Taxing the wealthy more will have little to no impact on your life or anyone around you

[Rustic]

What gives you the right to tax someone because they died?

The person who dies isn't getting taxed. The person that gets a windfall of income from the death is the one being taxed.

So taxing a dollar more than once is ok??
TO HELL WITH THAT!!!

You tax a dollar every time it changes hands

You are too stupid too breath. Huh?
Every time you give your kids money... Tax that money???

Stupid is as stupid does

You are allowed to gift your children a certain amount every year ( I think it is like $40 k) above that they pay taxes

See how eff'ed our system is???

 

[Rustic]

The person who dies isn't getting taxed. The person that gets a windfall of income from the death is the one being taxed.

No because government takes their money before it goes from the dead person to the heirs.

If my father is worth a million dollars, and he passes that on to his children and grand children, we may each get about $70,000 a piece. If government comes along and takes half of that money first, then we are actually getting taxed at a much higher bracket for the money we are getting.

Government gets a much bigger cut from my fathers estate than his very own children. What's right about that?

Here's the good news: The first $5.4 mil is federal inheritance tax exempt.

To hell with that, the federal should have no claim on any inheritance no matter the size.
Those dollars have already been taxed, who knows how many times.

Cheat the system, the federal government deserves to be cheated.

What comes around goes around...

In many cases, that money has not been taxed

You don't pay taxes on a capital gain until that gain is realized. So, if you paid a million for stocks and they are now worth ten million you do not pay taxes on the nine million profit until you sell

If you die. That ten million goes to your heirs

It's called risk...
Taxing risk makes no sense...

 

[rightwinger]

The person who dies isn't getting taxed. The person that gets a windfall of income from the death is the one being taxed.

No because government takes their money before it goes from the dead person to the heirs.

If my father is worth a million dollars, and he passes that on to his children and grand children, we may each get about $70,000 a piece. If government comes along and takes half of that money first, then we are actually getting taxed at a much higher bracket for the money we are getting.

Government gets a much bigger cut from my fathers estate than his very own children. What's right about that?

Here's the good news: The first $5.4 mil is federal inheritance tax exempt.

To hell with that, the federal should have no claim on any inheritance no matter the size.
Those dollars have already been taxed, who knows how many times.

Cheat the system, the federal government deserves to be cheated.

What comes around goes around...

In many cases, that money has not been taxed

You don't pay taxes on a capital gain until that gain is realized. So, if you paid a million for stocks and they are now worth ten million you do not pay taxes on the nine million profit until you sell

If you die. That ten million goes to your heirs

It's called risk...
Taxing risk makes no sense...

Of course it does

If the risk does not pay off, you are not taxed
if the risk pays off, you are

 

[HereWeGoAgain]

What gives you the right to tax someone because they died?

The person who dies isn't getting taxed. The person that gets a windfall of income from the death is the one being taxed.

So taxing a dollar more than once is ok??
TO HELL WITH THAT!!!

You tax a dollar every time it changes hands

You are too stupid too breath. Huh?
Every time you give your kids money... Tax that money???

Stupid is as stupid does

You are allowed to gift your children a certain amount every year ( I think it is like $40 k) above that they pay taxes

More like 14k.

 

[Camp]

The repubs fight for a balance budget by giving the richest tax breaks and increasing military spending. Not much of a fight there either.

Really? So when was the last time the richest got a tax break?

Yes they want to increase military spending. Protecting the country is in our Constitution and they are obligated to do so. Planned Parenthood and Cash for Clunkers is not.

Well they are fighting to eliminate the inheritance tax, a tax effecting only the very richest.

We spend more than the next 10 countries combined. You aren't serious about balancing a budget if you are adding to spending.

What gives you the right to tax someone because they died?

The person who dies isn't getting taxed. The person that gets a windfall of income from the death is the one being taxed.

No because government takes their money before it goes from the dead person to the heirs.

If my father is worth a million dollars, and he passes that on to his children and grand children, we may each get about $70,000 a piece. If government comes along and takes half of that money first, then we are actually getting taxed at a much higher bracket for the money we are getting.

Government gets a much bigger cut from my fathers estate than his very own children. What's right about that?

That is not how it works. The money goes into an estate which is controlled by an executor named by the deceased in a will and is transferred on to the children, grand children and or whoever is named in a will by that executor after court approval Taxes are paid by the people receiving the inheritance after it has been given to them, but in the example you give no one would be paying taxes because the 5.43 million each individual receives is tax exempt. The amount is adjusted to inflation every year. This is a pesky little fact the anti estate tax folks like to ignore. The first 5 million plus is totally tax free, exempt and excluded from taxation. That means that if you inherit 6 million dollars you will only be required to pay a tax on less than $600,000 at the same rates and conditions as anyone else.

