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Thread: White House Tax Plan Would Ask More of Millionaires

  1. #1621
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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by washunut View Post
    This is probably going to amaze you but I agree that at a certain level there should be taxes on estates. From what I took out of your prior postings was that you wanted to confiscate all of whatever is left of my estate.
    I am glad we understand each other and have some common ground.
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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by upsideguy View Post
    No, its one of the most effective forms of taxation. Why concentrate capital with those that have not earned it? That seems so un-free enterprise...
    another moronic lie. the compliance and avoidance costs are higher than the revenues. its a most inefficient tax that was never designed to really raise revenue but was a progressive wet dream in the days before really progressive income taxes

    WTF did the government do to earn it and the people most affected by this parasitic tax are those who ALREADY PAY FAR MORE TAXES THAN THE REST OF THE COUNTRY

    I also note that the parasite mentality does not want to apply this tax to everyone even though the moronic argument of "not earning it" is even more applicable to people who don't pay much or any income tax



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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by EarlzP View Post
    If it is not employed professionals who do you think is
    the idiot wall street protestors



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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by washunut View Post
    Well sorry that fact gets in the way of a nice narrative but lets look at the richest people, Bill Gates, warren Buffet the guy from facebook even a lot of the hedge fund guys did not come from very rich families. Oh, Steve Jobs. Of course there are the people like Senator Kerry who married into the ketchup family and the Waltons from Wal-Mart.

    We have a bad few years, but people should not give up on the opportunities afforded in this great nation.
    There was an exhaustive article written about this very thing some time ago, in the NY Times, maybe I'll be able to find it tomorow. Anyway, it dealt with the fact that these people on the Forbes richest list ALLOWED themselves to be on this list. To put it another way, they are only legally the public's "richest" list. There is something to the tune of 2 trillion in value of holdings not reported, not in the US. For instance, the reporter found that there was a drug kingpin who would have actually made it into the top 30, or something like that, and then there were those who simply don't allow their holdings and net worth to be recorded for public record, as is their right to do so. And from the article, it was believed that these richest people come from old families. People who have ties back to europe, but moved here after the revolution. It was actually a good read. I'll see if I can dig it up.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by TurtleDude View Post
    another moronic lie. the compliance and avoidance costs are higher than the revenues. its a most inefficient tax that was never designed to really raise revenue but was a progressive wet dream in the days before really progressive income taxes

    WTF did the government do to earn it and the people most affected by this parasitic tax are those who ALREADY PAY FAR MORE TAXES THAN THE REST OF THE COUNTRY

    I also note that the parasite mentality does not want to apply this tax to everyone even though the moronic argument of "not earning it" is even more applicable to people who don't pay much or any income tax
    It was progressive the purpose wasn't to raise capital. It was the fact you basically had a US aristocracy forming and that was considered anti-Democratic. Drive through Rhode Island and check out the row of mansions that belonged to the moneyed class of the robber baron period. Most of these mansions were built by heir and heriess of mega fortunes that were passed down generations.

    I'm sorry, but when you have lots of capital it's realitively easy to gain more capital at a quick rate. Just the law of compound interests can prove that.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by haymarket View Post
    the value of those gifts would normally not qualify for an estate tax.
    Again, not yet. But again, history shows us that giving a mouse a cookie results in it asking for a glass of milk. And uncle sam doesn't ask, he demands. Once upon a time, therre was no income tax. Then there was. Then it became permanent. Then it went from 2% to the rates it is at now.

    My house today is worth maybe 180,000. Two years ago, when I bought it, I got it for 145,000. 45 years ago, this same house likely sold for 10 grand, or so. Imagine it's value, then, in another 45 years.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by TurtleDude View Post
    stop your bloodclot lying

    I post early in the morning-maybe a couple posts per week during lunch and at night
    Are you using a company computer to post at lunch time?

    usually after 7 though I took a couple hours of leave today and started earlier
    Be honest did you join the occupy demonstrators? Inquiring minds want to know

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by iliveonramen View Post
    It was progressive the purpose wasn't to raise capital. It was the fact you basically had a US aristocracy forming and that was considered anti-Democratic. Drive through Rhode Island and check out the row of mansions that belonged to the moneyed class of the robber baron period. Most of these mansions were built by heir and heriess of mega fortunes that were passed down generations.

    I'm sorry, but when you have lots of capital it's realitively easy to gain more capital at a quick rate. Just the law of compound interests can prove that.
    the dubious social engineering arguments for the death tax completely evaporated when the 16th Amendment was passed and massive confiscatory progressive tax rates were imposed at federal and state level



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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by EarlzP View Post
    Are you using a company computer to post at lunch time?



    Be honest did you join the occupy demonstrators? Inquiring minds want to know
    I live SW Ohio

    I can post on personal time. Do you have a job Earl?



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    Re: White House Tax Plan Would Ask More of Millionaires

    [QUOTE]
    Quote Originally Posted by KevinKohler View Post
    Again, not yet. But again, history shows us that giving a mouse a cookie results in it asking for a glass of milk. And uncle sam doesn't ask, he demands. Once upon a time, therre was no income tax. Then there was. Then it became permanent. Then it went from 2% to the rates it is at now.
    My house today is worth maybe 180,000. Two years ago, when I bought it, I got it for 145,000. 45 years ago, this same house likely sold for 10 grand, or so. Imagine it's value, then, in another 45 years.
    If jobs continue to leave the USA and the countries wealth continues upward your home will be worth less in 45 years

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