecilie1200]

I can see the GOP's focus on the Middle Class from here.
I'm 199% for helping those who don't need help and not helping those who definitely need help.
Don't worry folks, it'll all trickle down like it has in the past.

Why should any of someone else's wealth trickle down to you when they die?

Because, according to the will, it belongs to me, not the state.

Also because the owner - that pesky "someone else" - wanted it to. If they had wanted the state to have it, I'm fairly sure they could have arranged that.

 

[Cecilie1200]

Estate tax is a progressive idea designed to redistribute wealth, held onto by progressives for no other reason than it is a progressive idea that redistributes wealth.
Nothing more, nothing less.

It's nothing new that for sure.

And no reason to keep it other than mindless, bigoted partisanship.

The reasons Teddy was for it still stand today, even though you seem to have removed his quote.

You can quote whoever you want -- it remains because of mindless, bigoted partisanship.
Estate tax is a progressive idea designed to redistribute wealth, held onto by progressives for no other reason than it is a progressive idea that redistributes wealth.
Nothing more, nothing less

The estate tax now is levied solely on fortunes over $10.9 million for a couple or $5.4 million for an individual. It’s a graduated tax, with the average effective rate of 16 percent.


Adam Smith, Thomas Jefferson, and other fellow travelers


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.

Well, if there's anyone who has a direct line to the brains of our Founding Fathers, it's some obscure blogger on the Internet.

 

[Cecilie1200]

I have absolutely no problem with this.... why is the government entitled to a cut of what I have earned and chose to leave to my heirs?

Well, once you're dead there's very little chance they'll hear your complaints.

The only thing leftists hear from dead people is their multiple votes for Democrats in each and every election.

 

[Cecilie1200]

The estate tax will generate about $246 billion over 2016-2025 under current law, according to CBO

Out of a total of about $50,000 billion in receipts during that period.

One half of one percent.

Chump change.

lol, Then we could go for more right? ONLY in right wing world, almost a quarter trillion "chump change"

So now you not only want the ability to loot other people's bank accounts, you also want praise and admiration for not taking all of it?

 

[Cecilie1200]

The party of the rich, for the rich, by the rich. Once again, the wolves shear the sheep while the sheep cheer them on.

Republicans Push 269 Billion Handout For Millionaire Heirs And Heiresses

excerpt:

WASHINGTON -- House Republicans this week will vote to hand the heirs and heiresses of America's largest fortunes a $269 billion tax break by repealing the federal inheritance tax.

The legislation would shield the very richest families from taxes on the fortunes they inherit. After years of GOP attacks on the inheritance tax, also known as the estate tax, only a few thousand of the wealthiest families are subjected to it -- 4,700 total in 2013, according to the Joint Committee on Taxation. Only individual fortunes worth over $5.43 million can be taxed under current law, an amount that doubles to $10.86 million for wealthy couples. The Republican proposal would eliminate all of these estates -- which are over 15,700 percent richer than the median American household -- from taxation.

WHat right does the government have to take half the life time of savings one has built?
That money has been taxed many times over.
Inheritance taxes are legalized theft.

5. The Largest Estates Consist Mostly of “Unrealized” Capital Gains That Have Never Been Taxed
Ten Facts You Should Know About the Federal Estate Tax Center on Budget and Policy Priorities

Remind me. Why does that make you entitled to someone else's money?

 

[Cecilie1200]

It only taxes estates of $10,000,000. and more. Most poor republicans don't know that it's just for very rich folks.

Maybe we just don't care because we don't think right and wrong are defined by whether or not it directly affects us.

 

[Cecilie1200]

It only taxes estates of $10,000,000. and more. Most poor republicans don't know that it's just for very rich folks.

"It" in any form, is bad for US. Do you think the African elite families who sold their people into slavery pay estate taxes? Think the Kims in North Korea or the Castros in Cuba are paying estate taxes? How about the Saudis? If they aren't, why the **** should we do it? Unlike those corrupt cultures and "economies", we give people freedom and opportunity to advance. You people need to stop trying to take that away.

9. The United States Taxes Estates More Lightly Than Comparable Countries
Twenty-seven of the 34 members of the Organisation for Economic Co-Operation and Development levied some form of estate tax, inheritance tax, or other wealth or wealth transfer tax in 2012 (the latest year for which full data are available). U.S. estate and gift tax revenues at all levels of government were well below average among these 27 countries as a share of the economy.[24]

10. The Estate Tax Is the Most Progressive Part of the U.S. Tax Code



Ten Facts You Should Know About the Federal Estate Tax Center on Budget and Policy Priorities

Remind me. Why does that make you entitled to someone else's money?