 

[Rustic]

No because government takes their money before it goes from the dead person to the heirs.

If my father is worth a million dollars, and he passes that on to his children and grand children, we may each get about $70,000 a piece. If government comes along and takes half of that money first, then we are actually getting taxed at a much higher bracket for the money we are getting.

Government gets a much bigger cut from my fathers estate than his very own children. What's right about that?

Here's the good news: The first $5.4 mil is federal inheritance tax exempt.

To hell with that, the federal should have no claim on any inheritance no matter the size.
Those dollars have already been taxed, who knows how many times.

Cheat the system, the federal government deserves to be cheated.

What comes around goes around...

In many cases, that money has not been taxed

You don't pay taxes on a capital gain until that gain is realized. So, if you paid a million for stocks and they are now worth ten million you do not pay taxes on the nine million profit until you sell

If you die. That ten million goes to your heirs

It's called risk...
Taxing risk makes no sense...

Of course it does

If the risk does not pay off, you are not taxed
if the risk pays off, you are

...you just don't understand.

The federal government has no skin in the game, why should they be rewarded??

 

[Rustic]

Really? So when was the last time the richest got a tax break?

Yes they want to increase military spending. Protecting the country is in our Constitution and they are obligated to do so. Planned Parenthood and Cash for Clunkers is not.

Well they are fighting to eliminate the inheritance tax, a tax effecting only the very richest.

We spend more than the next 10 countries combined. You aren't serious about balancing a budget if you are adding to spending.

What gives you the right to tax someone because they died?

The person who dies isn't getting taxed. The person that gets a windfall of income from the death is the one being taxed.

No because government takes their money before it goes from the dead person to the heirs.

If my father is worth a million dollars, and he passes that on to his children and grand children, we may each get about $70,000 a piece. If government comes along and takes half of that money first, then we are actually getting taxed at a much higher bracket for the money we are getting.

Government gets a much bigger cut from my fathers estate than his very own children. What's right about that?

That is not how it works. The money goes into an estate which is controlled by an executor named by the deceased in a will and is transferred on to the children, grand children and or whoever is named in a will by that executor after court approval Taxes are paid by the people receiving the inheritance after it has been given to them, but in the example you give no one would be paying taxes because the 5.43 million each individual receives is tax exempt. The amount is adjusted to inflation every year. This is a pesky little fact the anti estate tax folks like to ignore. The first 5 million plus is totally tax free, exempt and excluded from taxation. That means that if you inherit 6 million dollars you will only be required to pay a tax on less than $600,000 at the same rates and conditions as anyone else.

The federal government deserves nothing, no matter the size...

It's not their money to begin with... It's the individual's.

Taxation without representation is what the death tax is...

 

[Camp]

Well they are fighting to eliminate the inheritance tax, a tax effecting only the very richest.

We spend more than the next 10 countries combined. You aren't serious about balancing a budget if you are adding to spending.

What gives you the right to tax someone because they died?

The person who dies isn't getting taxed. The person that gets a windfall of income from the death is the one being taxed.

No because government takes their money before it goes from the dead person to the heirs.

If my father is worth a million dollars, and he passes that on to his children and grand children, we may each get about $70,000 a piece. If government comes along and takes half of that money first, then we are actually getting taxed at a much higher bracket for the money we are getting.

Government gets a much bigger cut from my fathers estate than his very own children. What's right about that?

That is not how it works. The money goes into an estate which is controlled by an executor named by the deceased in a will and is transferred on to the children, grand children and or whoever is named in a will by that executor after court approval Taxes are paid by the people receiving the inheritance after it has been given to them, but in the example you give no one would be paying taxes because the 5.43 million each individual receives is tax exempt. The amount is adjusted to inflation every year. This is a pesky little fact the anti estate tax folks like to ignore. The first 5 million plus is totally tax free, exempt and excluded from taxation. That means that if you inherit 6 million dollars you will only be required to pay a tax on less than $600,000 at the same rates and conditions as anyone else.

The federal government deserves nothing, no matter the size...

It's not their money to begin with... It's the individual's.

Taxation without representation is what the death tax is...

You can not name a business or industry that does not depend on the government in some way to support the business or industry. Tax payers pay for those supports and infrastructures that make all business and industries possible. Go ahead and name one that doesn't.

 

[Rustic]

What gives you the right to tax someone because they died?

