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Thread: Obama to call for middle class tax cut extension

  1. #281
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by wbcoleman View Post
    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.
    I knew the "estate" paid the estate tax, I guess it was the options I had forgotten. Dad died in 1987 so it's been awhile.
    Last edited by MoSurveyor; 07-15-12 at 10:24 PM.
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  2. #282
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by Aberration View Post
    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.
    What? No one was asking for spending increases. It was a matter of tax increases and spending cuts. Are you drunk or something?
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  3. #283
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by upsideguy View Post
    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.
    Dude! Seriously! What fantasy world do you live in?

  4. #284
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by apdst View Post
    Dude! Seriously! What fantasy world do you live in?
    I am a serial entrepreneur. I have started several businesses, some successful and others not so much. I was part of a team that started one in 1999 that we sold to a private equity firm in 2008. I then started one on my own 2009. I know employ over 50 people. As with any start-up, you lose money during the first 12-24 months of operation (so you pay no income taxes) and then you get recover those losses, applying them against future profits so that you pay no income taxes until your start-up losses are fully recovered. So, I get to operate for a considerable period of time before income taxes are even the most remote of concerns.

    As to the side bar, since I do not pay taxes and will not pay them at the highest rate for some time, the marginal rate is meaningless... and once the marginal rate has meaning, the higher it is, the more I am incented to invest in the business rather than take money out of the business. Even for a passive investor, a higher marginal tax rate means less of his/her money is really at risk as many of the investment costs, if structured correctly, can be written off with greater benefit to the investor when the rates are higher.

    Actually having experience doing what we are talking about is the is the fantasy world I live in. What are your credentials for this discussion? Created any jobs lately? .
    Last edited by upsideguy; 07-15-12 at 11:12 PM.

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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by TurtleDude View Post
    wrong as usual-its just to show that the term estate tax is as or more inaccurate as death tax. the best name for it is "a surcharge on the wealthy"
    Faris & Luntz would pat you on the head and give you a biscuit.
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by haymarket View Post
    Faris & Luntz would pat you on the head and give you a biscuit.
    the Parasite support team will give you a medal of merit for your constant spewing of propaganda designed to convince the weak minded that the government really does NEED more of our (or in your case) other peoples' money.

    Its funny how the collectivist left assumes everyone who despises their parasitic schemes must get marching orders from two people-because they, the extreme left-tend to be parrots of DNC/Soros talking points

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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by Fletch View Post
    do you seriously believe all of that? If you do, you would have to explain to me how that would even remotely be a viable political or economic strategy. I think you have bought into an absurd carricature of your political opposition that has no real relationship to reality.
    If you dont believe all that...you live in lalaland and its not viable because the teaparty has fallen to new lows in favorability...the new far right house has the lowest approval of any house in history and with this economy and MEGA MILLION donors romney has and hes still behind obama...

  8. #288
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by TurtleDude View Post
    the Parasite support team will give you a medal of merit for your constant spewing of propaganda designed to convince the weak minded that the government really does NEED more of our (or in your case) other peoples' money.

    Its funny how the collectivist left assumes everyone who despises their parasitic schemes must get marching orders from two people-because they, the extreme left-tend to be parrots of DNC/Soros talking points
    You may be jumping up and down in sheer glee that we have a growing national debt which will be passed on to our children and future generations to pay. I imagine in some sick way, that is your right. Many of us are not happy about saddling our children and grand-children with massive debt and feel it is profoundly unfair to them.

    And yet again I mention Luntz & Faris and that little rubber hammer swings and hits home producing the expected knee jerk response s you have to dig down and counter with Soros. That is sad.

    And yet again, for a time beyond calculation, you pervert my position on tax increases. I am not advocating that YOUR taxes be raised. I am advocating that OUR taxes - as in ALL Americans who earn dollar one - be raised.

    That is the responsible adult position for someone who believes we should hand our children a better nation that the one we were handed on the day we became Americans. Paying our bills is a major part of that.
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by TurtleDude View Post
    why do you set standards that no one else is using. no one said the act of death was taxed-everyone said that death is what causes the tax to "vest"
    NO it does not. It is the transfer of money from one owner to new owners that triggers the tax. One could have their wealth destroyed at the time of death and there would be nothing to tax. The death would still occur.

    All you do is to loyally play the role of the right wing follower of orders from Luntz & Faris in pushing their favorite neologism. They would be proud of your servitude on their behalf.

    http://en.wikipedia.org/wiki/Estate_..._United_States

    The term "death tax"
    The term "death tax" is a neologism used by policy makers and critics to describe the estate tax in a way that conveys additional meaning. The terms "death duties" and "inheritance taxes" are also sometimes used.

    Political use of "death tax" as a synonym for "estate tax" was encouraged by Jack Faris of the National Federation of Independent Business[47] during the Speakership of Newt Gingrich. Well-known Republican pollster Frank Luntz wrote that the term "death tax" "kindled voter resentment in a way that 'inheritance tax' and 'estate tax' do not".[48] Linguist George Lakoff states that the term "death tax" is a deliberate and carefully calculated neologism used as a propaganda tactic to aid in efforts to repeal estate taxes. The use of "death tax" rather than "estate tax" in the wording of questions in the 2002 National Election Survey increased support for estate tax repeal by only a few percentage points.[49]
    Last edited by haymarket; 07-16-12 at 07:29 AM.
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by wbcoleman View Post
    My mother's death was taxed. I wrote the check.
    Really? Perhaps you can give us some details. What was the tax and who was it paid to? Why was your mother singled out for her death when hundreds of millions of Americans have died and their death was never taxed?
    __________________________________________________ _
    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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