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Thread: Obama to call for middle class tax cut extension

  1. #271
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by apdst View Post
    Right and if the tax burdens and regulations are too high, it makes it harder for entrepreneurs to do what they do best; especially rookie entrepreneurs who aren't as liquid.
    Not all people are cut out for running a business or starting from scratch. Even DeLorean couldn't make it work because he bit off more than he could chew.
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by wbcoleman View Post
    There is no charity deduction unless the bequests are written into the trust or the will. The beneficiaries cannot avoid the tax by choosing to donate their bequests, although they can take a deduction against their own taxable income.
    I'll have to confirm that before I believe it. I didn't realize anyone was required to accept a gift or an inheritance.
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by MoSurveyor View Post
    I'll have to confirm that before I believe it. I didn't realize anyone was required to accept a gift or an inheritance.
    You're not required to accept the bequest. You're confused, the beneficiary doesn't pay the Death Tax. The estate pays the Death Tax.
    Zionism is the National Liberation Movement of the Jewish People.

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    Re: Obama to call for middle class tax cut extension

    Ahhh but the will can direct the estate to a charity and the deceased isn't taxed so there is no death tax to use the right wing ranters terms. No one with over 3.5 million to pass on is doing so without the guidance of an estate planner so much of the whine over taxes is moot.

    Starter businesses, either funded by Daddy's money or on borrowed money are notorious for being under capitalized, the taxes have nothing to do with this, it comes from wishful thinking rather than rock solid planning. FYI the children have had 20 to 30 years for Daddy's money to help their career, the successful children should have already made their way in the world, those who can't until Daddy dies probably won't even with the windfall.

    Either Daddy has taught his kids to fish or all he is doing by willing them his money is buying them one big ol' fish...

  5. #275
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by notquiteright View Post
    Ahhh but the will can direct the estate to a charity and the deceased isn't taxed so there is no death tax to use the right wing ranters terms. No one with over 3.5 million to pass on is doing so without the guidance of an estate planner so much of the whine over taxes is moot.

    Starter businesses, either funded by Daddy's money or on borrowed money are notorious for being under capitalized, the taxes have nothing to do with this, it comes from wishful thinking rather than rock solid planning. FYI the children have had 20 to 30 years for Daddy's money to help their career, the successful children should have already made their way in the world, those who can't until Daddy dies probably won't even with the windfall.

    Either Daddy has taught his kids to fish or all he is doing by willing them his money is buying them one big ol' fish...
    You can indeed avoid the Death Tax by bequeathing the estate to charity, a la that great advocate of higher Death Taxes, Warren Buffett.

    As for employing the guidance of an estate planner, the expense of so doing [plus legal and accounting fees] is a primary cost of the Death Tax.
    Zionism is the National Liberation Movement of the Jewish People.

  6. #276
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by apdst View Post
    Right and if the tax burdens and regulations are too high, it makes it harder for entrepreneurs to do what they do best; especially rookie entrepreneurs who aren't as liquid.
    People that start businesses do not pay income tax..... In fact, the higher the marginal rate, the more the benefit to the entrepreneur in starting the business, as the tax breaks associated with starting a business are worth more, but that is an esoteric sidebar.

    About the last thing an entrepreneur is concerned about is income taxes. You start a business because you see a demand for your product/service. You expand that business because you see continued demand or demand for tangential services or in tangential markets. Taxes are about as far on the horizon of entrepreneurial decision-making as a cruise ship.
    Last edited by upsideguy; 07-15-12 at 09:51 PM.

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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by wbcoleman View Post
    Please explain why that's anything other than a semantic difference. What's consequential in your distinction?
    Because he and a few others don't want it called 'death tax', that's all.
    "nah i think the way cons want to turn this into a political issue is funny though" - Philly Boss

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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by MoSurveyor View Post
    Not all people are cut out for running a business or starting from scratch. Even DeLorean couldn't make it work because he bit off more than he could chew.
    I think 'more than he could snort' might have played a bit more into that one.
    "nah i think the way cons want to turn this into a political issue is funny though" - Philly Boss

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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by Arbo View Post
    I think 'more than he could snort' might have played a bit more into that one.
    If you say so.
    Mt. Rushmore: Three surveyors and some other guy.
    Life goes on within you and without you. -Harrison
    Hear the echoes of the centuries, Power isn't all that money buys. -Peart
    After you learn quantum mechanics you're never really the same again. -Weinberg

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    Quote Originally Posted by MoSurveyor View Post
    That $800 was over a decade - $80B per year - not NOW as you asserted. The Dems tried to get the Repos to even agree to that much and they wouldn't. As the article said, "Boehner refused to embrace that figure" in November.


    Like I said, your claim is bull.
    You obviously did not understand.

    The one asking for spending increases... Democrats. They got $800B now.

    The one asking for spending cuts... Republicans. They got $800B over 10 years.

    I would refuse to embrace that reficulous figure also.
    “Tyranny is defined as that which is legal for the government but illegal for the citizenry.”
    ― Thomas Jefferson

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