Posted on 06/26/2006 3:53:23 PM PDT by george76
Indeed, you are pathetic.
It is a DEATH tax that punishes success.
You are most decidedly a democrat, but do rave on. (!!!)
A Few rich investor estate's is not going to change my companies financial condition one bit..
It's called a loophole. All the rich liberals jump through them.
You don't even know what money or republicanism is !!! you are for someone that is not even affected by the Death Tax but you are spouting how important it is for you !!!
Buffet's not. He says one thing (he's for the DEATH TAX), and does another (transfers it as untaxed "income" - read: donated).
Buffet is a hypocritical, leftist scumbag.
Let's diagram your sentence:
A few rich investors' estates are not going to change my company's financial condition one bit...
Lord have mercy on ignorant you.
Most Billionaires have BILLIONS on unrealized CAPITAL GAINS that have not been realized, do your research !!!
I know this much:
English is not your first language and you are not a Republican.
I am not quite ready to call you a troll because I suspect you are heavily hitting the bottle.
So? Most billionaires have that snatch to invest, which, uh, provides jobs.
What he does has no bearing on you or your condition.
I'm all for charitable giving, in any form. I'm against rich liberal scumbags preaching to me the joys of paying higher taxes by being for the estate tax, while they have the gall to demonstrate on national TV in front of "ooh'ing and ahh'ing" liberal media sycophants lapping all that hypocritical nonsense like there's no tomorrow.
So that had what meaning ??
I am a small time share holder of a 31 Billion Dollar company.
How did your statement mean anything on whether my company would be impacted by --
Estate Tax
No Estate Tax
Simply because someone's inheritance may be wrapped up in its capitalization.
They're probably taking advantage of you right under your nose.
ROTFLMAO!
Unless you have 2+ million to give to your children you will not being paying anything....
Let keep this in perspective -
Roughly 99 percent of estates pay no estate tax at all. Among the few estates that do owe taxes, the "effective" tax rate — that is, the percentage of the estate that is paid in taxes — averaged about 20 percent in 2004, according to the IRS, far below the top estate tax rate of 49 percent that these estates faced (http://www.cbpp.org/5-31-06tax.htm).
Why is the effective tax rate so much lower than the top tax rate? Estate taxes are due only on the portion of an estate’s value that exceeds the exemption level, not on the entire estate. For example, at today’s $2.0 million exemption level, a $2.5 million estate would owe estate taxes on $500,000 at most. In addition, a large portion of the estate’s remaining value can be shielded from taxation through available deductions (for charitable bequests and state estate taxes paid, for instance).
It’s also worth noting that the effective estate tax rate will fall below 20 percent over the next few years, as the exemption level rises and the top estate tax rate declines
Great and informative, thank you.
But you still haven't made your case for charging the damned thing (estate tax) in the first place, since one has been at least triple-taxed on the gains already, not to mention the FICA/MHI, and state taxes on the company's (presumably) most precious resource.
What I don't understand is, after those monies have been taxed to death,
WHY does the government feel the need to tax those monies all over again?
WHY can't a family KNOW that their heirs will not have to sell the family farm,
OR sell the Miami Dolphins?
It's through their hard work that they have been successful.
What you are proposing is redistribution of wealth.
THAT is socialism.
If you live in a modest $2 million dollar home somewhere in California, that's taxed too, twice actually, once before you die and secondly upon 9 months after your 6 feet under; paid in cash. Estate taxes don't just tax money. Everything you own is part of your estate.
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