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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 Conservative View Post
    The 47% Romney talked about came from IRS data, where else should it come from?
    The 47% are the 47% because money doesn't trickle-down. The bottom 50% only possess 2% of the nation's wealth.
    Last edited by Napoleon; 01-21-15 at 12:25 AM.

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

    Quote Originally Posted by jmotivator View Post
    The average over that 7 years was still well above average, the private GDP eventually catching up to the federal spending doesn't prove your point.
    Private GDP? LOL....we were discussing US GDP, which includes G, if G declined as GDP gains were realized, the gains could not come from a declining contribution.

    Please...stop.
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    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
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    When it comes down to it, all facts are cherry picked.
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    He didn't say it didn't make sense. He said it is complete nonsense.

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

    Quote Originally Posted by tres borrachos View Post
    I work for my income. So does my husband. I also have investments which came about by us making investments with our earnings that we already paid taxes on. Believe it or not, some people actually both work and invest.
    I'm aware of that, but that doesn't erase the fact that many people don't fit into that category.
    Social democrat is no longer an accurate description of my views.

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

    Quote Originally Posted by TurtleDude View Post
    wrong-what is the cause of wealth disparity is the changing economy and global labor markets. No longer can you get a middle class job easily with little education like could in the 50s working on an auto factory line. If you don't have hi-tech education skills you aren't going to get high wages. and government dependency is not helping with that
    I agree that is a part of the story; but only a part. Also playing into this is the decline of unions (that would have also acted to keep some companies from off-shoring manufacturing)Eco trends - unionincome.jpg


    However, if you simply look at the multiple of CEO pay to average workers and minimum wage workers, you will note that wealth (in this case, income) disparity has widened significantly without even considering the middle class. Moreover, CEO pay has widened vis-a-vis corporate profits, showing CEO's are getting more "pie" than ever (the fat cats are getting fatter)

    Wealth Disparity - ceo pay.gif


    http://www.bloomberg.com/news/2013-0...ec-delays.html
    Last edited by upsideguy; 01-21-15 at 03:01 AM.

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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
    Did you recognize that recipe? It is what many people - almost all people in fact - call and APPLE PIE. But I think it sounds better if you name it after a teeny tiny ingredient that makes up less that 99.9% of the pie- CINAMMON.

    You are doing the same thing. Even though 99.% of the Americans who die each year do not pay an estate tax - you and some others prefer to name it after a teeny tiny slice of the people who do pay it and die just like all the other 99.9% even though they are dead but DO NOT PAY and ridiculous DEATH TAX.

    And some desk jockey who writes IRS code is just as much a total idiot if he subscribes to the same nonsense.



    I suspect you are the master in that department. Feel free to post your tried and true one. You have earned it.

    LOL.

    You can throw yourself on the ground and kick and scream, but it's a death tax. The IRS labels it as such, and that is precisely what it is. Your "teeny, tiny" bit, including the pie bit, while entertaining, is actually quite lame. It has no relevance. Of course, that doesn't stop you from now claiming the IRS doesn't know what it's doing, because, well, the almighty haymarket knows better.

    Man, one thing is for sure, humble pie is not on your menu, as it would appear the main ingredient could never be found in your kitchen. An Arrogance layer cake is no doubt more probable.

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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.

    You can throw yourself on the ground and kick and scream, but it's a death tax. The IRS labels it as such, and that is precisely what it is. Your "teeny, tiny" bit, including the pie bit, while entertaining, is actually quite lame. It has no relevance. Of course, that doesn't stop you from now claiming the IRS doesn't know what it's doing, because, well, the almighty haymarket knows better.
    1- my pie example has complete relevance as it destroys your argument and shows the complete fraud of it. That is why you resist it and criticize it.

    2- you have mentioned the IRS label - lets see it. Produce it.

    http://www.irs.gov/Businesses/Small-...yed/Estate-Tax

    Estate Tax
    The Estate Tax is a tax on your right to transfer property at your death. It consists of an accounting of everything you own or have certain interests in at the date of death (Refer to Form 706 (PDF)). The fair market value of these items is used, not necessarily what you paid for them or what their values were when you acquired them. The total of all of these items is your "Gross Estate." The includible property may consist of cash and securities, real estate, insurance, trusts, annuities, business interests and other assets.
    Once you have accounted for the Gross Estate, certain deductions (and in special circumstances, reductions to value) are allowed in arriving at your "Taxable Estate." These deductions may include mortgages and other debts, estate administration expenses, property that passes to surviving spouses and qualified charities. The value of some operating business interests or farms may be reduced for estates that qualify.
    After the net amount is computed, the value of lifetime taxable gifts (beginning with gifts made in 1977) is added to this number and the tax is computed. The tax is then reduced by the available unified credit.
    Most relatively simple estates (cash, publicly traded securities, small amounts of other easily valued assets, and no special deductions or elections, or jointly held property) do not require the filing of an estate tax return. A filing is required for estates with combined gross assets and prior taxable gifts exceeding $1,500,000 in 2004 - 2005; $2,000,000 in 2006 - 2008; $3,500,000 for decedents dying in 2009; and $5,000,000 or more for decedent's dying in 2010 and 2011 (note: there are special rules for decedents dying in 2010); $5,120,000 in 2012, $5,250,000 in 2013, $5,340,000 in 2014 and $5,430,000 in 2015.
    Beginning January 1, 2011, estates of decedents survived by a spouse may elect to pass any of the decedent’s unused exemption to the surviving spouse. This election is made on a timely filed estate tax return for the decedent with a surviving spouse. Note that simplified valuation provisions apply for those estates without a filing requirement absent the portability election.
    Last edited by haymarket; 01-21-15 at 08:26 AM.
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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
    1- my pie example has complete relevance as it destroys your argument and shows the complete fraud of it. That is why you resist it and criticize it.

