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. #461
    warrior of the wetlands
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    1) only because you obsess about mostly one tax - the federal income tax and are willing to exclude other more regressive taxes from the discussion

    2) you yourself have admitted we cannot have a tax system based on service usage because it is not possible to calculate that amount. you are now arguing against your own past admissions.

    3) There is not tax that people pay upon their death. That is a lie. The tax is paid on the transfer of an estate to a living person who comes into money new to them.
    I 'obsess' with the two taxes that your dem masters try to jack up on me to buy the votes of people who agree with your mindset.

  2. #462
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    I 'obsess' with the two taxes that your dem masters try to jack up on me to buy the votes of people who agree with your mindset.
    I have asked you nicely to please deep six this nonsense that I have masters. If I called you a serf or a slave and your master was Money you would be offended as I am from the implications. Please stop.
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  3. #463
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    Yeah we have seen that nonsense before but it is quite dishonest

    The third guy, the money was massively taxed during its accumulation and no properly taxable transaction took place

    the second person: the money is subject to massive risk and inflation and if its dividends it has already been massively taxed

    the first person-if he makes that much he is most likely saving and investing and sure doesn't want to pay 35% on his investment income

    three different sources of revenue
    Where do you get this fairy tale nonsense???? no properly taxable transaction took place ... amazing!!! the transaction that takes place in estate taxes is that the money changes hands from one owner to another. Somebody gets handed a freakin fortune for heavens sake. It matters not what taxes were paid in the past years by the precious owner when he or she earned the money as it is NO LONGER THEIR MONEY. When the money changes to a new owner and the new owner receives it, they pay tax on it as new money coming into their pocket just like money transferring in salary or wages from one person to a new person.

    As to risk and inflation - its your choice to play that game and wear that uniform so don't expect the nation to subsidize the risk you are taking in your investment. Be a big boy and make it on your own without the nation having to subsidize your risk through discriminatory tax rates.

    And it is NOT your place to say what the wage earner is doing with his money. Keep your nose out of his spending habits and do NOT jump to conclusions about his spending habits based on your personal value system.

    Yup - they are three different sources of revenue. And the discriminatory rates applied to each because the source changes while the money stays the same is what the American people are getting very angry about as in the polls that I presented here which show that about 60% or more of average Americans want to increase taxes on the wealthy.
    Last edited by haymarket; 01-31-12 at 06:52 PM.
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  4. #464
    Irremovable Intelligence
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    I 'obsess' with the two taxes that your dem masters try to jack up on me to buy the votes of people who agree with your mindset.
    I think that TD obsesses over making as much capital gains and qualified dividends income as possible. Less of a tax burden...ya know? The 15% rate isn't great, but better than ordinary. But we all know that's not even a problem for TD.

    Capital gain income from assets held longer than one year are generally taxed at a special long-term capital gains rate.

    The rate that applies depends on which ordinary income tax bracket you fall under.

    So think about it...if you don't make much ORDINARY income...then LOOKY....

    Zero percent rate if your total income (including capital gain income) places you in the ten or fifteen percent tax brackets.
    15% rate if your total income (including capital gain income) places you in the twenty-five percent tax bracket or higher.

    Tax Rate on Dividend Income

    Dividends are classified either as ordinary dividends or as qualified dividends.

    Ordinary dividends are taxed at your ordinary tax rates for whatever tax bracket you are in. These petty dividends...pain in the ass, but sometimes...you do what ya gotta do.

    Qualified dividends are taxed at a 15% percent rate. To be eligible as a qualified dividend, the dividends must be from a domestic corporation or a qualifying foreign corporation and you must hold the stock "for more than 60 days during the 121-day period that begins 60 days before the ex-dividend date." - These dividends...pure love. Hit and run income...that you don't tie up forever. And it doesn't stick you with "Ordinary Income"...YUCK!

    Of course...there aren't many people who earn large sums off of capital gains and qualified dividends....like TD does.

    These are the two taxes that TD obsesses over....

