Obama to announce increase in taxes for businesses and wealthy

[gnome]

Quote from Thunderdog:

And so, the name calling begins. I used to think you were better than that. Even so, thanks for the insight. But where was all your piss and vinegar when the exemption was only $1 million?

You mean the Estate Tax exemption? I've believe all along that Estate Taxation is immoral.

Socialist is "name calling"? Your economic and political views have identified you as Socialist, don't you think?

 

[Landis82]

Quote from AlpineTrout:

The federal government's responsibility is not to create opportunity. Individual people create opportunity. The federal government is here to protect individual and company rights, maintain a military, make coinage, maintain infrastructure and a few other misc. things. Other than that, they are stepping out of bounds.

Agreed 100%

 

[AlpineTrout]

Quote from Thunderdog:

It helps create the environment for opportunity.

I honestly think that some liberals like yourself mean well. I really do, but it's the give, give, give, mentality, along with the less personal responsibility mentality, and the feds desire for more power/control that has led to the chart that traderdragon posted, as well as other problems.

 

[Pa(b)st Prime]

Quote from Thunderdog:

In an effort to discourage dynastic, unearned wealth which can occur over time and with compounding, thereby dramatically skewing the socioeconomic composition of the country at an accelerating pace, and which generally spoils the heirs who didn't work for it or earn it in the first place. And the tax would kick in after a reasonable level under Obama's plan. It's actually good policy. You complain that people on welfare are discouraged from earning a living, but you want excessive privilege to be passed down unfettered to heirs who will also be discouraged to work? Where's the logic in that?

Yes, it may be "double taxation" but it is the cost of having the incredible opportunity to create such wealth in the first place. Further, the government needs to balance its budget and begin paying down the national debt. If taxes must be paid, then estate taxes should not be overlooked. Unless, of course, you'd just like to see the social net, school systems and so on cut away so that the US can go Third World.

Simply unbelievable how duplicitous you are. Truly shameless. As a CANADIAN you live in a country WITHOUT an estate tax yet you have the nerve to come on this thread and preach to American's the virtue of the death tax.


And to Cutten and MVIC: I agree "double taxation" is a weak argument. EVERYTHING is double (or more) taxation. Landis is also right though. It's the RATE that's obscene. Hell a dying parent could just write you a check for "services" and your tax on it as earned income would save you a ton vs. the money being taxed as an estate. It's nuts. The death tax should probably have no exemption and be identical to the cap gains rate......

 

[Landis82]

Quote from Pa(b)st Prime:

Simply unbelievable how duplicitous you are. Truly shameless. As a CANADIAN you live in a country WITHOUT an estate tax yet you have the nerve to come on this thread and preach to American's the virtue of the death tax.

Damn Pabst, I love it when you use words like duplicitous!

 

[Landis82]

Quote from Pa(b)st Prime:

Landis is also right though.
It's the RATE that's obscene.

Hell a dying parent could just write you a check for "services" and your tax on it as earned income would save you a ton vs. the money being taxed as an estate. It's nuts.

Agreed 100%

 

[Thunderdog]

Quote from Pa(b)st Prime:

Simply unbelievable how duplicitous you are. Truly shameless. As a CANADIAN you live in a country WITHOUT an estate tax yet you have the nerve to come on this thread and preach to American's the virtue of the death tax...

If you had asked me whether Canada should have a similar estate tax to that proposed by the Obama administration, then I would have said yes. There is no duplicity here. Merely a false inference on your part.

 

[Rtrader2525]

Quote from Pa(b)st Prime:

Simply unbelievable how duplicitous you are. Truly shameless. As a CANADIAN you live in a country WITHOUT an estate tax yet you have the nerve to come on this thread and preach to American's the virtue of the death tax.


And to Cutten and MVIC: I agree "double taxation" is a weak argument. EVERYTHING is double (or more) taxation. Landis is also right though. It's the RATE that's obscene. Hell a dying parent could just write you a check for "services" and your tax on it as earned income would save you a ton vs. the money being taxed as an estate. It's nuts. The death tax should probably have no exemption and be identical to the cap gains rate......

Thank you Pabst, Landis and Alpine. All great points indeed. Talk about an awful tax. By the time you cash your chips in 3.5 mil in assets really isn't that much. What about the farmers and ranchers? Where I am at a 3.5 million ranch or farm is about 3000 k acres give or take. Fairly easy to accumulate something like that over a lifetime or to have it passed down. It doesn't create any opportunities for people to do stuff like this. It encourages develpoment in areas where there probably shouldn't be.

 

[Cesko]

Quote from Thunderdog:

If you had asked me whether Canada should have a similar estate tax to that proposed by the Obama administration, then I would have said yes. There is no duplicity here. Merely a false inference on your part.

I don't think you will have problems with canadian authorities if you include them in your will.

 

[Thunderdog]

Quote from AlpineTrout:

I honestly think that some liberals like yourself mean well. I really do, but it's the give, give, give, mentality, along with the less personal responsibility mentality...

I am neither on welfare nor on unemployment insurance, however I believe in the absolute necessity of both when properly applied. And what are your views regarding companies that outsourced jobs and laid off domestic employees, essentially telling them to pick themselves up by their own bootstraps -- the same corporate tools who wish to privatize their profits but socialize their losses, as the new saying goes. Can you imagine the impudence? The cheek?

I believe it is in everyone's interest for there to be a safety net at the bottom rung. It is also the right thing to do. As an atheist, I find it less than amusing that some republicans use the bible (and flag) as nothing more than a prop and only when it serves their purpose to do so.