Republicans to repeal inheritance tax!

[Dot Com]

I'm w/ Teddy Roosevelt on this: Teddy Roosevelt Betrayed - NYTimes.com
.''
"Roosevelt, the Oyster Bay patrician who used his inheritance to lead a life of public service rather than a life of leisure, always believed that the transmission of enormous wealth to young men
''does not do them any real service and is of great and genuine detriment to the community at large"


Sent from my BN NookHD+ using Tapatalk

 

[koshergrl]

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.

Another full o shit lie. The inheritance tax applies to all, you twit. I know ranchers who, after they died, lost their land because their family couldn't afford the Inheritance tax on the property.

What the hell are you, stupid? Or just ignorant?

And it has to be paid every single time the inheritance is passed down. Another ploy by the left to steal money they haven't earned, so they can redistribute it to the non-working voter class, and thus pad the pockets of the one percenters like Obama and the Clintons..who claim to hate one percenters, lol.

 

[BlindBoo]

"So, taxing large inheritances serves to back up gaps in other taxes. That's especially vital now, as we face a dangerous imbalance between federal spending and revenue. Yes, spending must be cut, but we must also have enough tax revenue to keep the government running. If we kill the estate tax, the money will have to come from somebody else.

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.

"We grudge no man a fortune in civil life if it is honorably obtained and well used. It is not even enough that it should have been gained without doing damage to the community. We should permit it to be gained only so long as the gaining represents benefit to the community … The really big fortune, the swollen fortune, by the mere fact of its size, acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. Therefore, I believe in a graduated income tax on big fortunes, and … a graduated inheritance tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in amount with the size of the estate."

 

[Wry Catcher]

It should be repealed, the money has already been taxed

You really are stupid. Well, Stupid, can you guess the consequences such a STUPID cut will do, or are you so stupid you never think of the consequences of such an act?

Consider (if you can) Mr Franklin's remark (you've got a republic, if you can keep it); consider it in context (if you can) with the two infamous Supreme Court Decisions, CU v. FEC and McCutcheon v. FEC, and then find a dictionary (there are several on line) and look up Oligarchy and Plutocracy.

 

[Zoom-boing]

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?

 

[hazlnut]

It should be repealed, the money has already been taxed

1. Not necessarily.
2. What's that got to do with it?
3. Read Gospel of Wealth by Andrew Carnegie.

 

[SassyIrishLass]

It should be repealed, the money has already been taxed

1. Not necessarily.
2. What's that got to do with it?
3. Read Gospel of Wealth by Andrew Carnegie.

Idiot....of course it's been taxed. Go comment on fairy threads, it's more of your domain

 

[hazlnut]

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.

 

[g5000]

I wonder how this tax elimination will be paid for.

while Reagan had the RW's running around all happy with big dog tax cuts, he raised taxes 11 times when they weren't paying attention ... smoke meet mirror.

The aggregate effect, though, was a lowering of taxes. He only raised them because his original cuts had been too deep, and he was man enough to admit it. Unlike the modern day Republicans.

Nonetheless, his tax increases did not wipe out the cuts.

 

[iamwhatiseem]

Obama - inarguably the greatest partaker of trickle down economics in the history of the country.
Since he took office - the top 7% have absolutely lavished in a record 33% earnings increase...while the remaining 93% of WORKING Americans have suffered a 5% decrease.
He has taken the phrase "fleecing of America" to whole new levels of taking taxpayer dollars directly to the central banks/Wal Street Firms/Super-Corporations than any other President could have ever imagined.

But leave it to the left to think he represents them and call the GOP the party of the rich.
You just can't make this shit up

 

[Zoom-boing]

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.

So one is a freeloader because they want to keep the money they've accumulated? You progressives are batshit crazy, you know that? Seriously.

There will still be a need for estate and trust planning, with or without the death tax.

 

[hazlnut]

It should be repealed, the money has already been taxed

1. Not necessarily.
2. What's that got to do with it?
3. Read Gospel of Wealth by Andrew Carnegie.

Idiot....of course it's been taxed. Go comment on fairy threads, it's more of your domain

So, you're saying you know nothing about tax law and tax shelters and deferments and short-term vs. long term gains vs. about 100 other financial instruments used to avoid federal income tax.


Tell you what, zipperhead, next time you reply to one of my posts, get my permission.

You're an ant in the afterbirth. Go away.

 

[g5000]

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".

 

[Dad2three]

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.


The causes which destroyed the ancient republics were numerous; but in Rome, one principal cause was the vast inequality of fortunes. Noah Webster

The disposition to admire, and almost to worship, the rich and the powerful, and to despise, or, at least, to neglect persons of poor and mean condition is the great and most universal cause of the corruption of our moral sentiments. Adam Smith

 

[SassyIrishLass]

It should be repealed, the money has already been taxed

1. Not necessarily.
2. What's that got to do with it?
3. Read Gospel of Wealth by Andrew Carnegie.

Idiot....of course it's been taxed. Go comment on fairy threads, it's more of your domain

So, you're saying you know nothing about tax law and tax shelters and deferments and short-term vs. long term gains vs. about 100 other financial instruments used to avoid federal income tax.


Tell you what, zipperhead, next time you reply to one of my posts, get my permission.

You're an ant in the afterbirth. Go away.

It's funny when limp wrists such as yourself try to be all manly and shit. Little dude our tax liability for last year is most likely more than you grossed.

 

[g5000]

Time to roll out this oldie but goodie. It is just as relevant as ever.

Did you know Mitt Romney bought an elevator for his car?!?

What?!?! How could he do that?

He didn't EARN that money!!!

That's OUR money.

Let's tax the rich more!

 

[Dad2three]

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".

Death, Taxes, and the American Founders


But in the case of the estate tax, the founders struggled with the same issues that we struggle with today. And many of them—though not all—believed that taxing and reducing large estates was a good idea, for it benefited society as a whole. -

History News Network Death Taxes and the American Founders

 

[hazlnut]

So one is a freeloader because they want to keep the money they've accumulated?

The decedents of a wealthy person did NOT accumulate or earn the income.

They did nothing to generate the income.

They did nothing to produce the industry/jobs/innovations that produced the fortune.

There will still be a need for estate and trust planning, with or without the death tax.

Only a small fraction of what now exists.

Don't be stupid.

 

[Dad2three]

Time to roll out this oldie but goodie. It is just as relevant as ever.

Did you know Mitt Romney bought an elevator for his car?!?

What?!?! How could he do that?

He didn't EARN that money!!!

That's OUR money.

Let's tax the rich more!

 

[g5000]

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".

Death, Taxes, and the American Founders


But in the case of the estate tax, the founders struggled with the same issues that we struggle with today. And many of them—though not all—believed that taxing and reducing large estates was a good idea, for it benefited society as a whole. -

History News Network Death Taxes and the American Founders

I have quoted Thomas Jefferson's thoughts on the concentration of wealth many times on this forum. He proposed a progressive tax system, with those below a certain income not being taxed at all.

Just like we have today.

He also proposed eliminating primogeniture, which in itself suggests he believed in children receiving their inheritance. He just didn't think only the oldest son should receive it all.

Paris Hilton is not the oldest son.

Just the way Jefferson wanted it.