Trump lies shamelessly about his tax-cut plan.

[eddiew37]

And he keeps repeating how great it is Guess he knows his sheep will believe anything he says

I wish you knew something.

I know what the estate tax is Go back to school jc and not the reform school you must have been in

I'm happy for you. now show us how he isn't helping the middle class. provide the link from which you get your information.

The facts and figures are coming out albeit slowly Once more the lower end gets screwed and the 1% make out like republicans Over the next few days I'll be glad to show you all the facts and figures Just start with this Trump says he's not benefiting by this cut Yet there's a death tax cut where he makes out 4 billion$ worth You believe him at your own peril

Yeah, I'm seeing the same thing. It'll be interesting when places like Center for Tax Policy really dig through this. The poor inevitably get n benefit from cuts to federal income tax, because they pay no income tax. the Trumpbots will yell, but they don't pay tax." But of course, axing the estate tax is not part of income tax reform, so we're not even talking about "income" tax reform. And, OF course not only do the lower earners pay less prorgressive payroll and state taxes, but the EITC thing was a bipartisan issue.

Still, just looking at the 2/3's who do pay income taxes, the top 1% is coming out the best by far. And middle earners must choose to either take the larger standard deduction or keep their mortagage interest deduction.

No deduction for state and local taxes is like repubs giving the finger to blue states I'm in NY

 

[Conservative65]

we don't. so what are you going to do when you don't have the power to do anything? think I should do what you like? hahahahaahaha you are truly silly.

Of course you believe I'm silly, from your level of intelligence I suspect you think a shark attack or a plane crash is silly.

You're the kind that thinks giving someone through social welfare something they didn't earn and at a level more than they could if they worked is an incentive for them to get a job.

You're the kind that thought Obama being black was a qualification.

You're the last one to talk about low intelligence.

A single mother that works at Walmart making twenty grand a year gets the EITC, a child care tax credit, and food stamps. She does not want to work additional hours, she does not want to advance and the reason has nothing to do with her GETTING THOSE BENEFITS. The problem, for every additional dollar she could make she pays taxes and she loses benefits. When the dust settles, well she gets to keep FIFTEEN FAWKING CENTS on the dollar. That's an 85% marginal tax rate.

So here is the deal, if you expect those single mothers to "pull themselves up by their bootstraps" while facing an 85% marginal tax rate then you should have no problem whatsoever with a 45% tax rate for the wealthy.

Just more excuses for that leg spreader that should get the one she let stick it in her and help produce the children you think the rest of us are responsible for supporting help her.

She doesn't have an 85% marginal tax rate. Her income tax liability is zero. If you're going to make up things, at least try to make it realistic.

I expect people pull themselves up because it's the right thing to do. If she wants to be where those of you think should be forced to support her are, it involves wanting to advance and working additional hours. Anyone that doesn't want to do more to do better deserves to be where they are and do without.

The marginal tax rate represents the total increase in taxes and/or loss of government benefits for each additional dollar of earnings. For example, a marginal tax rate of 30 percent means that each additional dollar of income will cause a lossof 30 cents through higher taxes and/or lower benefits.

Policymakers Often Overstate Marginal Tax Rates for Lower-Income Workers and Gloss Over Tough Trade-Offs in Reducing Them

You are entitled to your own opinion, you are NOT entitled to your own FACTS. It is called the "phase down", and yes, many of the working poor face 85% marginal tax rates when the phase down is incorporated into the calculations.

Ih other words you want to make more but keep getting their freeloading benefits, too?

 

[Conservative65]

Feeble attempt bud....You're either desperately confused and self manipulated or you're just plain stupid.
You describe problems within our welfare system...this has little to do with tax code....but you're kinda right....Guadalupe and ShaQuita with four babies and three baby daddy's should not receive the amount of welfare benefits they do as there is no incentive for them to work more and earn more through employment. Can't wait for Donny T to get in there and start his welfare reform...it's gonna get good...grab your popcorn....haha

The lack of incentive has nothing to do with the AMOUNT of the benefits and everything to do about the PUNISHMENT of losing those benefits if they would take on additional work. Hell, the 85% rate was conservative. In some cases, it can exceed ONE HUNDRED PERCENT. Honestly, it takes a totally hypocritical DIPSHIT to advocate cutting taxes on the wealthy because it will spur them to invest and ignore the absurdly high marginal tax rates faced by the poor.

