View Poll Results: which best describes your view of the inheritance tax?

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  • There should be no inheritance tax of any amount of money or assets.

    84 54.90%
  • The first 5 million dollars should be exempt. After that the tax rate should be 35%.

    21 13.73%
  • The first 5 million dollars should be exempt. After that the tax rate should be 50%.

    12 7.84%
  • The first 1 million should be exempt. After that the rate should be 50%.

    19 12.42%
  • No exempt amount. Tax at 35% from the get-go.

    9 5.88%
  • No exempt amount. Tax at 50% from the get-go.

    1 0.65%
  • Abolish all inheritance. In other words, tax 100%.

    7 4.58%
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Thread: which best describes your view of the inheritance tax?

  1. #291
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by teamosil View Post
    We can't talk about deficit reduction without talking about revenues. We have to fight the deficit on all three fronts- revenues, domestic spending and military spending. It isn't realistically possible to make up $1.4 trillion/year out of any one of those three buckets. We need to spread it across all three.
    Incorrect. If wasteful spending was limited to a tolerable threshold, agencies with overlapping authority were downsized, and social spending along with unnecessary military items were reduced the country could pay the principle plus on the debt and have a more than sufficient operating budget. Revenues need to be weened so that the government is FORCED into spending responsibly. More tax money is not going to solve anything.

    The hangup right now that is preventing us from reducing the deficit is the Republicans. The Democrats have compromised. They've agreed to do domestic spending cuts they don't want to make. The Democrats are consistently proposing larger deficit reduction packages than the Republicans these days. But the Republicans are refusing to cut military spending or increase revenues. The are unwilling to address 2/3 of the problem and the Democrats aren't willing to just let them try to take it all out of the middle class.
    This is just being partisan. The Democrat party had 2 years of complete control in Congress and the Executive, spending increased at the highest rate in American history. It is laughable that you would even go here as a basis for argument.
    The $4 trillion in deficit reduction Obama proposed and the $3 trillion the super committee Democrats proposed were both over 10 years.
    Obama has the highest rate of spending in U.S. History. He has literally outspent all presidents combined and the 4T$ reduction would only negate the debt increase since he has taken office.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    Is this another one of your rants that I am not an attorney? I do care because I do pay the top rates and my current wealth is way beyond what the dems consider an estate worthy to plunder with the death tax
    Let's get specific, shall we?

    5.12 Mil is exempt this year, 2012. Last year was 5 mil even, and the year before there was 0 Death Tax.

    Like I said, nothing to do with you.

    So, again I ask, why do you care so much?

    Like the social cons who what to ban gays from marrying, you're overzealously passionate about an issue that does not directly effect you.

  3. #293
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by teamosil View Post
    We can't talk about deficit reduction without talking about revenues. We have to fight the deficit on all three fronts- revenues, domestic spending and military spending. It isn't realistically possible to make up $1.4 trillion/year out of any one of those three buckets. We need to spread it across all three.

    The hangup right now that is preventing us from reducing the deficit is the Republicans. The Democrats have compromised. They've agreed to do domestic spending cuts they don't want to make. The Democrats are consistently proposing larger deficit reduction packages than the Republicans these days. But the Republicans are refusing to cut military spending or increase revenues. The are unwilling to address 2/3 of the problem and the Democrats aren't willing to just let them try to take it all out of the middle class.

    The $4 trillion in deficit reduction Obama proposed and the $3 trillion the super committee Democrats proposed were both over 10 years.
    $300 billion a year doesn't even make a dent in our spending. This is the fault of both parties. I wouldn't be at all surprised if this is a little game being played for the benefit of their electorate. Your perception on Republicans is incorrect:

    House Republicans plan to propose Tuesday historic changes to Medicare, Medicaid and other popular programs that pour federal money into Americans’ lives, arguing that a sacrifice now will keep those programs solvent for the future.

    The proposal also includes broad changes to the tax system and $6.2 trillion in federal spending cuts from President Obama’s budget over the next 10 years.
    GOP 2012: overhauls on entitlements and taxes, $6.2 trillion in cuts over decade - The Washington Post
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  4. #294
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by LaMidRighter View Post
    Incorrect. If wasteful spending was limited to a tolerable threshold, agencies with overlapping authority were downsized, and social spending along with unnecessary military items were reduced the country could pay the principle plus on the debt and have a more than sufficient operating budget.
    Theoretically if we just slashed the hell out of both the military and domestic budgets we could possibly get down to a balanced budget even at these ultra low tax rates. But the impact would be devastating. The middle class, which is already on the ropes, would by and large collapse into poverty. Ultimately the damage done to the country would cost the rich far more in lost profits than just paying taxes would. It doesn't make any sense to go that direction.

    Quote Originally Posted by LaMidRighter View Post
    Revenues need to be weened so that the government is FORCED into spending responsibly. More tax money is not going to solve anything.
    Revenues have no relationship to spending. That's why we have $1.4 trillion deficit. The federal government could easily borrow $100 Trillion more before it's assets- roughly 1/4 of the land in the US- were even close to tapped out. "Starve the beast" is just a euphemism for "lets just buy it on credit instead of paying for it".

