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POTUS 45.22 - The Genius of Donald Trump

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Re: POTUS 45.22 - The Genius of Donald Trump

Thanks. Thankfully I’ve never had to go through the process.
 
Re: POTUS 45.22 - The Genius of Donald Trump

Kepler said:
I don't understand this. Can you please explain further?
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He will when whatever Faux Commentator he stole it off of updates him. Though since you are questioning him he will "be away on work" for a few weeks and hope you forget ;)
 
Re: POTUS 45.22 - The Genius of Donald Trump

rufus said:
You make $52,000? Then congratulations, half of the households in the U.S. are worse off than you. Half.

And there's a reason for estate taxes. They simplify the process of trying to calculate the gains of every single investment or holdings that a person has accumulated in their lifetime. With no estate tax, the very wealthy would never pay capital gains on anything, they just hold onto it within the family in perpetuity, even further increasing the inequality gap.
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See the first part is where the disconnect lies I think. I dont think people understand A) how well they have it and B) how many people are actually below them. If things were put in those terms people might understand better.

Then again there are people who think teachers make too much and that people who make $200k are struggling. People are morons.
 
Re: POTUS 45.22 - The Genius of Donald Trump

joecct said:
And if Joe Farmer's heirs have to sell the farm to pay the estate tax, is that right?

I have no problem taxing liquid assets,precious metals and jewelry, and mineral lands. Forcing people to sell the family business, I do.

I know, with proper estate planning one can avoid paying a large chunk, but some people can't or won't or don't.
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If they cant wont or dont then yes they should be forced to sell it to pay the bill. Actions (or in-actions) have consequences. If it was a business owner and he never paid the corporate taxes would you feel the same way?
 
Re: POTUS 45.22 - The Genius of Donald Trump

Handyman said:
See the first part is where the disconnect lies I think. I dont think people understand A) how well they have it and B) how many people are actually below them. If things were put in those terms people might understand better.

Then again there are people who think teachers make too much and that people who make $200k are struggling. People are morons.
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at the end of the day, people who project themselves and their own situations on others are the morons.
 
Re: POTUS 45.22 - The Genius of Donald Trump

Handyman said:
Then again there are people who think teachers make too much and that people who make $200k are struggling. People are morons.
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If you make 6 figures and are having trouble paying bills, you are a moron. Heck, if you are making say, 60K and are struggling, you are a moron.

And teachers do not make enough money.
 
Re: POTUS 45.22 - The Genius of Donald Trump

mookie1995 said:
Single? Perhaps
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To be quite honest, I was about to be a stepfather of 3/have one of my own, and total income would have been about $60K (alimony payments included) and we would have been fine. Just have to be smart about budgeting. ;)
 
Brenthoven said:
To be quite honest, I was about to be a stepfather of 3/have one of my own, and total income would have been about $60K (alimony payments included) and we would have been fine. Just have to be smart about budgeting. ;)
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And not living in Massachusetts :)

But yes....
 
Re: POTUS 45.22 - The Genius of Donald Trump

Brenthoven said:
If you make 6 figures and are having trouble paying bills, you are a moron. Heck, if you are making say, 60K and are struggling, you are a moron.

And teachers do not make enough money.
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Depends on where you live and if you have kids. Making 60K in Minneapolis is not the same as making 60K as in, say, Sioux City, Iowa.

Agreed on teachers but in general they do better now than they did 20 years ago at least.
 
dxmnkd316 said:
The recipient is also taxed on that inheritance, right?
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After dealing with estate taxes in the past few years as parents died, it depends on the state. PA has an inheritance tax, but no estate tax. MD and NJ have both but exclude inheritance to blood relatives.
 
Re: POTUS 45.22 - The Genius of Donald Trump

dave122793 said:
Depends on where you live and if you have kids. Making 60K in Minneapolis is not the same as making 60K as in, say, Sioux City, Iowa.

Agreed on teachers but in general they do better now than they did 20 years ago at least.
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Yes, adjust for cost of living, that part is obvious. I'm using the midwest for my reference. In Silicon Valley? Yeah, 60K ain't sh*.
 
unofan said:
If you have a 10 million+ dollar farm (5 million is exempt per person, so a married couple effectively has a 10 million exemption) and don't properly estate plan, that's on you.

Also, the estate tax hits all of 50 small farms or businesses per year out of millions of deaths. But by all means, let's worry about the .1%.

Eta: sorry, it's the .4%.
<img src="http://thefederalist.com/wp-content/uploads/2017/09/returns-1024x819.png"></img>
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Interesting. But if Joe and Jo Farmer own a $10M farm, doesn't Joe's interest pass directly to Jo when he dies and when Jo dies roughly $5M will be taxed (10-5)??
 
joecct said:
Interesting. But if Joe and Jo Farmer own a $10M farm, doesn't Joe's interest pass directly to Jo when he dies and when Jo dies roughly $5M will be taxed (10-5)??
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Nope. I forget if jo's estate gets to claim Joe's $5 million after the fact, or if the law treats the first $5 million as exempt immediately upon Joe's death, but you get the full exemption per spouse.
 
unofan said:
Nope. I forget if jo's estate gets to claim Joe's $5 million after the fact, or if the law treats the first $5 million as exempt immediately upon Joe's death, but you get the full exemption per spouse.
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Even if they are JTWROS?
 
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