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Thread: Obama to call for new tax increases in State of the Union address

  1. #431
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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by haymarket View Post
    double taxation!?!?!?!?!?!?!?!? Taxation is infinite and never ending.


    The money I get in my paycheck is taxed. I take it and go shopping and pay tax again. And the store keeper pays tax on the money he takes in from me. And when he spends that same money, it is taxed again. And so on down the line.

    This phony DOUBLE TAXATION argument is totally bogus.
    nope sales tax is a different tax altogether. we are referring to the federal government that has already taxed that money as income tax.
    now they are trying to tax that same money again when the person dies.

    it is nothing more than government theft and should be outlawed.

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by SlevinKelevra View Post
    nope not at all.

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by ludin View Post
    nope sales tax is a different tax altogether. we are referring to the federal government that has already taxed that money as income tax.
    now they are trying to tax that same money again when the person dies.

    it is nothing more than government theft and should be outlawed.
    There is no tax on death. The tax is on a transfer of money to a new owner.
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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by SlevinKelevra View Post
    Um,
    1) many people die with no estate at all

    2) under law, only about 2 people out of 1000 are subject to our dreaded "death tax" as they have no taxable estate wealth.
    Yes, this is true, many die with no estate at all. So?

    I don't know the percentage of people who die who have no taxable estate wealth. If they have no taxable estate, they have no death tax to pay. So?

    I see you were referring to someone with no value to their estate at all. They are subject to the Death Tax, but obviously would have no tax due.

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by ludin View Post
    nope not at all.
    you said the $ was already taxed. their article says 55% has income generated through unrealized capital gains and -- hence-- has never been taxed.

    feel free to disprove them, otherwise admit you were talking out of your rectum.

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by haymarket View Post
    There is no tax on death. The tax is on a transfer of money to a new owner.
    Filing Estate and Gift Tax Returns
    Generally, the estate tax return is due nine months after the date of death.

    wrong again.

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by ocean515 View Post
    Yes, this is true, many die with no estate at all. So?

    I don't know the percentage of people who die who have no taxable estate wealth. If they have no taxable estate, they have no death tax to pay. So?

    I see you were referring to someone with no value to their estate at all. They are subject to the Death Tax, but obviously would have no tax due.
    99.8 % of people have no taxable estate . So why is it the "death tax" if only .2% pay it?

    Seems a superduperpoopermajority don't pay a "death tax". The name is misleading and stupid, as was earlier pointed out

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by haymarket View Post
    It is intellectual fraud of the worst sort as here is no tax on death.
    LOL. It is intellectual fraud at best to suggest there is no tax death.

    I think the government would have a hard time collecting taxes on the value of someone's assets before they die. As it is, they have to wait until a qualified person checks the "Yep, Dead" box on a thing called a Death Certificate before they can knock on the door with their hand out.

    That's why it's known as a Death Tax. Get over it, or keep lying about it. Your choice.

    I really don't understand the insults and accusations over it.

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by ocean515 View Post
    Why do you keep perpetuating this lie? There is absolutely a death tax. The amount of the tax due can be mitigated by what happens to the dead person's estate, but the tax is due as a direct result of their death. Period, end of sentence. The court will allow a reasonable amount of time to figure out what the estate is worth, but it will demand an end to that time, and a check be written to the IRS based on the value at the time of the person's death, and in consideration of other stipulations the dead person may have had in their will.

    Why so obsessed with the term that you have to lie about it? Don't like the word or something? It's a death tax, deny it all you want, but that is exactly what it is.
    Except that the dead are exempt from all taxation and fines even criminal ones. The living whom the wealth is transferred to may owe tax on it since it is "new" income for them. That's why it is called inheritance tax. There is a substantial deduction that exempts the vast majority of estates from paying any tax. It is at least a million dollar deduction.
    Last edited by iguanaman; 01-19-15 at 05:46 PM.

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by ocean515 View Post
    LOL. It is intellectual fraud at best to suggest there is no tax death.

    I think the government would have a hard time collecting taxes on the value of someone's assets before they die. As it is, they have to wait until a qualified person checks the "Yep, Dead" box on a thing called a Death Certificate before they can knock on the door with their hand out.

    That's why it's known as a Death Tax. Get over it, or keep lying about it. Your choice.

    I really don't understand the insults and accusations over it.
    Can you point to me which law calls it the "Death Tax"?

    Or is that just something stupid that we call it, kinda like the "Obamaphone"?
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
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    I see a big problem with the idea that whatever the majority wants is OK.

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