    Quote Originally Posted by LaMidRighter View Post
    This is just being partisan. The Democrat party had 2 years of complete control in Congress and the Executive, spending increased at the highest rate in American history. It is laughable that you would even go here as a basis for argument.
    You aren't paying attention. I'm saying that the Democrats are currently proposing more deficit reduction. During the recession they were proposing increases to the deficit.

    Quote Originally Posted by LaMidRighter View Post
    Obama has the highest rate of spending in U.S. History. He has literally outspent all presidents combined and the 4T$ reduction would only negate the debt increase since he has taken office.
    I honestly can't believe that you think that is true that Obama has outspent all previous presidents combined. That is just so obviously insane that it boggles the mind that you would have bought it. I know some Fox pundits and whatnot were saying that for a while, but of course the things they say are not real. Fox is only pretend. You need to get that firmly through your head.

    In fact, Obama hasn't even outspent Bush yet. Obama has submitted three budgets:

    $3.7T
    $3.8T
    $3.6T
    Total: $11.1T

    Bush submitted eight:
    $3.1T
    $2.9T
    $2.8T
    $2.7T
    $2.4T
    $2.3T
    $2.2T
    $2.0T
    Total: $20.4T

    And that's even before adjusting for inflation... How could you have possibly believed such a ridiculous statement was true?
    Last edited by teamosil; 01-30-12 at 12:49 AM.
    Total tax rates- People living in poverty: 16.2%. The median American: 27%. Working people who make over $140k/year: 31%. The top 1%: 30%. Super rich investors: around 15%. Help the democrats retake the house.

  5. #295
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by MaggieD View Post
    $300 billion a year doesn't even make a dent in our spending. This is the fault of both parties. I wouldn't be at all surprised if this is a little game being played for the benefit of their electorate. Your perception on Republicans is incorrect:

    GOP 2012: overhauls on entitlements and taxes, $6.2 trillion in cuts over decade - The Washington Post
    $300 bil a year is More than 20% of the deficit. (!)
    $6.2 Trillion over a decade you trumpet is $620 bil a year, only about Twice what you say is completely inconsequential.
    I guess it Sounds huge if you don't divide by 10.

    We need Large Cuts AND Rev increases.
    I say take BOTH the Revs above in taxes, AND the cuts in entitlement and your about 2/3s of the way there.
    Last edited by mbig; 01-30-12 at 12:41 AM.
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  6. #296
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by MaggieD View Post
    $300 billion a year doesn't even make a dent in our spending.
    Obama proposed $400b/year in cuts. I agree we need to do more than that, but that would be a huge step in the right direction. Realistically we don't need to cut all $1.4t/year. As we continue to pull out of the recession spending will automatically drop because fewer people will be on food stamps and unemployment and whatnot, and revenues will automatically increase as more people work and companies make more profits and whatnot. From what I've been reading, it sounds like in order to balance the budget we need between $600b and $800b in spending cuts and revenue increases. So, Obama's proposal takes us between 1/2 and 2/3 of the way there.

    Quote Originally Posted by MaggieD View Post
    Your perception on Republicans is incorrect:
    That's the Ryan budget. It was just a photo-op proposal, not a serious one. They knew for a fact it would never clear the senate. Americans opposed it by 2 to 1. It would have basically eliminated the middle class entirely. They just tossed it out there so they could talk about it in their re-election campaigns, nobody on either side of the aisle actually thought it was for real.
    Total tax rates- People living in poverty: 16.2%. The median American: 27%. Working people who make over $140k/year: 31%. The top 1%: 30%. Super rich investors: around 15%. Help the democrats retake the house.

  7. #297
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by teamosil View Post
    Theoretically if we just slashed the hell out of both the military and domestic budgets we could possibly get down to a balanced budget even at these ultra low tax rates. But the impact would be devastating. The middle class, which is already on the ropes, would by and large collapse into poverty. Ultimately the damage done to the country would cost the rich far more in lost profits than just paying taxes would. It doesn't make any sense to go that direction.
    If the middle class needs assistance then that means other government interferences are hindering their earning power by increasing costs. You do understand that right? As well, it is harder to find jobs because there is a huge money bleed. Get rid of that and keep taxes at a productive rate and many problems are solved. You are basically taking a shotgun approach by advocating taking more and throwing money at the wrong problem, spending is the root rather than the amount owed.



    Revenues have no relationship to spending. That's why we have $1.4 trillion deficit. The federal government could easily borrow $100 Trillion more before it's assets- roughly 1/4 of the land in the US- were even close to tapped out. "Starve the beast" is just a euphemism for "lets just buy it on credit instead of paying for it".
    Wrong. Spending and borrowing is justified using taxation, without the ability to tax more most Americans would NEVER allow this irresponsible spending.