Americans' 90% tax rate - CNN

Again...you're in the wrong thread. You have an issue with the welfare system...not tax code...you're trying your best to get lost in the arithmetic by tying the two together...that's what LefTards do, they love confusion.
Using your flawed theory:
Guadalupe enjoys a negative effective tax rate on the first 20k she earns...on the next 5k she earns she may pay as much as an 85% effective rate due to the effect the extra income has on her overall welfare benefits. This is a welfare issue. You see, she's overly subsidized by taxpayers to begin with...that's all. Simple shit...allow to be.

Q. Is she subsidized or are Wal-Mart and the Walton Children?

Well, if I had my head in my ass I would say the Waltons are subsidized. Since I do not I'd say Guadalupe applied for and accepted a job knowing it would not pay enough to pay for HER poor decision making. Simple shit for the sane to wrap their head around...you want more....******* DO MORE!
Get educated and get your shit right....don't **** yourself and American taxpayers and have four babies with three worthless baby daddy's. Follow this simple principle and prevent yourself from becoming a human pet to taxpayers....TA-DA!
What else can I teach you?

Wow, are you guys this damn stupid. You want more, ******* DO MORE, except in this case sometimes doing more means GETTING LESS, and at best, it means giving up eighty five cents of every dollar.

They're not giving up 85 cents on the dollar. That is a false narrative. Seems you support freeloaders continuing to be freeloaders and not doing anything to better themselves. If that's the case, let them ******* starve.

 

[jc456]

I wish you knew something.

I know what the estate tax is Go back to school jc and not the reform school you must have been in

I'm happy for you. now show us how he isn't helping the middle class. provide the link from which you get your information.

The facts and figures are coming out albeit slowly Once more the lower end gets screwed and the 1% make out like republicans Over the next few days I'll be glad to show you all the facts and figures Just start with this Trump says he's not benefiting by this cut Yet there's a death tax cut where he makes out 4 billion$ worth You believe him at your own peril

Yeah, I'm seeing the same thing. It'll be interesting when places like Center for Tax Policy really dig through this. The poor inevitably get n benefit from cuts to federal income tax, because they pay no income tax. the Trumpbots will yell, but they don't pay tax." But of course, axing the estate tax is not part of income tax reform, so we're not even talking about "income" tax reform. And, OF course not only do the lower earners pay less prorgressive payroll and state taxes, but the EITC thing was a bipartisan issue.

Still, just looking at the 2/3's who do pay income taxes, the top 1% is coming out the best by far. And middle earners must choose to either take the larger standard deduction or keep their mortagage interest deduction.

No deduction for state and local taxes is like repubs giving the finger to blue states I'm in NY

right cause they've been giving it to the states that don't have those taxes for quite a long time. you know this right?

 

[jc456]

Of course you believe I'm silly, from your level of intelligence I suspect you think a shark attack or a plane crash is silly.

You're the kind that thinks giving someone through social welfare something they didn't earn and at a level more than they could if they worked is an incentive for them to get a job.

You're the kind that thought Obama being black was a qualification.

You're the last one to talk about low intelligence.

A single mother that works at Walmart making twenty grand a year gets the EITC, a child care tax credit, and food stamps. She does not want to work additional hours, she does not want to advance and the reason has nothing to do with her GETTING THOSE BENEFITS. The problem, for every additional dollar she could make she pays taxes and she loses benefits. When the dust settles, well she gets to keep FIFTEEN FAWKING CENTS on the dollar. That's an 85% marginal tax rate.

So here is the deal, if you expect those single mothers to "pull themselves up by their bootstraps" while facing an 85% marginal tax rate then you should have no problem whatsoever with a 45% tax rate for the wealthy.

Just more excuses for that leg spreader that should get the one she let stick it in her and help produce the children you think the rest of us are responsible for supporting help her.

She doesn't have an 85% marginal tax rate. Her income tax liability is zero. If you're going to make up things, at least try to make it realistic.