    There ya have it...its how the rich and famous do it. They don't give a rats ass about the Federal Income Tax Rate....just like Corporations don't give a rats ass about 35% corporate tax rate.

  5. #465
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by cpwill View Post
    no - that's the zero sum fallacy. having more efficient and effective companies increases production.
    I'm going by what I've observed over 25 years around construction (civil projects). I've seen const companies go under and those workers are hired by someone else in a relatively short period of time. Projects that are already started are completed with money from the bonding company using the exact same people and equipment. At most it's a two-month delay. Existing contracts not under const are re-bid and someone else builds them instead. Sometimes these companies expand to take on the new contracts. Other times roving companies (out-of-towners) will fill in the gap until someone invests in a new company or the existing companies expand. There's no loss of efficiency because it's the same guys doing the same job with the same equipment and, often, the same foreman. By the time the job is over someone else is ready to hire those men - whether it's the new investor or an established company that took the opportunity to add a new crew. Const men are (mostly) highly skilled workers who know what they're doing. If the const contracts are available then they'll have a job. If there are no contract available then they would have been out of work anyway.

    Maybe other industries are different, I don't know, but I do know construction - surveying in particular. (see user name)

    Quote Originally Posted by cpwill View Post
    those masses weren't "pushed". they were raised to think that they were special, that life owed them a trophy just for showing up, and then told that they should all incur massive student debt to spend a leisurely half-decade pretending to focus in "University Studies" only to find out that the real world won't reward them for it.
    I only mentioned OWS because it's the most obvious sign of unrest, not out of any fondness for it. (Those guys are amateurs compared to the anti-war and civil rights rallies I grew up watching.) It's not their direct message that's important - whatever it is, do they even know? - it's the fact it exists at all that's important. Not counting that small anit-Iraq blip, when was the last time something like this happened to this broad of an extent in the US?

    I'm not saying things can't change, I know all too well that they CAN change - and hope they do. But if you blind-side the populace into a position they can't see coming you're just asking for trouble. Maybe Joe would be doing better if the school system he was in was better - and we need better education in this country, Asia is killing us in that regard. Maybe Carl who was part of a down-size could be re-trained as a mechanic but he can't go to mechanic's school and still support a family - Catch 22. A little money in the right places (and some big money in those we've neglected far too long) can go a long way to making things better in the future. I hate welfare and I keep hoping people will move in the right direction to get rid of it without ruining the country in the process.

    Quote Originally Posted by cpwill View Post
    sure. then we'll make it illegal to immigrate here without going through the proper channels. that way, no one will do it.

    You can't "put a stop" to campaign contributions. Didn't we learn that with McCain-Feingold? Besides First Amendment concerns, there is simply too much incentive. So long as politics interferes with business, business will find it necessary (and profitable) to interfere in politics.
    Like I said:
    The world has moved beyond simplistic answers like yours and mine.
    In other words, I don't believe either idea will work.

    Government will always be required to regulate business to some extent because business will not regulate itself. It's always cheaper to be unsafe. It's always cheaper to pollute. It's always cheaper to throw away humans than maintain them - unless they're highly trained or have a very rare skill or trait (and by definition, few in the population meet these requirements). Business is there to make money. To business the environment's only role is to provide raw materials. To business humans are just another resource and a renewable one at that. Business has no conscious.

  6. #466
    warrior of the wetlands
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Removable Mind View Post
    I think that TD obsesses over making as much capital gains and qualified dividends income as possible. Less of a tax burden...ya know? The 15% rate isn't great, but better than ordinary. But we all know that's not even a problem for TD.

    Capital gain income from assets held longer than one year are generally taxed at a special long-term capital gains rate.

    The rate that applies depends on which ordinary income tax bracket you fall under.

    So think about it...if you don't make much ORDINARY income...then LOOKY....

    Zero percent rate if your total income (including capital gain income) places you in the ten or fifteen percent tax brackets.
    15% rate if your total income (including capital gain income) places you in the twenty-five percent tax bracket or higher.

