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

ocean515 said:
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.
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Your constant hypotheticals are growing tiresome.
Who has ever willed their fortune be destroyed, and show that such an action was taxed.
 
d head said:
Your constant hypotheticals are growing tiresome.
Who has ever willed their fortune be destroyed, and show that such an action was taxed.
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You lack of any relevant knowledge on the subject is tiresome. Get some, and come back.
 
ludin said:
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.
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Filed does not mean paid.
If nothing is paid there is no tax, only a filing.
 
disneydude said:
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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Yes, and there is a reason for it, California has one of the highest cost of livings and highest tax structure in the nation. All of the top 10 states in the nation in high cost of living are blue states as someone has to pay for all those "free" benefits. TX ranks very low in cost of living which obviously is something you will never understand. Please explain why so many in California are below the poverty level and why your state leads the nation in that category

As for corporate welfare obviously this is another subject you know nothing about. Show me the line item in the TX budget for corporate welfare? Do you mean companies keeping more of what they earn? What a novel concept.

I am convinced that you were the model for Gruber's statement as you show it here with every post
 
ocean515 said:
You lack of any relevant knowledge on the subject is tiresome. Get some, and come back.
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The relevant knowledge is that inheritance tax is not "death tax".
I understand this simple fact.
You have yet to gain that relevant knowledge because you insist on clinging to erroneous terminology and the only arguments you have are fictitious scenarios.
Inheritance is unearned income and should be taxed.
 
ocean515 said:
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?
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You would probably need to ask your wife how those issues were resolved, how the heck would I know. So did the dog end up with the money? I bet there were lot's of people volunteering to adopt it.

Anyhow, I get your point. It's a tax on large estates which is levied only after death.

For a number of years I have advocated that inheritance be treated exactly like any other form of income, and taxed at the standard income rate that earned income would have been taxed at.
 
ludin said:
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.
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I'm not doubting that, but probate can take far longer than that, and a complete valuation of an estate can't be made until probate is complete. When my uncle died, it was nearly two years before his estate issues were resolved. Until some of his unusual assets were disposed of, no valuation of them could really be made.
 
ocean515 said:
LOL. What if there is no human owner? Who pays the Death Tax then?
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Since there is no death tax - there is nobody to pay it.
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"
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It is a purely political term used by political people in pursuit of a political goal to gain advantage in a political dispute. And that is admitted and acknowledged by one of the leading pushers of that dishonest term.
 
Conservative said:
Yes, and there is a reason for it, California has one of the highest cost of livings and highest tax structure in the nation. All of the top 10 states in the nation in high cost of living are blue states as someone has to pay for all those "free" benefits. TX ranks very low in cost of living which obviously is something you will never understand. Please explain why so many in California are below the poverty level and why your state leads the nation in that category

As for corporate welfare obviously this is another subject you know nothing about. Show me the line item in the TX budget for corporate welfare? Do you mean companies keeping more of what they earn? What a novel concept.

I am convinced that you were the model for Gruber's statement as you show it here with every post
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LOL....the blue states generally have higher costs of living because people WANT to live in them. Have you ever noticed that the blue states are where most of the population centers are. Its basic supply/demand....but I wouldn't expect you to understand basic economics (based on your lack of understanding on economic issues) As for California's poverty....yes....that is an issue for California. I'm not sure why the poverty rate is so high, from what I've read, it is based in large part in the more poor rural areas of central California that have the highest poverty rates. Probably as a result of migrant workers who are paid very little....but unlike you....I don't try to gloss over the problems in California. Why do you? Why does Texas lead the nation in the largest percentage of people working at or below minimum wage? Let me give you a clue Con....it has something to do with those corporations "keeping more of what they earn" while they pay their workers peanuts. That's one of the reasons why corporations love Texas. They are given free land, free taxes and they have a hungry base of minimum wage or below minimum wage workers so they don't have to pay people to work.
 
disneydude said:
LOL....the blue states generally have higher costs of living because people WANT to live in them.. . . .
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Wrong.

Businesses and people are leaving California in droves because of the extremist Democrat party rule and its oppressive policies. Plus we are the 49th WORST state for unemployment.

Nobody I know wants to be here.
 
TerryOfromCA said:
Wrong.

Businesses and people are leaving California in droves because of the extremist Democrat party rule and its oppressive policies. Plus we are the 49th WORST state for unemployment.

Nobody I know wants to be here.
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That's a myth that has been dispelled over and over. Sorry.....just isn't so. Some companies have left, but others have moved in. There hasn't been the mass exodus that the right-wing wants you to believe. They obviously go to you though.

You don't want to be here? Good. Texas would love to have you.
 
d head said:
Filed does not mean paid.
If nothing is paid there is no tax, only a filing.
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semantics only. you are filing to show how much is owed by the person that died.
what a horrible argument.
 
imagep said:
I'm not doubting that, but probate can take far longer than that, and a complete valuation of an estate can't be made until probate is complete. When my uncle died, it was nearly two years before his estate issues were resolved. Until some of his unusual assets were disposed of, no valuation of them could really be made.
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as I said it is a death tax.
 