I expect people pull themselves up because it's the right thing to do. If she wants to be where those of you think should be forced to support her are, it involves wanting to advance and working additional hours. Anyone that doesn't want to do more to do better deserves to be where they are and do without.

The marginal tax rate represents the total increase in taxes and/or loss of government benefits for each additional dollar of earnings. For example, a marginal tax rate of 30 percent means that each additional dollar of income will cause a lossof 30 cents through higher taxes and/or lower benefits.

Policymakers Often Overstate Marginal Tax Rates for Lower-Income Workers and Gloss Over Tough Trade-Offs in Reducing Them

You are entitled to your own opinion, you are NOT entitled to your own FACTS. It is called the "phase down", and yes, many of the working poor face 85% marginal tax rates when the phase down is incorporated into the calculations.

What they lose in benefits doesn't apply. They should lose benefits if they're making more. Isn't that what you lefties said that people want to do better?

he wants them to make more money, not get off the dole. the idea is to wean them off the welfare making their own money. saving tax payers. even if what they make at that time is the same dollar amount. wow.

 

[BluesLegend]

What does it matter to you? Why the random 5 million? What makes you think that's some magical number that after that the government deserves? How about we set the limit to something you can afford. Let's say anything over 100k. Why not right? Some will never get to pass on that amount so it seems fair.

Who pays the estate tax?

The Tax Policy Center estimates that some 11,310 individuals dying in 2017 will leave estates large enough to require filing an estate tax return (estates with a gross value under $5.49 million need not file this return in 2017). After allowing for deductions and credits, 5,460 estates will owe tax. Over two-thirds of these taxable estates will come from the top 10 percent of income earners and close to one-fourth will come from the top 1 percent alone.

So they should be punished by an estate tax? Go ahead explain why wealth that was already taxed should be unfairly taxed a 2nd time, you can't.

Most of the value of estates subject to the estate tax are capital gains that have not been taxed. And current law includes a "step-up" that allows the heirs to avoid the payment of taxes on those capital gains by having the cost basis of that capital "stepped up" to it's current market value. The classic example, George Steinbrenner and the New York Yankees. George died in 2010, a unique year that allowed his family to choose between paying the estate tax and getting the step-up or losing the step-up and eliminating the estate tax. With a close two ONE BILLION DOLLAR capital gain in regards to the Yankees it was a no-brainer. They paid the estate taxes.

Now here is the real kicker. Less than six thousand estates were subject to the estate tax last year. But millions, probably tens of millions of individuals benefited from the step-up. When the estate tax is eliminated the step up is eliminated as well. So when you inherit your parents home,that they paid twenty thousand dollars for sixty years ago and it is worth three hundred and twenty thousand dollars now, you will be facing a capital gains tax on three hundred thousand dollars when and if you sell the home. This proposal absolutely DESTROYS the middle class. You best wake up and smell the coffee.

Ah, you don't know what capital gains are or how they are taxed while also ignoring the estate tax slams everything not just he capital gains.

Blues, I'm wore out trying to explain that to that pup.

I like how the poster vomited a slew of liberal hate the rich talking points, when the left go full retard I know we won the debate.

 

[eddiew37]

Who pays the estate tax?

The Tax Policy Center estimates that some 11,310 individuals dying in 2017 will leave estates large enough to require filing an estate tax return (estates with a gross value under $5.49 million need not file this return in 2017). After allowing for deductions and credits, 5,460 estates will owe tax. Over two-thirds of these taxable estates will come from the top 10 percent of income earners and close to one-fourth will come from the top 1 percent alone.

So they should be punished by an estate tax? Go ahead explain why wealth that was already taxed should be unfairly taxed a 2nd time, you can't.

Most of the value of estates subject to the estate tax are capital gains that have not been taxed. And current law includes a "step-up" that allows the heirs to avoid the payment of taxes on those capital gains by having the cost basis of that capital "stepped up" to it's current market value. The classic example, George Steinbrenner and the New York Yankees. George died in 2010, a unique year that allowed his family to choose between paying the estate tax and getting the step-up or losing the step-up and eliminating the estate tax. With a close two ONE BILLION DOLLAR capital gain in regards to the Yankees it was a no-brainer. They paid the estate taxes.

