Business, Economics, and Taxes: Capitalism. Yay? >=(

[Deutsche Gopher Fan]

Are we pretending that most normal people’s estate will be taxed at the level of say, a Jeff bezos?it’s like no one on the right understands marginal rates

[Deutsche Gopher Fan]

Any gift between two living people above $14k(?) is treated as income and taxed. Why should her estate be able to give you millions without also treating that as income to you?

Golden rule, that’s why. Rich people stacking the deck for themselves, yet again.

The American dream!

[The Sicatoka]

I don't believe that capital gains should be taxed at a lower rate than income from labor.

Completely agree.

[The Sicatoka]

Are we pretending that most normal people’s estate will be taxed at the level of say, a Jeff bezos?it’s like no one on the right understands marginal rates

Are we talking "estate taxes" or are we talking a hypothetical world where an inheritance would be treated (and taxed) as income.

[rufus]

Are we pretending that most normal people’s estate will be taxed at the level of say, a Jeff bezos?it’s like no one on the right understands marginal rates

It's like no one on the right understands that like the first ten million is exempt. How many people in this country leave a ten million estate?

"Gubmint's gonna take my grammie's whole nest egg!!!!"

[The Sicatoka]

It's like no one on the right understands that like the first ten million is exempt.

"Gubmint's gonna take my grammie's whole nest egg!!!!"

I do. (Mom was way, way under $10M.)


But my cousins had to sell land (family farm) when my uncle died, to pay the tax.
https://www.fb.org/market-intel/esta...o-family-farms

[rufus]

Life's tough. Should have planned better.

Bootstraps.

[unofan]

I've never dealt with it. Need more words.

On death, all capital gets a stepped up cost basis to the date of death. So if you bought stock for $1.00 and die when it's worth $1,000,000 without ever having sold it, your heirs will get to use $1,000,000 as their cost basis when/if they ever sell it.

Part of the reason for the inheritance tax is to recapture the lost capital gains taxes on that $999,999.

[unofan]

I do. (Mom was way, way under $10M.)


But my cousins had to sell land (family farm) when my uncle died, to pay the tax.
https://www.fb.org/market-intel/esta...o-family-farms

Which means your uncle had amassed over $10,000,000 worth of land, equipment, and other property at the time of his death. No offense, but I'm not feeling sorry for them.

[rufus]

Which means your uncle had amassed over $10,000,000 worth of land, equipment, and other property at the time of his death. No offense, but I'm not feeling sorry for them.

Yep. That's a real drag.

[MissThundercat]

I was asked what motivates me at work today.

Apparently, spite is not an appropriate answer.

[French Rage]

I was asked what motivates me at work today.

Apparently, spite is not an appropriate answer.

Nor is it for returning a jacket.

[Handyman]

I do. (Mom was way, way under $10M.)


But my cousins had to sell land (family farm) when my uncle died, to pay the tax.
https://www.fb.org/market-intel/esta...o-family-farms

So what? People make sacrifices suck it up and move on. Plenty of non-White people make worse sacrifices for more important decisions every day and the Right tells them to suck it up and deal. What's good for the goose...

Why is your family more deserving of money or an easy path through life than anyone else is? Just because the previous generation earned it doesn't mean you did.

[Deutsche Gopher Fan]

So what? People make sacrifices suck it up and move on. Plenty of non-White people make worse sacrifices for more important decisions every day and the Right tells them to suck it up and deal. What's good for the goose...

Why is your family more deserving of money or an easy path through life than anyone else is? Just because the previous generation earned it doesn't mean you did.

Not everyone can be a self made man like Donnie! Didn’t you get $500 million from daddy that you lost a few times over?

it’s something they’ll hold onto forever- some people are just more deserving

[LynahFan]

Devine right of the 1%.