Kepler
Si certus es dubita
Re: POTUS 45.22 - The Genius of Donald Trump
I don't understand this. Can you please explain further?
I don't understand this. Can you please explain further?
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POTUS 45.22 - The Genius of Donald Trump
- Thread starter dxmnkd316
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unofan
Well-known member
The unrealized capital gains have not, and for those estates that are subject to the estate tax, that makes up a huge portion of the estate.
Put another way, when Joe farmer buys land 50 years ago at $100/acre, and it's now worth $10,000/acre, that $9,900 gain had not been taxed.
mookie1995
there's a good buck in that racket.
Think people feel that original dough used to buy the land was perhaps maybe taxed for something first
Unless Joe farmer had a money tree on his farm and picked it there
Re: POTUS 45.22 - The Genius of Donald Trump
We need a pareto chart of relative benefits. Instead of railing on the lazy people living off of welfare, you will see that the tax breaks on gets for capitol gains far out weighs that. You never talk about equal taxes among all income- you just point out the same BS that R's like to rail on.
I'm 100% not talking about the estate tax, I'm talking capitol gains, where you just find someone who is willing to pay you more for something that you paid for. Hold that for more than one year, and that income is taxed at merely 15%. That is such BS it's not funny. It adds NOTHING to the economy at all, and makes people enter the investment world over actually working for a living. Again, I challenge anyone to explain how wall st money (other than initial stock sales) actually adds to the economy vs tying up billions and billions of dollars that can either be spent or REALLY invested in making stuff.
Then again, the fact that you buy into the whole estate tax BS, it's pretty funny. I'm 100% certain that you will never sniff a cent of estate tax. Your projection of that tax are for individuals who have a $5M estate. And some of that estate IS NOT TAXED. Most people's #1 thing is their house- and if you sold it before you die, that is subject to estate tax. If your estate sells it AFTER you die, it's taxed at the estate tax rate. So if you somehow make $1M in value for your house, that tax is hidden. I'd have to check, but talking to our lawyer, 401k's may have the same rule- sell it before you die, capitol gains tax, pass it on, no tax.
So to blanket say that the estate tax is taxed twice isn't correct. Some might, a lot isn't.
The core, though, is to really understand who is getting the best breaks- the rich or poor. You think the poor, I really think the rich. Heck, there's zero reason rich should get ANY tax breaks or welfare- they don't spend money at the same rate as the poor and middle class- so they don't add to the overall economy the same.
We need a pareto chart of relative benefits. Instead of railing on the lazy people living off of welfare, you will see that the tax breaks on gets for capitol gains far out weighs that. You never talk about equal taxes among all income- you just point out the same BS that R's like to rail on.
I'm 100% not talking about the estate tax, I'm talking capitol gains, where you just find someone who is willing to pay you more for something that you paid for. Hold that for more than one year, and that income is taxed at merely 15%. That is such BS it's not funny. It adds NOTHING to the economy at all, and makes people enter the investment world over actually working for a living. Again, I challenge anyone to explain how wall st money (other than initial stock sales) actually adds to the economy vs tying up billions and billions of dollars that can either be spent or REALLY invested in making stuff.
Then again, the fact that you buy into the whole estate tax BS, it's pretty funny. I'm 100% certain that you will never sniff a cent of estate tax. Your projection of that tax are for individuals who have a $5M estate. And some of that estate IS NOT TAXED. Most people's #1 thing is their house- and if you sold it before you die, that is subject to estate tax. If your estate sells it AFTER you die, it's taxed at the estate tax rate. So if you somehow make $1M in value for your house, that tax is hidden. I'd have to check, but talking to our lawyer, 401k's may have the same rule- sell it before you die, capitol gains tax, pass it on, no tax.
So to blanket say that the estate tax is taxed twice isn't correct. Some might, a lot isn't.
The core, though, is to really understand who is getting the best breaks- the rich or poor. You think the poor, I really think the rich. Heck, there's zero reason rich should get ANY tax breaks or welfare- they don't spend money at the same rate as the poor and middle class- so they don't add to the overall economy the same.
unofan
Well-known member
Think people feel that original dough used to buy the land was perhaps maybe taxed for something first
Unless Joe farmer had a money tree on his farm and picked it there
All money has been taxed countless times. Double taxation is a political talking point, nothing more.
Re: POTUS 45.22 - The Genius of Donald Trump
It very much takes out the idea of loyalty. If you have a 401k, there's nothing that ties you to a company. And, as I see it, that's being reciprocated in spades right back from the firm to the individual.
A pension means you have a reason to make it with the golden handcuffs. Some that sucks, sure.
But I knew more than a handful of people who worked more than the required 30 years (sometimes WAY more)- there's a reason for that. Now, we are just looking at hitting the limit and retiring.
It very much takes out the idea of loyalty. If you have a 401k, there's nothing that ties you to a company. And, as I see it, that's being reciprocated in spades right back from the firm to the individual.
A pension means you have a reason to make it with the golden handcuffs. Some that sucks, sure.
But I knew more than a handful of people who worked more than the required 30 years (sometimes WAY more)- there's a reason for that. Now, we are just looking at hitting the limit and retiring.
Kepler
Si certus es dubita
mookie1995
there's a good buck in that racket.
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.
Kepler
Si certus es dubita
Re: POTUS 45.22 - The Genius of Donald Trump
I think there are ways to save the family farm while still taxing ADM.
Big business uses small business as a human shield.
I think there are ways to save the family farm while still taxing ADM.
Big business uses small business as a human shield.
D
Deutsche Gopher Fan
Guest
Re: POTUS 45.22 - The Genius of Donald Trump
Would love to start taxing churches and religious organizations, esp if they are able to openly campaign and spew vile nonsense out (more than they already do)
Would love to start taxing churches and religious organizations, esp if they are able to openly campaign and spew vile nonsense out (more than they already do)
D
Deutsche Gopher Fan
Guest
Very well stated
Kepler
Si certus es dubita
unofan
Well-known member
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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D
Deutsche Gopher Fan
Guest
Re: POTUS 45.22 - The Genius of Donald Trump
The R posters here worry more about the .4 percent, which mirrors most republicans. It's astounding but consistent.
The R posters here worry more about the .4 percent, which mirrors most republicans. It's astounding but consistent.
Re: POTUS 45.22 - The Genius of Donald Trump
*cough* SCIENTOLOGY *cough*
I better lawyer up, now that I possibly have spoken ill of that cult.
*cough* SCIENTOLOGY *cough*
I better lawyer up, now that I possibly have spoken ill of that cult.
aparch
Acetaminamerican
Re: POTUS 45.22 - The Genius of Donald Trump
Incoming EPA Advisor: "You like breathing clean air? Go fu** yourself."
Incoming EPA Advisor: "You like breathing clean air? Go fu** yourself."
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