Conservative said:
Let's here it Obama supporters how does taxing the rich benefit the U.S. economy and how much money is going to be generated to fund the liberal spending appetite?
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Let's not forget that he just instituted an entirely new tax burden on the nation with Obamacare.
 
The Baron said:
Let's not forget that he just instituted an entirely new tax burden on the nation with Obamacare.
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Ohhhh.... ...I am sure nobody is forgetting that. I am sure that is a large part of why the GOP just took back Congress.
 
disneydude said:
That's a myth that has been dispelled over and over. Sorry.....just isn't so. Some companies have left, but others have moved in. There hasn't been the mass exodus that the right-wing wants you to believe. They obviously go to you though.

You don't want to be here? Good. Texas would love to have you.
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Maybe, maybe not, I would recommend Colorado for those not yet ready to become proper Texans. ;)
 
haymarket said:
Where does it then go? Does it vanish or vaporize or simply disappear?
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tax revenues from individuals go to about 160 commercials banks who process the payments and sent them to the federal reserve bank of NY where they are deposited in note option depositories.
 
d head said:
The relevant knowledge is that inheritance tax is not "death tax".
I understand this simple fact.
You have yet to gain that relevant knowledge because you insist on clinging to erroneous terminology and the only arguments you have are fictitious scenarios.
Inheritance is unearned income and should be taxed.
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I just showed that it was according to the IRS.
you are required to file any and all estate taxes within 60 days of the persons death.

so yes it is a death tax.
 
ludin said:
I just showed that it was according to the IRS.
you are required to file any and all estate taxes within 60 days of the persons death.

so yes it is a death tax.
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Down to 60 days now? Next post will it be 72 hours?
 
disneydude said:
LOL....the blue states generally have higher costs of living because people WANT to live in them. Have you ever noticed that the blue states are where most of the population centers are. Its basic supply/demand....but I wouldn't expect you to understand basic economics (based on your lack of understanding on economic issues) As for California's poverty....yes....that is an issue for California. I'm not sure why the poverty rate is so high, from what I've read, it is based in large part in the more poor rural areas of central California that have the highest poverty rates. Probably as a result of migrant workers who are paid very little....but unlike you....I don't try to gloss over the problems in California. Why do you? Why does Texas lead the nation in the largest percentage of people working at or below minimum wage? Let me give you a clue Con....it has something to do with those corporations "keeping more of what they earn" while they pay their workers peanuts. That's one of the reasons why corporations love Texas. They are given free land, free taxes and they have a hungry base of minimum wage or below minimum wage workers so they don't have to pay people to work.
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Yes, TX with its low cost of living has 500,000 people making Federal Minimum wage whereas California has 2.4 million workers making California minimum wage. TX has a balanced budget, a growing economy, and one of the largest population growths in the nation. It is a state that apparently you believe dumb people are moving to make low wages, have no insurance, and poor education. Can you please explain to us all what major corporations, Fortune 500 Companies, that have moved to TX pay minimum wage. Thanks in advance.

Your total ignorance is staggering.
 
iguanaman said:
We can't cut middle class taxes without paying for it. That is the reason for raising the capital gains rate. Cutting taxes without paying for it is how we got into large deficit spending. To keep revenue the same we need to get it from somewhere. Do you think we should increase our deficit or raise taxes on unspent income? It is not about politics or the lame "war on the wealthy" meme it is about economic reality. If we want to increase consumer spending and GDP growth without increasing our deficit we need to leave more income to those that spend it all and make it up from those that don't. It is not rocket science and such a plan benefits all. The wealthy get higher profits from increased sales and the rest of us get a better life.
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tax cuts are not "paid for" ..ever.... tax cuts are not a spending item.
we only pay for spending items.
if you really want to increase consumer spending, you give a total tax holiday out there( which is entirely feasible during a high unemployment, low inflation environment)

if you are merely trying to stabilize the deficit by offsetting a revenue loss with revenue gain..well, that's a piss poor reason, economically speaking.
it serve no utility beyond being politically palatable.
 
Conservative said:
Yes, TX with its low cost of living has 500,000 people making Federal Minimum wage whereas California has 2.4 million workers making California minimum wage. TX has a balanced budget, a growing economy, and one of the largest population growths in the nation. It is a state that apparently you believe dumb people are moving to make low wages, have no insurance, and poor education. Can you please explain to us all what major corporations, Fortune 500 Companies, that have moved to TX pay minimum wage. Thanks in advance.

Your total ignorance is staggering.
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More dance and shuffle around the facts.....sorry Con....but you can dance around the facts, but the facts remain. Texas is tied with Mississippi for paying the lowest wages and having the largest percentage of people working for minimum wage. No wonder your education and healthcare systems rank near the bottom as well. Keep living that Texas "dream".....LOL
 
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