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Obama to call for new tax increases in State of the Union address

ludin said:
ahh yes the old stock argument.

they pay taxes on the stock if it is withdrawn or if it is cashed in.
they have also paid tax on any dividends that they receive.

if you leave someone stock then they are not taxed on that stock until they cash it in, but are responsible for any income taxes they earn from dividends.
which is what most people end up doing.

see I don't have to lower myself to your level to realize that death taxes is nothing but government robbery.
why is it that liberals are so aggressive about taking something that doesn't belong to them?

jealous much?
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lack of citations much?
 
ocean515 said:
The estate owes the tax. There could be no living people who are beneficiaries of the estate. You really don't have a clue about this subject do you? It's really showing.
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If there are no beneficiaries the entire estate goes to the State. That has nothing to do with the inheritance tax.
 
imagep said:
Can you point to me which law calls it the "Death Tax"?

Or is that just something stupid that we call it, kinda like the "Obamaphone"?
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I'm sure they probably use Estate Tax as a reference. As has been seen and proven on this thread, people get all twitchy when Death Tax is used. I would think the better analogy is when the left ignores Illegal Alien and invents Undocumented Immigrant because it meets the current PC litmus test. They go even further and demand only Undocumented Immigrant be used, when Illegal Alien is the proper reference.

So, Estate Tax, but it's really Death Tax, cause to qualify, you must die.
 
ludin said:
it deals with everything you said. it deals with the fact that it has to be filed within 6 months of the persons death. it could be locked up in probate for years for whatever reason
yet it still has to be filed before anyone else gets a dime.
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ludin said:
Filing Estate and Gift Tax Returns
Generally, the estate tax return is due nine months after the date of death.

wrong again.
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hmmmmmmmmmmmm

fascinating.
 
ocean515 said:
I'm sure they probably use Estate Tax as a reference. As has been seen and proven on this thread, people get all twitchy when Death Tax is used. I would think the better analogy is when the left ignores Illegal Alien and invents Undocumented Immigrant because it meets the current PC litmus test. They go even further and demand only Undocumented Immigrant be used, when Illegal Alien is the proper reference.

So, Estate Tax, but it's really Death Tax, cause to qualify, you must die.
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To be fair, a great # of "illegal aliens" are minors who are not in the capacity physically or mentally to control their situation. Attributing criminality to them seems intellectually dishonest. Same way you don't see 2 year olds who accidentally shoot someone with dad's unlocked gun charged with felony murder.
 
ludin said:
it deals with everything you said. it deals with the fact that it has to be filed within 6 months of the persons death. it could be locked up in probate for years for whatever reason
yet it still has to be filed before anyone else gets a dime.
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Wrong. Creditors can and must be paid before probate. Probate is the division of the estate to the beneficiaries who are taxed if the amount exceeds the deduction.
 
haymarket said:
No - that is not why it is called a death tax.



It is a dishonest political term used by political people to gain political advantage to benefit themselves in a public policy dispute.
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No, Frank Luntz didn't invent death.

To qualify for the Death Tax, one must die. That's why it's called a death tax. If you're not dead, don't worry about it.

However, if you are dead, I'd recommend you contact someone quickly, because they usually only allow you about 9 months to pay up, although all the various jumping through hoops stuff can extend that longer.
 

I repeat: All this back-and-forth aside, raising taxes in a frail anemic recovery is a recipe for killing that recovery. THAT is a FACT. . . PERIOD
 
SlevinKelevra said:
How about : the larger than $5M inheritance tax.
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No, that wouldn't do it. The tax is not always related to inheritance. There is a tax on the value of the estate at the time of the death of the decedent. That's why there is an area of law and a practice of law related to Estate Taxes. My lovely wife is one of those people who practice in that area of law. I have been, and currently am, a trustee for a number of estates. I'm somewhat in my comfort zone on this topic.

You could call it the Death Tax for Estates greater than _________. And just leave it blank, since people are jacking with the value all the time. Could save on printing.
 
iguanaman said:
If there are no beneficiaries the entire estate goes to the State. That has nothing to do with the inheritance tax.
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Beneficiaries don't have to be living. It could go to a school, or anywhere. The decedent could demand the estate be converted to cash, and the entire sum burned in a legal manner. The estate would still owe the taxes on the taxable value.

Again, it appears you're compelled to comment based on nothing but an ideological/emotional belief, rather than fact. Perhaps you should reconsider doing so.
 
SlevinKelevra said:
To be fair, a great # of "illegal aliens" are minors who are not in the capacity physically or mentally to control their situation. Attributing criminality to them seems intellectually dishonest. Same way you don't see 2 year olds who accidentally shoot someone with dad's unlocked gun charged with felony murder.
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And where does intellectual dishonesty fit into the scheme of things? Is it intellectually honest to rename a legal term because you don't like the sound of it?