The person who dies isn't getting taxed. The person that gets a windfall of income from the death is the one being taxed.

No because government takes their money before it goes from the dead person to the heirs.

If my father is worth a million dollars, and he passes that on to his children and grand children, we may each get about $70,000 a piece. If government comes along and takes half of that money first, then we are actually getting taxed at a much higher bracket for the money we are getting.

Government gets a much bigger cut from my fathers estate than his very own children. What's right about that?

That is not how it works. The money goes into an estate which is controlled by an executor named by the deceased in a will and is transferred on to the children, grand children and or whoever is named in a will by that executor after court approval Taxes are paid by the people receiving the inheritance after it has been given to them, but in the example you give no one would be paying taxes because the 5.43 million each individual receives is tax exempt. The amount is adjusted to inflation every year. This is a pesky little fact the anti estate tax folks like to ignore. The first 5 million plus is totally tax free, exempt and excluded from taxation. That means that if you inherit 6 million dollars you will only be required to pay a tax on less than $600,000 at the same rates and conditions as anyone else.

The federal government deserves nothing, no matter the size...

It's not their money to begin with... It's the individual's.

Taxation without representation is what the death tax is...

You can not name a business or industry that does not depend on the government in some way to support the business or industry. Tax payers pay for those supports and infrastructures that make all business and industries possible. Go ahead and name one that doesn't.

It's the individual who allowed for the federal government to do all those things, for the businesses in turn for the individual to succeed.

The federal government should be seen and not heard...

 

[Camp]

The person who dies isn't getting taxed. The person that gets a windfall of income from the death is the one being taxed.

No because government takes their money before it goes from the dead person to the heirs.

If my father is worth a million dollars, and he passes that on to his children and grand children, we may each get about $70,000 a piece. If government comes along and takes half of that money first, then we are actually getting taxed at a much higher bracket for the money we are getting.

Government gets a much bigger cut from my fathers estate than his very own children. What's right about that?

That is not how it works. The money goes into an estate which is controlled by an executor named by the deceased in a will and is transferred on to the children, grand children and or whoever is named in a will by that executor after court approval Taxes are paid by the people receiving the inheritance after it has been given to them, but in the example you give no one would be paying taxes because the 5.43 million each individual receives is tax exempt. The amount is adjusted to inflation every year. This is a pesky little fact the anti estate tax folks like to ignore. The first 5 million plus is totally tax free, exempt and excluded from taxation. That means that if you inherit 6 million dollars you will only be required to pay a tax on less than $600,000 at the same rates and conditions as anyone else.

The federal government deserves nothing, no matter the size...

It's not their money to begin with... It's the individual's.

Taxation without representation is what the death tax is...

You can not name a business or industry that does not depend on the government in some way to support the business or industry. Tax payers pay for those supports and infrastructures that make all business and industries possible. Go ahead and name one that doesn't.

It's the individual who allowed for the federal government to do all those things, for the businesses in turn for the individual to succeed.

The federal government should be seen and not heard...

You are evading the question and challenge and offering an opinion. A statement has been made that the government has no skin in the game and therefore has no reason or right to tax. That idea is being challenged and called bullshit. The basis for that concept is false and misrepresents reality. It is a talking point that does not hold up and never has. You can not name one industry or business that does not require direct or indirect government tax payer support.

 

[NYcarbineer]

Well they are fighting to eliminate the inheritance tax, a tax effecting only the very richest.

We spend more than the next 10 countries combined. You aren't serious about balancing a budget if you are adding to spending.

What gives you the right to tax someone because they died?

The person who dies isn't getting taxed. The person that gets a windfall of income from the death is the one being taxed.

No because government takes their money before it goes from the dead person to the heirs.

If my father is worth a million dollars, and he passes that on to his children and grand children, we may each get about $70,000 a piece. If government comes along and takes half of that money first, then we are actually getting taxed at a much higher bracket for the money we are getting.

Government gets a much bigger cut from my fathers estate than his very own children. What's right about that?

That is not how it works. The money goes into an estate which is controlled by an executor named by the deceased in a will and is transferred on to the children, grand children and or whoever is named in a will by that executor after court approval Taxes are paid by the people receiving the inheritance after it has been given to them, but in the example you give no one would be paying taxes because the 5.43 million each individual receives is tax exempt. The amount is adjusted to inflation every year. This is a pesky little fact the anti estate tax folks like to ignore. The first 5 million plus is totally tax free, exempt and excluded from taxation. That means that if you inherit 6 million dollars you will only be required to pay a tax on less than $600,000 at the same rates and conditions as anyone else.

