Posted on 10/16/2017 8:27:57 PM PDT by nickcarraway
What a load of neo-Marxist horsecrap.
Anything in excess of whatever the current estate tax amount is around the hopefully distant time of the demise of yours truly is going to get left to whomever I desire as a coordinate set[s] for the inheiritor to go out and dig up...
(This means that fewer than 1% of all estates are taxed.)
1) eliminating Federal inheritance tax is revenue enhancement. Wealth will not get a stepped up basis in the estate and thus when sold will be subject to income tax.
2) Eliminating Federal inheritance tax still leaves State inheritance tax so the accounting does not go away, but gets more complicated.
3) Better the devil we know instead of fixing it like we did health care..........................
We had never previously crossed paths, but she immediately told me that she has personal access to net assets of $100,000 and that she makes $68,000 a year.
“Nobody is keeping them from adding a couple of zeros to their tax bill...”
You said it...3x...the solution to this overwhelming sense of guilt is as close as their checkbook. Why does everybody else have to get involved in assuaging their conscience?
tired of hearing about the poor corporate tax rates...or dividend rates, etc...
those who earn wages pay thru the nose ...those who earn wages often don't earn quite enough to be investors but too much to benefit from any govt program or free stuff...
there's a reason the rich are always happy....
What is stopping them from paying more than owed at tax time?
>> What a load of neo-Marxist horsecrap.
By the Guardian and author.
Sucks to see FReepers consuming the narrative.
Exactly. They want the aegis and screw others.
“He has always benefited from low taxation on his investment income, for instance.”
The horror. To those who don’t know, the lower you tax investment income the more of it you get. And that includes taxes. It’s a volume thing.
The fact that Millionaires often, if not mostly, treat us like crap has convinced me that conservatives should stop wasting our political capital on trying to keep their tax rates low.
If these assholes want lower taxes, the FIRST THING they can do is STOP ATTACKING TRUMP, and the second thing they can do is START SUPPORTING REPUBLICANS, and supporting America (knee-takers, take notice please).
I wouldn’t mind a 20% surtax on ALL earnings over $500k in a calendar year...let’s give them what they seem to want so badly - a party that taxes the crap out of them.
“We had never previously crossed paths, but she immediately told me that she has personal access to net assets of $100,000 and that she makes $68,000 a year.”
This article smells funny...
First off... nets assets of $100k with an annual income of $68k is very do-able, I know house painters, electricians, mechanics, plumbers etc... who make double that, even triple.
As for “owning” a $370k apartment... that “owning” word gets tossed around a lot when in actuality one doesn’t own property unless there is a title in hand. But then... Don’t pay your taxes and the reality of who really “owns” it or who/what can legally steal it becomes painfully real. Besides... who would buy an apartment?
This is a city dwellers article written by a rat in a cage for other rats in other cages to read and envy the rich and powerful cube farm slaves and paper shuffler’s...
Years ago - when this stupid idea was becoming fashionable - a friend started in on it... how ‘little’ he paid.
I told him to drop his high priced CPA, hire some guy from a shopping mall kiosk - - then send a check to the United States Treasury earmarking the money for ‘paying down the debt’.
He was laughed, looked down, and NEVER brought up that ‘rich bragging’ crap again.
Why doesn’t the guy just write checks to the govt. if he thinks he pays too little in taxes?
Here in NJ some libs want high property taxes, but only because it keeps the black and brown people miles away from their homes. Those same libs fight tooth and nail any time “affordable housing” is discussed within miles of them.
Nobody is keeping them from not itemizing and just taking the standard deductions.
Wage earners stay poor because they can’t avoid spending money for instant gratification and maintain debt loads that keep them in serfdom. Wage earners guarantee their kids will more likely than not remain in their state by continually electing clowns to their school boards that do nothing to teach them about finance or how to do basic stuff associated with maintaining the mechanics of a household.
I listened to a guy the other day on Dave Ramsey’s show who had no debt, paid off house and cars and about 1.5 mil in liquid assets and he’d cut freakin grass all his life. He was in his early 50’s.
I’ve bought good vehicles for $100-500, driven them for 10’s of thousands of miles and sold them for even or more. People give away lawn equipment by the hundreds of thousands of units a year that you can fix cheap and turn $50-100 bucks on.
The land that is America literally has wealth lying on the damn ground that picked up by a person in their days wandering s would equal the average annual income of probably 50+% of the planet.
Any given non mentally handicapped or predominantly physically disabled person in America has the ability to create and grow wealth. There may be a plethora of obstacles on the path, but the FIRST step in it is to start squirreling away some seed money on a weekly basis and then devote that to ONLY things that will grow that stash and then don’t blow it on something when you’re all the sudden “hard up”. That means if you couldn’t manage the electric bill that month, you live in the dark before you eat the seeds.
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