Now here is the real kicker. Less than six thousand estates were subject to the estate tax last year. But millions, probably tens of millions of individuals benefited from the step-up. When the estate tax is eliminated the step up is eliminated as well. So when you inherit your parents home,that they paid twenty thousand dollars for sixty years ago and it is worth three hundred and twenty thousand dollars now, you will be facing a capital gains tax on three hundred thousand dollars when and if you sell the home. This proposal absolutely DESTROYS the middle class. You best wake up and smell the coffee.

Ah, you don't know what capital gains are or how they are taxed while also ignoring the estate tax slams everything not just he capital gains.

LMAO, I have forgotten more about capital gains, tax rates, and especially the estate tax, than you will ever know. Estate planning is my business buckwheat.

You suck at it, anything else?

the first 11 million goes untouched if you're married

 

[jc456]

So they should be punished by an estate tax? Go ahead explain why wealth that was already taxed should be unfairly taxed a 2nd time, you can't.

Most of the value of estates subject to the estate tax are capital gains that have not been taxed. And current law includes a "step-up" that allows the heirs to avoid the payment of taxes on those capital gains by having the cost basis of that capital "stepped up" to it's current market value. The classic example, George Steinbrenner and the New York Yankees. George died in 2010, a unique year that allowed his family to choose between paying the estate tax and getting the step-up or losing the step-up and eliminating the estate tax. With a close two ONE BILLION DOLLAR capital gain in regards to the Yankees it was a no-brainer. They paid the estate taxes.

Now here is the real kicker. Less than six thousand estates were subject to the estate tax last year. But millions, probably tens of millions of individuals benefited from the step-up. When the estate tax is eliminated the step up is eliminated as well. So when you inherit your parents home,that they paid twenty thousand dollars for sixty years ago and it is worth three hundred and twenty thousand dollars now, you will be facing a capital gains tax on three hundred thousand dollars when and if you sell the home. This proposal absolutely DESTROYS the middle class. You best wake up and smell the coffee.

Ah, you don't know what capital gains are or how they are taxed while also ignoring the estate tax slams everything not just he capital gains.

LMAO, I have forgotten more about capital gains, tax rates, and especially the estate tax, than you will ever know. Estate planning is my business buckwheat.

You suck at it, anything else?

the first 11 million goes untouched if you're married

use a trust before they pass.

 

[BluesLegend]

So they should be punished by an estate tax? Go ahead explain why wealth that was already taxed should be unfairly taxed a 2nd time, you can't.

Most of the value of estates subject to the estate tax are capital gains that have not been taxed. And current law includes a "step-up" that allows the heirs to avoid the payment of taxes on those capital gains by having the cost basis of that capital "stepped up" to it's current market value. The classic example, George Steinbrenner and the New York Yankees. George died in 2010, a unique year that allowed his family to choose between paying the estate tax and getting the step-up or losing the step-up and eliminating the estate tax. With a close two ONE BILLION DOLLAR capital gain in regards to the Yankees it was a no-brainer. They paid the estate taxes.

Now here is the real kicker. Less than six thousand estates were subject to the estate tax last year. But millions, probably tens of millions of individuals benefited from the step-up. When the estate tax is eliminated the step up is eliminated as well. So when you inherit your parents home,that they paid twenty thousand dollars for sixty years ago and it is worth three hundred and twenty thousand dollars now, you will be facing a capital gains tax on three hundred thousand dollars when and if you sell the home. This proposal absolutely DESTROYS the middle class. You best wake up and smell the coffee.

Ah, you don't know what capital gains are or how they are taxed while also ignoring the estate tax slams everything not just he capital gains.

LMAO, I have forgotten more about capital gains, tax rates, and especially the estate tax, than you will ever know. Estate planning is my business buckwheat.

You suck at it, anything else?

the first 11 million goes untouched if you're married

That's nothing in this day and age, many farms and small businesses exceed that.

 

[Conservative65]

You're the kind that thinks giving someone through social welfare something they didn't earn and at a level more than they could if they worked is an incentive for them to get a job.

You're the kind that thought Obama being black was a qualification.

You're the last one to talk about low intelligence.