The federal government deserves nothing, no matter the size...

It's not their money to begin with... It's the individual's.

Taxation without representation is what the death tax is...

The 'individuals' have voted the government the authority to tax, and the elected representatives have been given the power to spend.

Therefore, some of your money does belong to the government. Legally.

 

[bripat9643]

I'm just shocked that you have such a limited understanding of how business works.
Taxes are a cost of doing business.
When those costs rise the prices rise right along with them. Do you think the owner is just going to eat those costs?

I know perfectly well how business works, comrade

And taxes are not a cost of doing business since they pay taxes on profits (which is by definition income minus cost)

Also, businesses already maximize profit. If they could raise prices without consequences they would have already have done so, that's why I asked how higher taxes lead to higher prices for the consumer.

Yep, taxes on profits are how ticks on the ass of society steal from future generations. Profits are the seed corn for future production. Tax profits and you reduce corporate expansion and reduce the wealth of future generations.

 

[NYcarbineer]

An income tax is unconstitutional...

It is in the Constitution

I will repeat...
Income tax is unconstitutional because the sixteenth conferred no new power of taxation...

Dumb a$$

It is in the Constitution

If you disagree, find a court that agrees with you

Just because government says so... Makes it right???
To hell with that.

You're a good candidate to refuse to pay your taxes. Good luck using your USMB arguments to win in court.

 

[rightwinger]

Here's the good news: The first $5.4 mil is federal inheritance tax exempt.

To hell with that, the federal should have no claim on any inheritance no matter the size.
Those dollars have already been taxed, who knows how many times.

Cheat the system, the federal government deserves to be cheated.

What comes around goes around...

In many cases, that money has not been taxed

You don't pay taxes on a capital gain until that gain is realized. So, if you paid a million for stocks and they are now worth ten million you do not pay taxes on the nine million profit until you sell

If you die. That ten million goes to your heirs

It's called risk...
Taxing risk makes no sense...

Of course it does

If the risk does not pay off, you are not taxed
if the risk pays off, you are

...you just don't understand.

The federal government has no skin in the game, why should they be rewarded??

We the people are rewarded

It is your entry fee into the game

 

[bripat9643]

What gives you the right to tax someone because they died?

The person who dies isn't getting taxed. The person that gets a windfall of income from the death is the one being taxed.

No because government takes their money before it goes from the dead person to the heirs.

If my father is worth a million dollars, and he passes that on to his children and grand children, we may each get about $70,000 a piece. If government comes along and takes half of that money first, then we are actually getting taxed at a much higher bracket for the money we are getting.

Government gets a much bigger cut from my fathers estate than his very own children. What's right about that?

That is not how it works. The money goes into an estate which is controlled by an executor named by the deceased in a will and is transferred on to the children, grand children and or whoever is named in a will by that executor after court approval Taxes are paid by the people receiving the inheritance after it has been given to them, but in the example you give no one would be paying taxes because the 5.43 million each individual receives is tax exempt. The amount is adjusted to inflation every year. This is a pesky little fact the anti estate tax folks like to ignore. The first 5 million plus is totally tax free, exempt and excluded from taxation. That means that if you inherit 6 million dollars you will only be required to pay a tax on less than $600,000 at the same rates and conditions as anyone else.

The federal government deserves nothing, no matter the size...

It's not their money to begin with... It's the individual's.

Taxation without representation is what the death tax is...

The 'individuals' have voted the government the authority to tax, and the elected representatives have been given the power to spend.

Therefore, some of your money does belong to the government. Legally.

A lynch mob has voted to string you up by the nearest tree. Apparently you believe that means you have no right to complain, right?

 

[Londoner]

Both the advanced industrial infrastructure and the postwar middle class - two things which separate us from 3rd world nations - come from progressive taxation. Consider some defining features of advanced economies with an upwardly mobile citizenship - things like The Hoover Dam and the satellite system and affordable education. These things don't come from the narrow accumulation of wealth.

Let me explain.

In the 20s there was no collection of businesses that could have afforded to build the Hoover Dam. The kind of capital and mobilization of labor/resources was beyond the scope of isolated corporations. And yet because of the Hoover Dam and the harnessing of the Colorado Tributary, we now have thriving profit centers in the Southwest. Same goes for the satellite system which came from the Cold War Pentagon and NASA programs. And let's not even talk about the system of roads, bridges, dams, energy grids and water works facilities that created the highest standard of living in world history. These things make profit possible in the first place. Most Republican news sources never talk about this stuff, which is why most low-information voters can only parakeet critic rejoinders about evil government. And let's not talk about the sheer amount of money it takes to expand/defend overseas markets. The expense for all this stuff is beyond the budget and rational interest of any isolated collection of corporations, yet the benefits to business and the population as a whole are precisely what separates us from 3rd world shit holes.

