Strands in the Tapestry: the Business, Economics, and Tax Policy Thread

[joecct]

Re: Dead!!!!

Re: Dead!!!!

Titans owner Bud Adams, 90.

Yesterday may have been too much for him.

I spent some time interviewing Bud in his office in the APC building in Houston. APC stands for "Adams Petroleum Company." His was the biggest office I've ever seen--the entire lower floor of the building. You could have had a hockey game in there. Nice enough guy. We spent most of our time talking about Culver Military Academy and an extreme diet I was on at the time. One of the key figures in the creation of the AFL. The Oilers were among the early powerhouses of the league with Bear castoff quarterback George Blanda filling the sky with TD passes. An era ends.

If he's held the franchise that long, the estate taxes are going to be a doozy! Forbes lists the Titan's value as $1.055 billion. Estate taxes are 40%.

Since Bud was not poor, he's probably got the estate set up to send the smallest check possible from the estate to Uncle Sam.

 

[St. Clown]

Re: Dead!!!!

Re: Dead!!!!

If he's held the franchise that long, the estate taxes are going to be a doozy! Forbes lists the Titan's value as $1.055 billion. Estate taxes are 40%.

Since Bud was not poor, he's probably got the estate set up to send the smallest check possible from the estate to Uncle Sam.

Insurance policies. In an overly simplistic explanation, you take out an estate tax policy and it pays your taxes for you. It's the product upon which Berkshire-Hathaway was originally built.

 

[Priceless]

Re: Dead!!!!

Re: Dead!!!!

If he's held the franchise that long, the estate taxes are going to be a doozy! Forbes lists the Titan's value as $1.055 billion. Estate taxes are 40%.

Boo-freaking-hoo. Give me the estate and I'll pay the taxes for them.

 

[Old Pio]

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Boo-freaking-hoo. Give me the estate and I'll pay the taxes for them.

It's so much easier when it's somebody else's money, isn't it?

 

[bigblue_dl]

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Boo-freaking-hoo. Give me the estate and I'll pay the taxes for them.

Figures

 

[DrDemento]

Re: Dead!!!!

Re: Dead!!!!

If he's held the franchise that long, the estate taxes are going to be a doozy! Forbes lists the Titan's value as $1.055 billion. Estate taxes are 40%.

Since Bud was not poor, he's probably got the estate set up to send the smallest check possible from the estate to Uncle Sam.

Since I have never been in that kind of category-would most of that money be the kind of thing that was accumulated after already paying taxes on it previously?

 

[Priceless]

Re: Dead!!!!

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It's so much easier when it's somebody else's money, isn't it?

I volunteered to make it my money and then I would pay the taxes on it. See, that's the very definition of it NOT being someone else's money.

 

[Old Pio]

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I volunteered to make it my money and then I would pay the taxes on it. See, that's the very definition of it NOT being someone else's money.

It's also so much easier to volunteer to make someone else's money yours than it is to earn it yourself. Because once you've "volunteered" (expropriated?) someone else's money it's just that much easier to give it away. Isn't it, Karl?

 

[Priceless]

Re: Dead!!!!

Re: Dead!!!!

It's also so much easier to volunteer to make someone else's money yours than it is to earn it yourself.

As opposed to his heir(s) which did...what to earn that money? Climb out of the right vagina?

 

[bigblue_dl]

Re: Dead!!!!

Re: Dead!!!!

As opposed to his heir(s) which did...what to earn that money? Climb out of the right vagina?

 

[Old Pio]

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As opposed to his heir(s) which did...what to earn that money? Climb out of the right vagina?

Much better to let you and the rest of the chorale decide what to do with OPM, right? Such pathetic arrogance. As far as I'm concerned, the only problem with "the rich" is I ain't one of 'em. You, on the other hand, want to punish them for their success (unless their name is Kennedy, of course).

 

[bigmrg74]

Much better to let you and the rest of the chorale decide what to do with OPM, right? Such pathetic arrogance. As far as I'm concerned, the only problem with "the rich" is I ain't one of 'em. You, on the other hand, want to punish them for their success (unless their name is Kennedy, of course).

sorry, but how exactly should I feel sorry for somebody who's still getting a couple hundred million after taxes??

 

[Priceless]

Re: Dead!!!!

Re: Dead!!!!

Much better to let you and the rest of the chorale decide what to do with OPM, right? Such pathetic arrogance. As far as I'm concerned, the only problem with "the rich" is I ain't one of 'em. You, on the other hand, want to punish them for their success (unless their name is Kennedy, of course).

Yes, I want to "punish" them by making their heir pay an estate tax. That's a severe punishment.

 

[Old Pio]

Re: Dead!!!!

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Yes, I want to "punish" them by making their heir pay an estate tax. That's a severe punishment.

That's not the point of this, and you d*mn well know it. Why is it every time you back yourself into an uberliberal corner you change the subject? Apart from the fact estate taxes tax money that has already been taxed (in some cases more than once) the point of this discussion is your "shock" that Bud Adams' heirs would take steps to minimize their tax exposure. You don't care for rich people (especially the ones who inherit) unless their name is Kennedy, of course. And your instinct is to punish them. What was your elegant phrase? Oh, yes, "for climbing out of the right vagina." Nice. And typical. I'm guessing you'd prefer to just confiscate the money so you and Ira Magaziner could decide who "deserved" to have it.

 

[Old Pio]

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sorry, but how exactly should I feel sorry for somebody who's still getting a couple hundred million after taxes??

Who said anything about feeling sorry for them? Because they're successful they have fewer rights and less claim for fairness from the government? Orwell would have loved you.