A single mother that works at Walmart making twenty grand a year gets the EITC, a child care tax credit, and food stamps. She does not want to work additional hours, she does not want to advance and the reason has nothing to do with her GETTING THOSE BENEFITS. The problem, for every additional dollar she could make she pays taxes and she loses benefits. When the dust settles, well she gets to keep FIFTEEN FAWKING CENTS on the dollar. That's an 85% marginal tax rate.

So here is the deal, if you expect those single mothers to "pull themselves up by their bootstraps" while facing an 85% marginal tax rate then you should have no problem whatsoever with a 45% tax rate for the wealthy.

Just more excuses for that leg spreader that should get the one she let stick it in her and help produce the children you think the rest of us are responsible for supporting help her.

She doesn't have an 85% marginal tax rate. Her income tax liability is zero. If you're going to make up things, at least try to make it realistic.

I expect people pull themselves up because it's the right thing to do. If she wants to be where those of you think should be forced to support her are, it involves wanting to advance and working additional hours. Anyone that doesn't want to do more to do better deserves to be where they are and do without.

The marginal tax rate represents the total increase in taxes and/or loss of government benefits for each additional dollar of earnings. For example, a marginal tax rate of 30 percent means that each additional dollar of income will cause a lossof 30 cents through higher taxes and/or lower benefits.

Policymakers Often Overstate Marginal Tax Rates for Lower-Income Workers and Gloss Over Tough Trade-Offs in Reducing Them

You are entitled to your own opinion, you are NOT entitled to your own FACTS. It is called the "phase down", and yes, many of the working poor face 85% marginal tax rates when the phase down is incorporated into the calculations.

What they lose in benefits doesn't apply. They should lose benefits if they're making more. Isn't that what you lefties said that people want to do better?

he wants them to make more money, not get off the dole. the idea is to wean them off the welfare making their own money. saving tax payers. even if what they make at that time is the same dollar amount. wow.

Isn't that what the left said them making more would do, get them off the dole?

One would think they would want to be contributors to society not constant takers from it.

 

[eddiew37]

Most of the value of estates subject to the estate tax are capital gains that have not been taxed. And current law includes a "step-up" that allows the heirs to avoid the payment of taxes on those capital gains by having the cost basis of that capital "stepped up" to it's current market value. The classic example, George Steinbrenner and the New York Yankees. George died in 2010, a unique year that allowed his family to choose between paying the estate tax and getting the step-up or losing the step-up and eliminating the estate tax. With a close two ONE BILLION DOLLAR capital gain in regards to the Yankees it was a no-brainer. They paid the estate taxes.

Now here is the real kicker. Less than six thousand estates were subject to the estate tax last year. But millions, probably tens of millions of individuals benefited from the step-up. When the estate tax is eliminated the step up is eliminated as well. So when you inherit your parents home,that they paid twenty thousand dollars for sixty years ago and it is worth three hundred and twenty thousand dollars now, you will be facing a capital gains tax on three hundred thousand dollars when and if you sell the home. This proposal absolutely DESTROYS the middle class. You best wake up and smell the coffee.

Ah, you don't know what capital gains are or how they are taxed while also ignoring the estate tax slams everything not just he capital gains.

LMAO, I have forgotten more about capital gains, tax rates, and especially the estate tax, than you will ever know. Estate planning is my business buckwheat.

You suck at it, anything else?

the first 11 million goes untouched if you're married

That's nothing in this day and age, many farms and small businesses exceed that.

I'd like to see that I just can't believe it I had a small business for 40 or so years Averaged about 2 mill in sales a year Wasn't worth close to 11 million,,Ended up renting it

 

[Winston]

Who pays the estate tax?

The Tax Policy Center estimates that some 11,310 individuals dying in 2017 will leave estates large enough to require filing an estate tax return (estates with a gross value under $5.49 million need not file this return in 2017). After allowing for deductions and credits, 5,460 estates will owe tax. Over two-thirds of these taxable estates will come from the top 10 percent of income earners and close to one-fourth will come from the top 1 percent alone.

So they should be punished by an estate tax? Go ahead explain why wealth that was already taxed should be unfairly taxed a 2nd time, you can't.