    You aren't paying attention. I'm saying that the Democrats are currently proposing more deficit reduction. During the recession they were proposing increases to the deficit.
    Then where were they for the last century or so? I guess the social spending and military spending was all republicans? Or is it that with complete control we weren't already in debt? Ohh, I know, Obama all of a sudden got responsible during the election cycle after adding over 4 trillion in new debt during the two years he had a majority in the house and Senate. Geez, it seems like you are just throwing anything out and hoping it sticks.



    I honestly can't believe that you think that is true that Obama has outspend all previous presidents combined. That is just so obviously insane that it boggles the mind that you would have bought it. I know some Fox pundits and whatnot were saying that for a while, but of course the things they say are not real. Fox is only pretend. You need to get that firmly through your head.
    It's out there if you care to look. By the way, it isn't FOX that I saw the numbers on, nice deflection attempt though.

    In fact, Obama hasn't even outspent Bush yet. Obama has submitted three budgets:

    $3.7T
    $3.8T
    $3.6T
    Total: $11.1T
    Bush submitted eight:
    $3.1T
    $2.9T
    $2.8T
    $2.7T
    $2.4T
    $2.3T
    $2.2T
    $2.0T
    Total: $20.4T

    And that's even before adjusting for inflation... How could you have possibly believed such a ridiculous statement was true?
    Nice try, but Obamacare alone is not included in those budgets and the projections are budget busters. Total cost expected to be around 10T, but please don't let facts get in the way.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by LaMidRighter View Post
    If the middle class needs assistance then that means other government interferences are hindering their earning power by increasing costs. You do understand that right?
    No, that doesn't follow... There could be many reasons that the middle class would need help other than government... Obviously.

    Quote Originally Posted by LaMidRighter View Post
    Wrong. Spending and borrowing is justified using taxation, without the ability to tax more most Americans would NEVER allow this irresponsible spending.
    Maybe you didn't notice but we currently have a deficit of $1.4 trillion. So I guess your theory is wrong.

    Quote Originally Posted by LaMidRighter View Post
    Then where were they for the last century or so? I guess the social spending and military spending was all republicans? Or is it that with complete control we weren't already in debt? Ohh, I know, Obama all of a sudden got responsible during the election cycle after adding over 4 trillion in new debt during the two years he had a majority in the house and Senate. Geez, it seems like you are just throwing anything out and hoping it sticks.
    Not sure you understand what we're discussing. We're talking about the proposals they have on the table right now. Sometimes more spending makes sense, sometimes less. We're talking about what they are proposing now. And now they're proposing more deficit reduction than the Republicans.

    Quote Originally Posted by LaMidRighter View Post
    Nice try, but Obamacare alone is not included in those budgets and the projections are budget busters. Total cost expected to be around 10T, but please don't let facts get in the way.
    Obamacare didn't even have any significant provisions that kicked in in any of those years, and those are the total outlays in the years they submitted the budgets for, so it includes everything.
    Total tax rates- People living in poverty: 16.2%. The median American: 27%. Working people who make over $140k/year: 31%. The top 1%: 30%. Super rich investors: around 15%. Help the democrats retake the house.

  9. #299
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    Re: which best describes your view of the inheritance tax?

    Then where were they for the last century or so? I guess the social spending and military spending was all republicans? Or is it that with complete control we weren't already in debt? Ohh, I know, Obama all of a sudden got responsible during the election cycle after adding over 4 trillion in new debt during the two years he had a majority in the house and Senate. Geez, it seems like you are just throwing anything out and hoping it sticks.
    This is kind of pointless.

    Both parties are complicit in both types of spending, with Republicans have more in with military spending and Democrats having more in with social spending.

    The 4 trillion number has a lot of fine points over who was responsible for what, and such high increases were anticipated in all possible scenarios.
    If you notice something good in yourself, give credit to God, not to yourself, but be certain the evil you commit is always your own and yours to acknowledge.

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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by teamosil View Post
    No, that doesn't follow... There could be many reasons that the middle class would need help other than government... Obviously.
    What part are you not following on? If money is worth less and paychecks don't increase then it is a government caused issue. I'm not going through the whole process for you but what part specifically doesn't resonate with you?


    Maybe you didn't notice but we currently have a deficit of $1.4 trillion. So I guess your theory is wrong.
    Deficit and debt are not the same thing. We are in a debt crisis, the deficit is a smaller part of the problem. Try to keep up.


    Not sure you understand what we're discussing. We're talking about the proposals they have on the table right now. Sometimes more spending makes sense, sometimes less. We're talking about what they are proposing now. And now they're proposing more deficit reduction than the Republicans.
    No, we are talking about spending, not simple budgets. Spending in general is the problem and you want more taxes to cover the problem. THAT is what the discussion has involved.


    Obamacare didn't even have any significant provisions that kicked in in any of those years, and those are the total outlays in the years they submitted the budgets for, so it includes everything.
    Dude, don't even try. Obamacare already has outlays being provided for and the total cost expectations first year are around 10 trillion, this is on top of current debt. There is no need for party apologism here, these are facts.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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