    Tax Rate on Dividend Income

    Dividends are classified either as ordinary dividends or as qualified dividends.

    Ordinary dividends are taxed at your ordinary tax rates for whatever tax bracket you are in. These petty dividends...pain in the ass, but sometimes...you do what ya gotta do.

    Qualified dividends are taxed at a 15% percent rate. To be eligible as a qualified dividend, the dividends must be from a domestic corporation or a qualifying foreign corporation and you must hold the stock "for more than 60 days during the 121-day period that begins 60 days before the ex-dividend date." - These dividends...pure love. Hit and run income...that you don't tie up forever. And it doesn't stick you with "Ordinary Income"...YUCK!

    Of course...there aren't many people who earn large sums off of capital gains and qualified dividends....like TD does.

    These are the two taxes that TD obsesses over....

    There ya have it...its how the rich and famous do it. They don't give a rats ass about the Federal Income Tax Rate....just like Corporations don't give a rats ass about 35% corporate tax rate.
    why do you worry so much what others pay-and I mean those who pay a ton of taxes while not being concerned about the half of america that are paying no income taxes.

    Now I heard an interesting statistic today-right now there are as many or more people who get more from the government than they pay in taxes. the way things are going, there will be 60% getting and 40% paying for that. Does anyone believe that those 60% will want to CUT government spending? OF COURSE NOT

    and you are part of that group that wants to keep that sort of problem going

  7. #467
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    Re: which best describes your view of the inheritance tax?

    yeah- flat tax. That would fix everything.
    “In politics, stupidity is not a handicap.” -Napoleon

  8. #468
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    why do you worry so much what others pay-and I mean those who pay a ton of taxes while not being concerned about the half of america that are paying no income taxes.
    1 - I am an American citizen
    2- I love and care about this nation and its people
    3- I desire economic and tax justice for its people
    4- please do not lie about my position when it know it is otherwise. You know darn well that I have stated that ALL Americans who earn dollar one should pay federal income tax. I have repeatedly advocated that ALL people pay at least 5%. So this nonsense about me not caring about those who do not pay federal income tax is a falsehood and you knew it to be so when you typed those words.
    5- It matters NOT how much any individual pay as long as he or she is gaming the system by paying far less what other American pay on the same income. Capital gains and the high exclusions for inheritance are two such examples of the Golden Rule in place where the rules were written for the wealthy and they are doing a great job of taking advantage of them.
    6- I am part of the group that is advocating for changes - one of which is that ALL Americans with income pay at least 5% and discriminatory preferences be stricken from the law.
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  9. #469
    warrior of the wetlands
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    1 - I am an American citizen
    2- I love and care about this nation and its people
    3- I desire economic and tax justice for its people
    4- please do not lie about my position when it know it is otherwise. You know darn well that I have stated that ALL Americans who earn dollar one should pay federal income tax. I have repeatedly advocated that ALL people pay at least 5%. So this nonsense about me not caring about those who do not pay federal income tax is a falsehood and you knew it to be so when you typed those words.
    5- It matters NOT how much any individual pay as long as he or she is gaming the system by paying far less what other American pay on the same income. Capital gains and the high exclusions for inheritance are two such examples of the Golden Rule in place where the rules were written for the wealthy and they are doing a great job of taking advantage of them.
    6- I am part of the group that is advocating for changes - one of which is that ALL Americans with income pay at least 5% and discriminatory preferences be stricken from the law.
    economic justice=more government, more control over private property, more feeding the bloated beast

  10. #470
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    economic justice=more government, more control over private property, more feeding the bloated beast
    Actually it means LESS government. LESS government discrimination over sources of income as they do today. LESS government interfering in manipulating how people spend and obtain their money. LESS government in "encouraging" behaviors and habits that somebody thinks need nudging and pushing from government. LESS government subsidizing investment and risk.

    But that was never the issue really cared about anyways. Its merely a right wing meme which is used to get lower taxes for the wealthy and anything which services that is employed in the crusade including the phony LESS government meme.
    __________________________________________________ _
    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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