Most of the value of estates subject to the estate tax are capital gains that have not been taxed. And current law includes a "step-up" that allows the heirs to avoid the payment of taxes on those capital gains by having the cost basis of that capital "stepped up" to it's current market value. The classic example, George Steinbrenner and the New York Yankees. George died in 2010, a unique year that allowed his family to choose between paying the estate tax and getting the step-up or losing the step-up and eliminating the estate tax. With a close two ONE BILLION DOLLAR capital gain in regards to the Yankees it was a no-brainer. They paid the estate taxes.

Now here is the real kicker. Less than six thousand estates were subject to the estate tax last year. But millions, probably tens of millions of individuals benefited from the step-up. When the estate tax is eliminated the step up is eliminated as well. So when you inherit your parents home,that they paid twenty thousand dollars for sixty years ago and it is worth three hundred and twenty thousand dollars now, you will be facing a capital gains tax on three hundred thousand dollars when and if you sell the home. This proposal absolutely DESTROYS the middle class. You best wake up and smell the coffee.

Ah, you don't know what capital gains are or how they are taxed while also ignoring the estate tax slams everything not just he capital gains.

LMAO, I have forgotten more about capital gains, tax rates, and especially the estate tax, than you will ever know. Estate planning is my business buckwheat.

You suck at it, anything else?

Most of the value of estates subject to the estate tax are capital gains that have not been taxed. And current law includes a "step-up" that allows the heirs to avoid the payment of taxes on those capital gains by having the cost basis of that capital "stepped up" to it's current market value. The classic example, George Steinbrenner and the New York Yankees. George died in 2010, a unique year that allowed his family to choose between paying the estate tax and getting the step-up or losing the step-up and eliminating the estate tax. With a close two ONE BILLION DOLLAR capital gain in regards to the Yankees it was a no-brainer. They paid the estate taxes.

Now here is the real kicker. Less than six thousand estates were subject to the estate tax last year. But millions, probably tens of millions of individuals benefited from the step-up. When the estate tax is eliminated the step up is eliminated as well. So when you inherit your parents home,that they paid twenty thousand dollars for sixty years ago and it is worth three hundred and twenty thousand dollars now, you will be facing a capital gains tax on three hundred thousand dollars when and if you sell the home. This proposal absolutely DESTROYS the middle class. You best wake up and smell the coffee.

Ah, you don't know what capital gains are or how they are taxed while also ignoring the estate tax slams everything not just he capital gains.

LMAO, I have forgotten more about capital gains, tax rates, and especially the estate tax, than you will ever know. Estate planning is my business buckwheat.

You suck at it, anything else?

the first 11 million goes untouched if you're married

That's nothing in this day and age, many farms and small businesses exceed that.

How many family farms and businesses were subject to the estate tax in 2015?

 

[bendog]

I wish you knew something.

I know what the estate tax is Go back to school jc and not the reform school you must have been in

I'm happy for you. now show us how he isn't helping the middle class. provide the link from which you get your information.

The facts and figures are coming out albeit slowly Once more the lower end gets screwed and the 1% make out like republicans Over the next few days I'll be glad to show you all the facts and figures Just start with this Trump says he's not benefiting by this cut Yet there's a death tax cut where he makes out 4 billion$ worth You believe him at your own peril

Yeah, I'm seeing the same thing. It'll be interesting when places like Center for Tax Policy really dig through this. The poor inevitably get n benefit from cuts to federal income tax, because they pay no income tax. the Trumpbots will yell, but they don't pay tax." But of course, axing the estate tax is not part of income tax reform, so we're not even talking about "income" tax reform. And, OF course not only do the lower earners pay less prorgressive payroll and state taxes, but the EITC thing was a bipartisan issue.

Still, just looking at the 2/3's who do pay income taxes, the top 1% is coming out the best by far. And middle earners must choose to either take the larger standard deduction or keep their mortagage interest deduction.

No deduction for state and local taxes is like repubs giving the finger to blue states I'm in NY

It's yer fault fer living in a blue state. (-: Actually, I think even I will be screwed since Mrs. Dog itemizes to get that dediuction as well an the mortagage interest deduction.

But Trump has to get the money to end 1% onerous taxes on estates and the AMT.

