GOP estate tax repeal

[newwurldmn]

Interesting thread and really shows the difference between liberals and more reasonable people.

You see terms like "derelicts" and "assholes" thrown around because they really can't make a compelling argument for the govt to say what you can do with your own property. And that's really what this is about. You earned it, you paid taxes on it, it's your property whether it's dollars or a farm or a family business. You should have the right to do with it what you want.

Inheriting a business or a farm isn't really earning it.

And I agree about certain termsand compelling arguments. I used the word "derelict" colorfully. How do you feel about the "more reasonable people" using the word "libtard?" There's only 1002 citations using the search function.

 

[Cuddles]

I think the main issue I see here is people thinking ownership extends post-mortem

 

[Cuddles]

Huh??

The estate tax reduces the max tax rate of anyone below $22 million (couples). Not above.

What kind of crazy tax policy would be to protect people above $22 million?

It's what they're proposing. The bump from 5 to 11 million happened in'17, the new legislation aims to repeal it altogether.

Currently the estate tax only kicks in for wealth inherited in excess of $11.2 million dollars. Until 2017 the threshold was $5.4 million, but Trump’s tax reform of 2017 more than doubled the amount that could be inherited tax-free.

Earlier in the week, however, Republican senators introduced a very different bill to completely repeal the estate tax. Senator John Thune from South Dakota justified the repeal of the state tax by saying “oftentimes family-owned farms and ranches bear the brunt of this tax, which threatens families’ agricultural legacies and makes it difficult and costly to pass these businesses down to future generations.”

 

[TJustice]

Its seem you are presuming the state has a right to the product of ones labor and intellect rather than the family...

That type of attitude leads to Venezuela economies.

I think the main issue I see here is people thinking ownership extends post-mortem

 

[Cuddles]

Its seem you are presuming the state has a right to the product of ones labor and intellect rather than the family...

That type of attitude leads to Venezuela economies.

No, just their cut of the new income for the living recipients.

 

[Wallet]

Its seem you are presuming the state has a right to the product of ones labor and intellect rather than the family...

That type of attitude leads to Venezuela economies.

You know, it's not fair that some people get to inherit and others don't. Time to distribute the wealth.

 

[El OchoCinco]

Raising rates will force more savings and let people earn more over time on fixed income investments.

But it also raises borrowing costs significantly for the majority of people who borrow to live while still within their means and hurts corporate earnings since many do borrow for working capital. It leads to lower stocks markets due to present discount values and capital moving to fixed income securities and dorporate higher cost of borrowing and many people have wealth tied in the stock market (lower to middle class retirement savings).

It is always a double edged sword and never a good balance could be struck because the interest rate pendulum always swings too far one way or the other.

There are equal Pro and Cons so the question is what Pro do you prefer the most. It is hard to nail the middle optimal interest rate.

 

[piezoe]

So why would anyone favor taxing the middle class?
So why would anyone favor inflation and progressive taxation.
So why would anyone be in favor of bringing 1.2 million new people a year to compete for jobs and keep wages down?
Why would you allow 20 million illegal immigrants?


We should be helping the middle class get ahead by not taxing their income and assets and creating policies which cause wage destruction and inflation.

If you want to leave capital with middle class... eliminate income taxes on anyone under say the top.... (.5%) .

Why not consult your local psychologist for answers to your questions?

 

[piezoe]

You know, it's not fair that some people get to inherit and others don't. Time to distribute the wealth.

I have no idea whether cockroaches are disposed to consider the welfare of their fellow cockroaches, but it seems we humans are so afflicted. What to do about it then? -- assuming we are human and not a cockroach.

 

[Wallet]

I have no idea whether cockroaches are disposed to consider the welfare of their fellow cockroaches, but it seems we humans are so afflicted. What to do about it then? -- assuming we are human and not a cockroach.

Spare me the rhetoric.

Tax his land, tax his wage,
Tax his bed in which he lays.
Tax his tractor, tax his mule,
Teach him taxes is the rule.

Tax his cow, tax his goat,
Tax his pants, tax his coat.
Tax his ties, tax his shirts,
Tax his work, tax his dirt.

Tax his chew, tax his smoke,
Teach him taxes are no joke.
Tax his car, tax his grass,
Tax the roads he must pass.

Tax his food, tax his drink,
Tax him if he tries to think.
Tax his sodas, tax his beers,
If he cries, tax his tears.

Tax his bills, tax his gas,
Tax his notes, tax his cash.
Tax him good and let him know
That after taxes, he has no dough.

If he hollers, tax him more,
Tax him until he’s good and sore.
Tax his coffin, tax his grave,
Tax the sod in which he lays.

Put these words upon his tomb,
"Taxes drove me to my doom!"
And when he’s gone, we won’t relax,
We’ll still be after the inheritance tax.

Author Unknown.