Skip to comments.Democratic aide: Fiscal 'cliff' deal reached
Posted on 12/31/2012 6:16:05 PM PST by bd476
click here to read article
Ya know; I am really sick and tired of the Republican leadership,(now there’s an oxymoron) and the Rinos in here telling me that every cave to pressure really doesn’t matter, the really issue is the next crisis on the horizon.
Ya know; I am really sick and tired of the Republican leadership,(now there’s an oxymoron) and the Rinos in here telling me that every cave to pressure really doesn’t matter, the real issue is the next crisis on the horizon.
Unless they have a charitable trust or move their profits/assets off shore, exactly how do they shelter their income?
There is always lots of talk about the rich not paying taxes because of trusts, but that is a fallacy. Revocable and irrevocable trusts do not reduce income and estate taxes, unless assigned to a charitable foundation where they may be a board member and the board gives them a salary.
While personal trusts make it easier to transfer assets without going through the long process of probate, they don't negate the estate taxes. I know; I've had one for years. I've always wondered why the Dims whine about the rich not paying "their fair share" because of tax loopholes. Show me the loopholes. I'd love to take advange of them. They don't exist, except for salaried board members in charitable trusts and/or move assets off shore.
Income (including dividends), capital gains, estate (death) taxes have and still do exist no matter how rich. Please let me know where these shelters are in the USA. Not talking about charitable contributions either. Those are money's given out and while they are a tax deduction, it is still money out of pocket, much like a mortgage deduction. Neither are credits, but a small percentage deduction from your gross top line.
Seriously, show me how to shelter my income, maybe I'm missing something. I'll give you a finders fee...haha. BTW, good to see you're still around.
with an honest news media he would own it. with the current MSM....the Republicans own it.
You can defer your income until after retirement. You can move money offshore, you can pay yourself with dividends instead of income. You can start a “farm”. You can do rental property.
I thought the senate would not pass a tax increase bill.
Looks like they have.
Rental property is where I am. Lots of advantages there. Not to mention you have real assets. If you buy bonds or stocks or something... all you have is a promise to payback from the person you loaned all your money to. And, clearly a government that may or may not make them honor their promise.
Commercial. Real. Estate.
What is happening is no one cares!!!
MY mom and I cared and watched the news, the commentary, the newspapers describing the tragedy that would be a second term for Obama. I watched as our GOP played games while Obamas team picked apart our Constitution and ravaged the military. We were enraged and believed there was something we could do.....we got involved. To our dismay, no one knew about Benghazi...no one knew about the multiple problems Obama has brought to our country...and sad no one cares. My mom and I were heart broken as Romney lost, surely Obama the worst president in history could not win again....but he did. My 75 year old mother almost went into a state of depression....and all the GOP continue to play and laugh and eat with the enemy.
Our pledge....live a life of excellence, stand above the fray and remember God is our only stability and refugee.
We vowed to turn off and stay away from everything that is politics for the next 4 years. Its an unwinnable game that is already fixed by lobbyist and corrupt minds. We cannot win, but God will have the last word. I would rather be on his team, than trust anyone in the GOP or the tea party....money talks......corruption is breeded in D.C. I will not contribute to it anylonger. God BLess our Troops...they will need it ;)
This save the day on the 11th hour...a bunch of crap. They are all worthless and do not deserve the title of civil servant. Where are the men and women of excellence? Where are the Americans that love and vowed to stand for the constitution? I see nada, no one in D.C.
well Happy New Years to you and your family. Cheers
Its fine to have a blow-out in a fancy restaurant,
With terrapin and canvas-back and all the wine you want;
To enjoy the flowers and music, watch the pretty women pass,
Smoke a choice cigar, and sip the wealthy water in your glass.
Its bully in a high-toned joint to eat and drink your fill,
But its quite another matter when you
Pay the bill.
Its great to go out every night on fun or pleasure bent;
To wear your glad rags always and to never save a cent;
To drift along regardless, have a good time every trip;
To hit the high spots sometimes, and to let your chances slip;
To know youre acting foolish, yet to go on fooling still,
Till Nature calls a show-down, and you
Pay the bill.
Time has got a little bill get wise while yet you may,
For the debit sides increasing in a most alarming way;
The things you had no right to do, the things you should have done,
Theyre all put down; its up to you to pay for every one.
So eat, drink and be merry, have a good time if you will,
But God help you when the time comes, and you
Foot the bill.
By Robert Service
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.