 

[eddiew37]

So they should be punished by an estate tax? Go ahead explain why wealth that was already taxed should be unfairly taxed a 2nd time, you can't.

Most of the value of estates subject to the estate tax are capital gains that have not been taxed. And current law includes a "step-up" that allows the heirs to avoid the payment of taxes on those capital gains by having the cost basis of that capital "stepped up" to it's current market value. The classic example, George Steinbrenner and the New York Yankees. George died in 2010, a unique year that allowed his family to choose between paying the estate tax and getting the step-up or losing the step-up and eliminating the estate tax. With a close two ONE BILLION DOLLAR capital gain in regards to the Yankees it was a no-brainer. They paid the estate taxes.

Now here is the real kicker. Less than six thousand estates were subject to the estate tax last year. But millions, probably tens of millions of individuals benefited from the step-up. When the estate tax is eliminated the step up is eliminated as well. So when you inherit your parents home,that they paid twenty thousand dollars for sixty years ago and it is worth three hundred and twenty thousand dollars now, you will be facing a capital gains tax on three hundred thousand dollars when and if you sell the home. This proposal absolutely DESTROYS the middle class. You best wake up and smell the coffee.

Ah, you don't know what capital gains are or how they are taxed while also ignoring the estate tax slams everything not just he capital gains.

LMAO, I have forgotten more about capital gains, tax rates, and especially the estate tax, than you will ever know. Estate planning is my business buckwheat.

You suck at it, anything else?

Ah, you don't know what capital gains are or how they are taxed while also ignoring the estate tax slams everything not just he capital gains.

LMAO, I have forgotten more about capital gains, tax rates, and especially the estate tax, than you will ever know. Estate planning is my business buckwheat.

You suck at it, anything else?

the first 11 million goes untouched if you're married

That's nothing in this day and age, many farms and small businesses exceed that.

How many family farms and businesses were subject to the estate tax in 2015?

500 is my guess maybe 550 Are there prizes for the best guess?

 

[Winston]

Most of the value of estates subject to the estate tax are capital gains that have not been taxed. And current law includes a "step-up" that allows the heirs to avoid the payment of taxes on those capital gains by having the cost basis of that capital "stepped up" to it's current market value. The classic example, George Steinbrenner and the New York Yankees. George died in 2010, a unique year that allowed his family to choose between paying the estate tax and getting the step-up or losing the step-up and eliminating the estate tax. With a close two ONE BILLION DOLLAR capital gain in regards to the Yankees it was a no-brainer. They paid the estate taxes.

Now here is the real kicker. Less than six thousand estates were subject to the estate tax last year. But millions, probably tens of millions of individuals benefited from the step-up. When the estate tax is eliminated the step up is eliminated as well. So when you inherit your parents home,that they paid twenty thousand dollars for sixty years ago and it is worth three hundred and twenty thousand dollars now, you will be facing a capital gains tax on three hundred thousand dollars when and if you sell the home. This proposal absolutely DESTROYS the middle class. You best wake up and smell the coffee.

Ah, you don't know what capital gains are or how they are taxed while also ignoring the estate tax slams everything not just he capital gains.

LMAO, I have forgotten more about capital gains, tax rates, and especially the estate tax, than you will ever know. Estate planning is my business buckwheat.

You suck at it, anything else?

the first 11 million goes untouched if you're married

use a trust before they pass.

Hence the truism, the estate tax is the only tax that is completely voluntary. Why would we eliminate a completely voluntary tax?

 

[eddiew37]

I know what the estate tax is Go back to school jc and not the reform school you must have been in

I'm happy for you. now show us how he isn't helping the middle class. provide the link from which you get your information.

The facts and figures are coming out albeit slowly Once more the lower end gets screwed and the 1% make out like republicans Over the next few days I'll be glad to show you all the facts and figures Just start with this Trump says he's not benefiting by this cut Yet there's a death tax cut where he makes out 4 billion$ worth You believe him at your own peril

Yeah, I'm seeing the same thing. It'll be interesting when places like Center for Tax Policy really dig through this. The poor inevitably get n benefit from cuts to federal income tax, because they pay no income tax. the Trumpbots will yell, but they don't pay tax." But of course, axing the estate tax is not part of income tax reform, so we're not even talking about "income" tax reform. And, OF course not only do the lower earners pay less prorgressive payroll and state taxes, but the EITC thing was a bipartisan issue.

