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

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The Sicatoka said:
My mother would be upset that money she already paid taxes on would be taxed again merely because she died and left it to her kids (and not the Salvation Army).

You want to cap the amount and tax over that? Sure. Number?

But that leads to "family trusts" to dodge the "number". Would those be "wealth taxed" under this plan?
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Again, because apparently, you're thick.

It is not her money.

It was her money when she died. When it passed on to you, it is now your money, new income for you, that should be taxed.

She's not getting taxed on it again. She's dead. You're getting taxed on it. Because, it's income that you're getting.

And dimbulb, sweetie, it's already capped and taxed above that. Look it up.
 
rufus said:
She's not getting taxed on it again. She's dead. You're getting taxed on it. Because, it's income that you're getting.
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It's taxed in the transaction. Call it what you will, her death tax, my income tax, I don't believe that instance, inheritance, should be taxable. And, again, I'm amenable a "number" (meaning less than, no tax).

But, let's reward people who take care of themselves to the end and have some left over by allowing them to pass it along to others to (who hopefully, knock wood) do the same.


PS - rufus, I was going to will it all to you. But I'd hate you to have to pay the tax under inheritance is income plan. All to UND Hockey scholarships I guess. :-D
 
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 Sicatoka said:
I don't believe that instance, inheritance, should be taxable.
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And, there we have it. Just like a good little Republican. Why didn't you just come right out and say that?

I don't believe that capital gains should be taxed at a lower rate than income from labor. Ain't life a b1tch?

Why do they need a reward? They're fucking dead. Kids need to bootstrap it, baby!!!!!

You know, self-reliance, rugged individualism, the self-made man, all that sh#t that makes you Repubs all damp in the pants. Oh, you mean, that's for the other guy.
 
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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
 
LynahFan said:
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.
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The American dream!
 
Deutsche Gopher Fan said:
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
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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 said:
I've never dealt with it. Need more words.
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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.
 
The Sicatoka said:
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
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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.
 
Handyman said:
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.
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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
 
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