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

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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
    ahh yes the old stock argument.

    they pay taxes on the stock if it is withdrawn or if it is cashed in.
    they have also paid tax on any dividends that they receive.

    if you leave someone stock then they are not taxed on that stock until they cash it in, but are responsible for any income taxes they earn from dividends.
    which is what most people end up doing.

    see I don't have to lower myself to your level to realize that death taxes is nothing but government robbery.
    why is it that liberals are so aggressive about taking something that doesn't belong to them?

    jealous much?
    lack of citations much?

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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
    The estate owes the tax. There could be no living people who are beneficiaries of the estate. You really don't have a clue about this subject do you? It's really showing.
    If there are no beneficiaries the entire estate goes to the State. That has nothing to do with the inheritance tax.

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

    Quote Originally Posted by imagep View Post
    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"?
    I'm sure they probably use Estate Tax as a reference. As has been seen and proven on this thread, people get all twitchy when Death Tax is used. I would think the better analogy is when the left ignores Illegal Alien and invents Undocumented Immigrant because it meets the current PC litmus test. They go even further and demand only Undocumented Immigrant be used, when Illegal Alien is the proper reference.

    So, Estate Tax, but it's really Death Tax, cause to qualify, you must die.

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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
    it deals with everything you said. it deals with the fact that it has to be filed within 6 months of the persons death. it could be locked up in probate for years for whatever reason
    yet it still has to be filed before anyone else gets a dime.
    Quote Originally Posted by ludin View Post
    Filing Estate and Gift Tax Returns
    Generally, the estate tax return is due nine months after the date of death.

    wrong again.



    hmmmmmmmmmmmm

    fascinating.

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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
    I'm sure they probably use Estate Tax as a reference. As has been seen and proven on this thread, people get all twitchy when Death Tax is used. I would think the better analogy is when the left ignores Illegal Alien and invents Undocumented Immigrant because it meets the current PC litmus test. They go even further and demand only Undocumented Immigrant be used, when Illegal Alien is the proper reference.

    So, Estate Tax, but it's really Death Tax, cause to qualify, you must die.

    To be fair, a great # of "illegal aliens" are minors who are not in the capacity physically or mentally to control their situation. Attributing criminality to them seems intellectually dishonest. Same way you don't see 2 year olds who accidentally shoot someone with dad's unlocked gun charged with felony murder.

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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
    it deals with everything you said. it deals with the fact that it has to be filed within 6 months of the persons death. it could be locked up in probate for years for whatever reason
    yet it still has to be filed before anyone else gets a dime.
    Wrong. Creditors can and must be paid before probate. Probate is the division of the estate to the beneficiaries who are taxed if the amount exceeds the deduction.

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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
    No - that is not why it is called a death tax.



    It is a dishonest political term used by political people to gain political advantage to benefit themselves in a public policy dispute.
    No, Frank Luntz didn't invent death.

    To qualify for the Death Tax, one must die. That's why it's called a death tax. If you're not dead, don't worry about it.

    However, if you are dead, I'd recommend you contact someone quickly, because they usually only allow you about 9 months to pay up, although all the various jumping through hoops stuff can extend that longer.

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


    I repeat:
    All this back-and-forth aside, raising taxes in a frail anemic recovery is a recipe for killing that recovery. THAT is a FACT. . . PERIOD

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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
    How about : the larger than $5M inheritance tax.
    No, that wouldn't do it. The tax is not always related to inheritance. There is a tax on the value of the estate at the time of the death of the decedent. That's why there is an area of law and a practice of law related to Estate Taxes. My lovely wife is one of those people who practice in that area of law. I have been, and currently am, a trustee for a number of estates. I'm somewhat in my comfort zone on this topic.

    You could call it the Death Tax for Estates greater than _________. And just leave it blank, since people are jacking with the value all the time. Could save on printing.

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

    Quote Originally Posted by iguanaman View Post
    If there are no beneficiaries the entire estate goes to the State. That has nothing to do with the inheritance tax.
    Beneficiaries don't have to be living. It could go to a school, or anywhere. The decedent could demand the estate be converted to cash, and the entire sum burned in a legal manner. The estate would still owe the taxes on the taxable value.

    Again, it appears you're compelled to comment based on nothing but an ideological/emotional belief, rather than fact. Perhaps you should reconsider doing so.

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