So yes - our postwar tax policy allowed great men like Eisenhower to build an advanced industrial nation for profit makers. The genius of Reagan's movement was that he preserved all the gifts big government gave to profit makers, while cutting everything it did to support the middle class. This slight of hand was coupled with a media bullhorn which has suppressed all talk of the benefits the wealthy suck from the state.

What a ruse! The Pentagon (i.e., tax payer) protects your overseas oil fields and ensures the stability of your global supply chains and trade routes, but you ***** about taxes and socialism. ******* brilliant.

 

[SAYIT]

In many cases, that money has not been taxed
You don't pay taxes on a capital gain until that gain is realized. So, if you paid a million for stocks and they are now worth ten million you do not pay taxes on the nine million profit until you sell. If you die. That ten million goes to your heirs

The inheritance tax is applied to the value of the stock at death (above the exemption) often forcing the beneficiaries to sell some or all of it to pay the tax (at which time the cap gains tax is also applied) but even if they have the cash to salvage some or all of the stock they still will pay income tax on any dividends and cap gains tax if and when they sell stock.
The tax man is not stupid ... there is no way around the taxes except by trust funding the asset.

Every time you give your kids money... Tax that money???

You are allowed to gift your children a certain amount every year ( I think it is like $40 k) above that they pay taxes

The number is $14,000 and while I'm a big fan of giving it to them while we're alive, there are ways to get around the inheritance tax ... trust funds for one.

 

[NYcarbineer]

The person who dies isn't getting taxed. The person that gets a windfall of income from the death is the one being taxed.

No because government takes their money before it goes from the dead person to the heirs.

If my father is worth a million dollars, and he passes that on to his children and grand children, we may each get about $70,000 a piece. If government comes along and takes half of that money first, then we are actually getting taxed at a much higher bracket for the money we are getting.

Government gets a much bigger cut from my fathers estate than his very own children. What's right about that?

That is not how it works. The money goes into an estate which is controlled by an executor named by the deceased in a will and is transferred on to the children, grand children and or whoever is named in a will by that executor after court approval Taxes are paid by the people receiving the inheritance after it has been given to them, but in the example you give no one would be paying taxes because the 5.43 million each individual receives is tax exempt. The amount is adjusted to inflation every year. This is a pesky little fact the anti estate tax folks like to ignore. The first 5 million plus is totally tax free, exempt and excluded from taxation. That means that if you inherit 6 million dollars you will only be required to pay a tax on less than $600,000 at the same rates and conditions as anyone else.

The federal government deserves nothing, no matter the size...

It's not their money to begin with... It's the individual's.

Taxation without representation is what the death tax is...

The 'individuals' have voted the government the authority to tax, and the elected representatives have been given the power to spend.

Therefore, some of your money does belong to the government. Legally.

A lynch mob has voted to string you up by the nearest tree. Apparently you believe that means you have no right to complain, right?

You're the dumbest **** on this board. Seriously.

 

[bripat9643]

An income tax is unconstitutional...

It is in the Constitution

I will repeat...
Income tax is unconstitutional because the sixteenth conferred no new power of taxation...

Dumb a$$

It is in the Constitution

If you disagree, find a court that agrees with you

Just because government says so... Makes it right???
To hell with that.

You're a good candidate to refuse to pay your taxes. Good luck using your USMB arguments to win in court.

This isn't a court of law, asshole. No one plans on using arguments from here in court. However, they can be used to get voters to wise up, which is exactly what you fear.

 

[rightwinger]

I'm just shocked that you have such a limited understanding of how business works.
Taxes are a cost of doing business.
When those costs rise the prices rise right along with them. Do you think the owner is just going to eat those costs?

I know perfectly well how business works, comrade

And taxes are not a cost of doing business since they pay taxes on profits (which is by definition income minus cost)

Also, businesses already maximize profit. If they could raise prices without consequences they would have already have done so, that's why I asked how higher taxes lead to higher prices for the consumer.

Yep, taxes on profits are how ticks on the ass of society steal from future generations. Profits are the seed corn for future production. Tax profits and you reduce corporate expansion and reduce the wealth of future generations.

God, how many times have we heard that one?

Very little of the profits go into corporate expansion. Those that do get written off. Most of the profit is used for dividends or held in reserve