    2- you have mentioned the IRS label - lets see it. Produce it.
    LOL. The only thing you've destroyed is what little credibility you hoped you had. How many of those small percentage of people you reference are dead? I rest my case.

    Estate tax in the United States - Wikipedia, the free encyclopedia

    The term "death tax"[edit]

    The caption for section 303 of the Internal Revenue Code of 1954, enacted on August 16, 1954, refers to estate taxes, inheritance taxes, legacy taxes and succession taxes imposed because of the death of an individual as "death taxes." That wording remains in the caption of the Internal Revenue Code of 1986, as amended.

    Are you going to bang pots and pans while you kick and scream and throw a tantrum in the face of your failure?

    Really, why die on this hill? What is it about DEATH TAXES that causes the left to go apoplectic over it's use? What are liberal/progressive afraid of? The truth?

    Go on, explain your obsession.

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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. The only thing you've destroyed is what little credibility you hoped you had. How many of those small percentage of people you reference are dead? I rest my case.

    Estate tax in the United States - Wikipedia, the free encyclopedia

    The term "death tax"[edit]

    The caption for section 303 of the Internal Revenue Code of 1954, enacted on August 16, 1954, refers to estate taxes, inheritance taxes, legacy taxes and succession taxes imposed because of the death of an individual as "death taxes." That wording remains in the caption of the Internal Revenue Code of 1986, as amended.

    Are you going to bang pots and pans while you kick and scream and throw a tantrum in the face of your failure?

    Really, why die on this hill? What is it about DEATH TAXES that causes the left to go apoplectic over it's use? What are liberal/progressive afraid of? The truth?

    Go on, explain your obsession.
    You still have NOT reproduced the IRS language you say is there. All you have done is reproduce a statement from another source saying the language is there.

    You can attack me all you want and use silly hyperbolic language in doing so but that is a poor substitute for the actual language you claim is there in the IRS sections.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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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
    You still have NOT reproduced the IRS language you say is there. All you have done is reproduce a statement from another source saying the language is there.

    You can attack me all you want and use silly hyperbolic language in doing so but that is a poor substitute for the actual language you claim is there in the IRS sections.

    Geeze, you're succeeding in redefining pathetic. Here you go, as reprinted.

    26 U.S. Code § 302 - Distributions in redemption of stock | LII / Legal Information Institute

    (f) Cross references
    For special rules relating to redemption—

    (1) Death Taxes.— Of stock to pay death taxes, see section 303.

    (2) Section 306 Stock.— Of section 306 stock, see section 306.

    (3) Liquidations.— Of stock in complete liquidation, see section 331.


    You know, I don't usually go back and step on a bug I've already taken care of, so I really don't understand why you're making me do the same type of thing.

    Why don't you re-write the code if DEATH TAXES appearing in the IRS code is causing you heart failure.


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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
    Geeze, you're succeeding in redefining pathetic. Here you go, as reprinted.

    26 U.S. Code § 302 - Distributions in redemption of stock | LII / Legal Information Institute

    (f) Cross references
    For special rules relating to redemption—

    (1) Death Taxes.— Of stock to pay death taxes, see section 303.

    (2) Section 306 Stock.— Of section 306 stock, see section 306.

    (3) Liquidations.— Of stock in complete liquidation, see section 331.


    You know, I don't usually go back and step on a bug I've already taken care of, so I really don't understand why you're making me do the same type of thing.

    Why don't you re-write the code if DEATH TAXES appearing in the IRS code is causing you heart failure.

    I followed your link:

    (a) In general
    A distribution of property to a shareholder by a corporation in redemption of part or all of the stock of such corporation which (for Federal estate tax purposes) is included in determining the gross estate of a decedent, to the extent that the amount of such distribution does not exceed the sum of—
    (1) the estate, inheritance, legacy, and succession taxes (including any interest collected as a part of such taxes) imposed because of such decedent’s death, and
    It does not say that there is a tax on the death of a person. It says that the tax on the estate and inheritance and other taxes that are imposed because of the death.

    Why do you insist on being so personally insulting in your replies? Why can't you simply present the information without all the attached slights, attacks and insults that you throw in?

    Do you know what a Boston Cream Pie is?
    Last edited by haymarket; 01-21-15 at 09:09 AM.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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