 

[bigmrg74]

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Re: Dead!!!!

Who said anything about feeling sorry for them? Because they're successful they have fewer rights and less claim for fairness from the government? Orwell would have loved you.

Bud Adams JR is still going to be getting hundreds of Millions just from getting the Titans, and along with some of his fathers other business ventures most likely. After taxes are paid, Junior is still going to be doing all right for himself, and if having to pay an inheritance tax on it is going to break his bank, then Bud Adams Senior raised a **** fool.

 

[Old Pio]

Re: Dead!!!!

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Bud Adams JR is still going to be getting hundreds of Millions just from getting the Titans, and along with some of his fathers other business ventures most likely. After taxes are paid, Junior is still going to be doing all right for himself, and if having to pay an inheritance tax on it is going to break his bank, then Bud Adams Senior raised a **** fool.

I would say that's a fair exegesis of the libtard creed. Jealousy is never pretty. Especially when it's jealousy wrapped up in bull sh*t left wing rhetoric. Do you see any limits on the ability of the government to confiscate money from people who've committed the "crime" of inheriting it?

This is the same idiot logic that leads leftys to claim rich people will "get" so much from tax cuts. When, in fact, the tax cuts allow them to keep more of that which is already theirs. That's not "getting" anything.

 

[Priceless]

Re: Dead!!!!

Re: Dead!!!!

That's not the point of this, and you d*mn well know it. Why is it every time you back yourself into an uberliberal corner you change the subject? Apart from the fact estate taxes tax money that has already been taxed (in some cases more than once) the point of this discussion is your "shock" that Bud Adams' heirs would take steps to minimize their tax exposure. You don't care for rich people (especially the ones who inherit) unless their name is Kennedy, of course. And your instinct is to punish them. What was your elegant phrase? Oh, yes, "for climbing out of the right vagina." Nice. And typical. I'm guessing you'd prefer to just confiscate the money so you and Ira Magaziner could decide who "deserved" to have it.

I'm not the one changing the subject. That would be you. You're also assuming all kinds of things I believe when I have never posted anything of the sort. I don't even know who Ira Magaziner is. My point is, and has been, that his heirs have done about as much to "earn" that money as you or I have. Joe posted a guess that his estate taxes are going to be "a doozy." If that is a problem for Junior, I have generously offered to pay the severe estate taxes for him if he allows me to have the rest of his inheritance. If he doesn't have a problem paying the estate tax, more power to him. My offer stands for any heir subject to the confiscatory tax - give me the money and I will pay your taxes. That way they won't have to pay them. Everybody wins! Except me...I still have to pay those horrible taxes. I'll muddle through somehow.

 

[Old Pio]

Re: Dead!!!!

Re: Dead!!!!

I'm not the one changing the subject. That would be you. You're also assuming all kinds of things I believe when I have never posted anything of the sort. I don't even know who Ira Magaziner is. My point is, and has been, that his heirs have done about as much to "earn" that money as you or I have. Joe posted a guess that his estate taxes are going to be "a doozy." If that is a problem for Junior, I have generously offered to pay the severe estate taxes for him if he allows me to have the rest of his inheritance. If he doesn't have a problem paying the estate tax, more power to him. My offer stands for any heir subject to the confiscatory tax - give me the money and I will pay your taxes. That way they won't have to pay them. Everybody wins! Except me...I still have to pay those horrible taxes. I'll muddle through somehow.

Yeah, again you let us know how willing you are to pay taxes with somebody else's money. Money they earned by "climbing out of the right vagina." How dare Bud Adams, Jr. try to legally limit his tax exposure here. By inheriting he has lost any claim he might have on fairness. You'd probably be willing to overpay, you're such an altruist. You and the rest of the libtards think you know much better how their money should be spent. Why not be honest, for a change?

As a guy who once quoted an Arkansas Republican county chairman (as if he were somebody important) I frankly don't believe you don't know who Ira Magaziner is. And in the unlikely event you don't, why don't you apply just a tiny bit of the energy you expend triumphantly quoting obscure conservatives and look him up?

 

[Priceless]

Re: Dead!!!!

Re: Dead!!!!

Yeah, again you let us know how willing you are to pay taxes with somebody else's money. Money they earned by "climbing out of the right vagina." How dare Bud Adams, Jr. try to legally limit his tax exposure here. By inheriting he has lost any claim he might have on fairness. You'd probably be willing to overpay, you're such an altruist. You and the rest of the libtards think you know much better how their money should be spent. Why not be honest, for a change?

As a guy who once quoted an Arkansas Republican county chairman (as if he were somebody important) I frankly don't believe you don't know who Ira Magaziner is. And in the unlikely event you don't, why don't you apply just a tiny bit of the energy you expend triumphantly quoting obscure conservatives and look him up?

Once again, I've never said anything about limiting his estate tax. That's more of you making stuff up as you go. And again, this isn't someone else's money. It would be MY money. I am curious though. You're a rugged individualist who wants people to pull themselves up by their bootstraps...that isn't what he is doing, is it? He's pulling himself up by Daddy's bootstraps. Isn't that counter to what Republicans think people should do?

And no, I don't know who Ira is. Given your fascination with Democrats who have been dead for decades I'm going to guess he was an economist that said something you didn't like 30 or 40 years ago.

By the way, this thread is for the announcing of people who have passed, so if you wish to continue our pleasant discussion, may I suggest we do it in one of the numerous political threads so people don't wander in here looking to see who died and are instead greeted by political debate? Great.