Still, just looking at the 2/3's who do pay income taxes, the top 1% is coming out the best by far. And middle earners must choose to either take the larger standard deduction or keep their mortagage interest deduction.

No deduction for state and local taxes is like repubs giving the finger to blue states I'm in NY

It's yer fault fer living in a blue state. (-: Actually, I think even I will be screwed since Mrs. Dog itemizes to get that dediuction as well an the mortagage interest deduction.

But Trump has to get the money to end 1% onerous taxes on estates and the AMT.

Ya hear Price is out?

 

[Winston]

Most of the value of estates subject to the estate tax are capital gains that have not been taxed. And current law includes a "step-up" that allows the heirs to avoid the payment of taxes on those capital gains by having the cost basis of that capital "stepped up" to it's current market value. The classic example, George Steinbrenner and the New York Yankees. George died in 2010, a unique year that allowed his family to choose between paying the estate tax and getting the step-up or losing the step-up and eliminating the estate tax. With a close two ONE BILLION DOLLAR capital gain in regards to the Yankees it was a no-brainer. They paid the estate taxes.

Now here is the real kicker. Less than six thousand estates were subject to the estate tax last year. But millions, probably tens of millions of individuals benefited from the step-up. When the estate tax is eliminated the step up is eliminated as well. So when you inherit your parents home,that they paid twenty thousand dollars for sixty years ago and it is worth three hundred and twenty thousand dollars now, you will be facing a capital gains tax on three hundred thousand dollars when and if you sell the home. This proposal absolutely DESTROYS the middle class. You best wake up and smell the coffee.

Ah, you don't know what capital gains are or how they are taxed while also ignoring the estate tax slams everything not just he capital gains.

LMAO, I have forgotten more about capital gains, tax rates, and especially the estate tax, than you will ever know. Estate planning is my business buckwheat.

You suck at it, anything else?

LMAO, I have forgotten more about capital gains, tax rates, and especially the estate tax, than you will ever know. Estate planning is my business buckwheat.

You suck at it, anything else?

the first 11 million goes untouched if you're married

That's nothing in this day and age, many farms and small businesses exceed that.

How many family farms and businesses were subject to the estate tax in 2015?

500 is my guess maybe 550 Are there prizes for the best guess?

Your guess is over by one thousand percent. Less than fifty in 2017. Around 20 in 2015.

 

[Conservative65]

Ah, you don't know what capital gains are or how they are taxed while also ignoring the estate tax slams everything not just he capital gains.

LMAO, I have forgotten more about capital gains, tax rates, and especially the estate tax, than you will ever know. Estate planning is my business buckwheat.

You suck at it, anything else?

the first 11 million goes untouched if you're married

That's nothing in this day and age, many farms and small businesses exceed that.

I'd like to see that I just can't believe it I had a small business for 40 or so years Averaged about 2 mill in sales a year Wasn't worth close to 11 million,,Ended up renting it

Yet no proof of your claim. Damn you guys look good on the internet when all you have to do is say things you can't prove.

 

[Lakhota]

TRUMP’S TAX PLAN: THE JOKE’S ON US

Trump’s Tax Plan Is An Act Of Political Domination By The Wealthy

Yep, the joke's on us.

 

[eddiew37]

Ah, you don't know what capital gains are or how they are taxed while also ignoring the estate tax slams everything not just he capital gains.

LMAO, I have forgotten more about capital gains, tax rates, and especially the estate tax, than you will ever know. Estate planning is my business buckwheat.

You suck at it, anything else?

You suck at it, anything else?

the first 11 million goes untouched if you're married

That's nothing in this day and age, many farms and small businesses exceed that.

How many family farms and businesses were subject to the estate tax in 2015?

500 is my guess maybe 550 Are there prizes for the best guess?

Your guess is over by one thousand percent. Less than fifty in 2017. Around 20 in 2015.

All those farms and small businesses boo hoo boo hoo But trump will save billions If he dies soon I guess I won't complain