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. #621
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by LaMidRighter View Post
    So then you are for ending the discrimination against the wealthy in favor of the poor? Why didn't you just say so.


    I have no idea what you mean by that. Care to actually explain something for once?

    The discriminatory laws that allow the wealthy
    1 - to pay 60% lower rates on capital gains compared to normal wages at the same high level, and
    2- the healthy and generous exemptions for the estate tax

    prove conclusively that the wealthy are the beneficiaries of discriminatory preferences by the current tax code.
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  2. #622
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    dishonest

    Lets review

    you want dividends taxed at the same rate as earned income

    you want the top bracket to be at least 40%

    take one million in corporate profit that is being distributed to me (a top one percenter)

    350K is taken from that pool by the federal government in corporate taxes leaving 650K

    40% taken from that remaining 650K at the distribution level

    that is 260K

    leaving 390K for me and the parasitic government takes 610K
    Let's break that down a little differently.

    "you want dividends taxed at the same rate as earned income" -TD

    "you want the top bracket to be at least 40%" -TD

    "take one million in corporate profit that is being distributed to me (a top one percenter)" -TD
    Whoa - let's make this a little more clear
    take one million in corporate income. $350K is taken from that pool by the federal government in corporate taxes leaving $650K

    Now, the corporation has $650k that it can do with as it sees fit. It can increase the value of it's stock in various ways or it can give some interest back to the people that have loaned it money (that would be you).

    The corporation decides to pay interest on it's loan so it issues dividends for $650k

    You pay income tax on your interest income of $650k, which amounts to $260k.

    The corporation has paid a tax of 35% on it's income of $1M (which could have come from many sources).
    You have paid a 40% tax on your interest income of $650k, which could just as easily have come from a personal loan you made to a buddy.

    I'm sorry, I don't see any 61% tax rate here. I see two, distinct financial transactions. One is taxation of income from various sources and one is taxation of interest income.
    Last edited by MoSurveyor; 02-03-12 at 12:00 AM.

  3. #623
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    How much you pay is irrelevant. The issue here is what motivates you in your positions on the issue of taxation. Your own words in post after post after post show beyond any doubt that you state a principle of belief only to completely reverse that position to its opposite belief and the only common glue holding it together is that in each of your positions - no matter how contradictory they actually are - you get a tax cut.

    I do not need NERVE to call your position SELFISH. Your own posts and your own reversals of your own self proclaimed 'principles' provide that characterization of your views for you.
    that is stupendously stupid a comment. what I pay is what motivates my position

    and yes you call me selfish because I merely want to pay the same rate as others even if that means more money

  4. #624
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    that is stupendously stupid a comment. what I pay is what motivates my position

    and yes you call me selfish because I merely want to pay the same rate as others even if that means more money
    What you pay may motivate YOU AS AN INDIVIDUAL.

    What you pay is irrelevant as far as if it is fair or not.
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  5. #625
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    I have no reason to think anything about your silly beliefs about spouses and the estate tax that are false from the get go. I provided you with the information that showed your question was blatantly foolish and without merit and you were ignorant of the reality of the situation.

    So now you continue to whine that I have not given my opinion on your delusions? Amazing.
    what beliefs of mine are false again?...hell, where, exactly, have i stated these beliefs that you declare to be false.?

    ... do i need to ask Uncle Sam , are are you capable of handling this one?

    I asked for your argument, you provided me with the IRS information....information that I already knew, at that ( some of us here actually have to concern ourselves with the inheritance tax, and educate ourselves accordingly.. you know, us evil 1%ers you loathe so much)

  6. #626
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by MoSurveyor View Post
    Let's break that down a little differently.

    "you want dividends taxed at the same rate as earned income" -TD

    "you want the top bracket to be at least 40%" -TD

    "take one million in corporate profit that is being distributed to me (a top one percenter)" -TD
    Whoa - let's make this a little more clear
    take one million in corporate profit. 350K is taken from that pool by the federal government in corporate taxes leaving 650K

    Now, the corporation has $650k that it can do with as it sees fit. It can increase the value of it's stock in various ways or it can give some interest back to the people that have loaned it money (that would be you).

    The corporation decides to pay interest on it's loan so it issues dividends for $650k

    You pay income tax on your interest profit of $650k, which amounts to $260k.

    The corporation has paid a tax of 35% on it's income of $1M (which could have come from many sources).
    You have paid a 40% tax on your interest income of $650k, which could just as easily have come from a personal loan you made to a buddy.

    I'm sorry, I don't see any 61% tax rate here. I see two, distinct financial transactions. One is taxation of income from various sources and one is taxation of interest income.

    talk about completely changing the facts to suit your agenda

    of course you don't see it-you have been blinded by your agenda and you didn't even really read what i wrote

  7. #627
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    I have no idea what you mean by that. Care to actually explain something for once?

    The discriminatory laws that allow the wealthy
    1 - to pay 60% lower rates on capital gains compared to normal wages at the same high level, and
    2- the healthy and generous exemptions for the estate tax

    prove conclusively that the wealthy are the beneficiaries of discriminatory preferences by the current tax code.
    I've been explaining things to you, not my fault you aren't keeping up.

    Okay. As Turtledude and others have explained to you, income taxes were paid on earned money, then disposable income was sent to investments, dividends taxed at 30%, THEN an additional 15% was taken from capital gains. So that is X% tax rate plus 30% on dividends PLUS 15% while some earners pay a total under 15% and most pay NOTHING. On top of that after the person who paid all those taxes cannot leave a hefty portion of what's left to their heirs because an ADDITIONAL TAX is assessed upon the estate, while the less wealthy pay little or nothing in comparison. Therefore taxation is preferential treatment towards lower earners, so I'm guessing since you want to end discrimination then you must be for eliminating excessive taxation based upon higher earnings and wealth accumulation right? Or, you just want to discriminate against the wealthy.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

  8. #628
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Thrilla View Post
    what beliefs of mine are false again?...hell, where, exactly, have i stated these beliefs that you declare to be false.?

    ... do i need to ask Uncle Sam , are are you capable of handling this one?

    I asked for your argument, you provided me with the IRS information....information that I already knew, at that ( some of us here actually have to concern ourselves with the inheritance tax, and educate ourselves accordingly.. you know, us evil 1%ers you loathe so much)
    So tell us all straight and clear then: what is your question about spouses and the estate tax that you so badly beg my opinion on?
    __________________________________________________ _
    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

  9. #629
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by LaMidRighter View Post
    I've been explaining things to you, not my fault you aren't keeping up.

    Okay. As Turtledude and others have explained to you, income taxes were paid on earned money, then disposable income was sent to investments, dividends taxed at 30%, THEN an additional 15% was taken from capital gains. So that is X% tax rate plus 30% on dividends PLUS 15% while some earners pay a total under 15% and most pay NOTHING. On top of that after the person who paid all those taxes cannot leave a hefty portion of what's left to their heirs because an ADDITIONAL TAX is assessed upon the estate, while the less wealthy pay little or nothing in comparison. Therefore taxation is preferential treatment towards lower earners, so I'm guessing since you want to end discrimination then you must be for eliminating excessive taxation based upon higher earnings and wealth accumulation right? Or, you just want to discriminate against the wealthy.
    That is not the case. Long term capital gains are taxed once at 15%.

    You cannot add different taxes on different things all together and get a number and claim it is accurate.
    Last edited by haymarket; 02-03-12 at 12:06 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

  10. #630
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    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    That is not the case. Long term capital gains are taxed once at 15%.
    Long term capital gains, did you conveniently forget about the rest?
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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