But doing that is ok for many, while referring to Estate Taxes as Death Taxes is a major breach of standards to the left.

Let's not let our hypocritical slips show too much.
 
ocean515 said:
No, Frank Luntz didn't invent death.

To qualify for the Death Tax, one must die. That's why it's called a death tax. If you're not dead, don't worry about it.
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The tax is on the transfer of money to a new owner.
 
ocean515 said:
Beneficiaries don't have to be living. It could go to a school, or anywhere. The decedent could demand the estate be converted to cash, and the entire sum burned in a legal manner. The estate would still owe the taxes on the taxable value.

Again, it appears you're compelled to comment based on nothing but an ideological/emotional belief, rather than fact. Perhaps you should reconsider doing so.
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If the beneficiary is a tax exempt institution no taxes will be due to the estate.
That is proof that the tax is on the beneficiary not the deceased.
 
iguanaman said:
Wrong. Creditors can and must be paid before probate. Probate is the division of the estate to the beneficiaries who are taxed if the amount exceeds the deduction.
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Probate is a process. Not every estate must be probated. Who pays the taxes on a $10 million estate where the assets are to be turned to powder, and spread across the ocean?
 
SlevinKelevra said:
don't get pouty--- YOU called it cronyism (which is another word for politico-corporate welfare corruption)

are businesses that failed under the loan program repaying the government? LMAO
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What ?

Obama's failed Green Jobs iniative ?

That wasn't Corporate " welfare ", that was fraud and corruption.

You should really learn the difference. One is REAL ( Corruption ) and one is a made up false narrative.
 
ocean515 said:
Probate is a process. Not every estate must be probated. Who pays the taxes on a $10 million estate where the assets are to be turned to powder, and spread across the ocean?
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You site that scenario as though it were common practice.
Can you show that anyone has ever done that?
 
d head said:
If the beneficiary is a tax exempt institution no taxes will be due to the estate.
That is proof that the tax is on the beneficiary not the deceased.
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Remove the if. And remove the institution. Then what?

A decedent can stipulate anything they want. They can stipulate their entire estate value be converted to gold bars to be buried in a secret place in the mountains that nobody will ever find. As long as they are not violating some environmental or other laws, they can do that.

Do you think the IRS is going to say, "On dang, if only they had left it to someone alive, we could have collected some Cash-O-La".
 
ocean515 said:
Well, my guess is, even if the number is .2%, to qualify, you first must be dead.

That's why they call it a Death Tax. Given the qualifier, I'm not sure what other name should be used. No longer breathing tax? Needs to be embalmed and buried tax? Geeze they are getting stinky tax?
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I would think that an inheritance would also have to be involved, even if there is a dead person. So obviously "inheritance tax" makes better sense.
 
ocean515 said:
And where does intellectual dishonesty fit into the scheme of things? Is it intellectually honest to rename a legal term because you don't like the sound of it?
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OK, you have a point. It's dishonest to call the inheritance tax the "death tax". I'm pretty sure that "death tax" is not a legal term.
 
d head said:
You site that scenario as though it were common practice.
Can you show that anyone has ever done that?
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LOL

Get out of here. First, show me the law that states you can't turn your entire estate to powder and spread it across the ocean. There may be some enviro laws that might cause a problem, but the state can't stop you.

People die all the time who hate their relatives, and frankly people in general. They don't leave anything to anyone, and they don't want the government to get anything more than they deserve, so they make stipulations on what to do with the stuff they have. I'm talking about people who have millions of dollars in assets. The estate pays whatever death taxes are due, and an executor, usually for a fee, since someone has to do it, makes sure the decedents wishes are carried out.
 
imagep said:
I would think that an inheritance would also have to be involved, even if there is a dead person. So obviously "inheritance tax" makes better sense.
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People don't always leave things to people. My wife had a client who left $400,000 to their dog. Tell me, does the dog sign the tax return with a paw print, or would an "X" scratched onto the surface work? Does the dog use it's SS number for tax references?
 
iguanaman said:
Wrong. Creditors can and must be paid before probate. Probate is the division of the estate to the beneficiaries who are taxed if the amount exceeds the deduction.
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yes you are wrong.

within 60 days of Death. it doesn't say within 60 days of passing it to someone else. it says within 60 days of death the estate taxes must be filed.
so it is a death tax.
 
Conservative said:
That is because BLS doesn't survey California or the 28 others states that have their own minimum wages. Your dishonesty continues
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There's nothing dishonest about it. You keep crying about California paying higher wages than the Federal Minimum wage. So what? It still means that they are making more than the large percentages of Texans and Mississippians who share the distinction of being the two worst states for wages. Its all those minimum wage jobs that Texas has handed out billions in corporate welfare to bring in. Sorry...but you can't dance and spin around the facts Con.....Texas leads the country in the amount of people working at or below minimum wage. Facts are facts.
 
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