Posted by wylie715 on 2/8/2019 12:48:00 PM (view original):

Posted by cccp1014 on 2/8/2019 12:17:00 PM (view original):

Posted by tangplay on 2/8/2019 11:36:00 AM (view original):

Posted by all3 on 2/8/2019 10:59:00 AM (view original):

Posted by bronxcheer on 2/8/2019 9:57:00 AM (view original):
Or inherited it

So when people die, you want to dictate what happens to their $ instead of honoring their wishes?
Inherited $ was still earned by somebody at some point, yes, unless it's Lottery $.

Great. Why should their kids get a huge advantage because their fathers were rich?

Because that’s the reason their parents work so hard. I work Hard so that my kids may have a better life. What a stupid statement that was Tangplay. Idiotic even. I work hard for my kids. Why is that wrong? I dont work hard so that lazy losers can take my hard earned earnings.

Have to agree with cccp on this one. My mom worked hard all her life, but made no effort to save any money for her retirement. (She actually told my sister that she was going to enjoy her life and not worry about later.) Now, she is 89 years old and (hopefully temporarily) in a situation where she needs 24 hour/day care. Guess what? She has no money other than her social security and can't afford it. Guess who is stuck paying for it? I told my son last night, that his mother and I would never put him and his siblings in that situation. It sucks and it is unfair to me and my siblings. My mother expects us to pay for her care because she didn't plan for the future. I won't do that to my kids.

Empathy is a powerful and important human emotion. But it’s also the reason why people think about issues like estate taxes through their own situations without understanding the actual context of the tax.

First, pre-trump tax cuts, estate taxes only applied to a tiny sliver of the population and only on amounts greater than $5m (not including life insurance or assets held in a trust) per person inheriting the money. So, for example, Jim has an estate worth $20 million. Jim has two adult children who are married.

Jim dies and, because of advisor malpractice, his estate isn’t in a trust.

Each of Jim’s two kids inherit $10m each...but wait, they’re married, so each kid actually inherits $5m each, their spouses inherit $5m each and no federal estate taxes are paid.

You have to be very, very wealthy for your heirs to actually pay estate taxes.

And even for them, the question of “is that fair” is clearly YES.

Everyone else in the country has to pay taxes on the money they bust their ***** to earn everyday. You certainly should have to pay taxes on set-for-life wealth that just drops into your lap.

Posted by bad_luck on 2/8/2019 1:04:00 PM (view original):

Posted by wylie715 on 2/8/2019 12:48:00 PM (view original):

Posted by cccp1014 on 2/8/2019 12:17:00 PM (view original):

Posted by tangplay on 2/8/2019 11:36:00 AM (view original):

Posted by all3 on 2/8/2019 10:59:00 AM (view original):

Posted by bronxcheer on 2/8/2019 9:57:00 AM (view original):
Or inherited it

So when people die, you want to dictate what happens to their $ instead of honoring their wishes?
Inherited $ was still earned by somebody at some point, yes, unless it's Lottery $.

Great. Why should their kids get a huge advantage because their fathers were rich?

Because that’s the reason their parents work so hard. I work Hard so that my kids may have a better life. What a stupid statement that was Tangplay. Idiotic even. I work hard for my kids. Why is that wrong? I dont work hard so that lazy losers can take my hard earned earnings.

Have to agree with cccp on this one. My mom worked hard all her life, but made no effort to save any money for her retirement. (She actually told my sister that she was going to enjoy her life and not worry about later.) Now, she is 89 years old and (hopefully temporarily) in a situation where she needs 24 hour/day care. Guess what? She has no money other than her social security and can't afford it. Guess who is stuck paying for it? I told my son last night, that his mother and I would never put him and his siblings in that situation. It sucks and it is unfair to me and my siblings. My mother expects us to pay for her care because she didn't plan for the future. I won't do that to my kids.

Empathy is a powerful and important human emotion. But it’s also the reason why people think about issues like estate taxes through their own situations without understanding the actual context of the tax.

First, pre-trump tax cuts, estate taxes only applied to a tiny sliver of the population and only on amounts greater than $5m (not including life insurance or assets held in a trust) per person inheriting the money. So, for example, Jim has an estate worth $20 million. Jim has two adult children who are married.

Jim dies and, because of advisor malpractice, his estate isn’t in a trust.

Each of Jim’s two kids inherit $10m each...but wait, they’re married, so each kid actually inherits $5m each, their spouses inherit $5m each and no federal estate taxes are paid.

You have to be very, very wealthy for your heirs to actually pay estate taxes.

And even for them, the question of “is that fair” is clearly YES.

Everyone else in the country has to pay taxes on the money they bust their ***** to earn everyday. You certainly should have to pay taxes on set-for-life wealth that just drops into your lap.

Your arguments are always based on rare cases until it’s not convenient for you. If I leave my kids $1mil they should have access to all of it as I already paid taxes on it. Double taxation is idiotic. Like tangplay’s posts.

Posted by cccp1014 on 2/8/2019 1:58:00 PM (view original):

Posted by bad_luck on 2/8/2019 1:04:00 PM (view original):

Posted by wylie715 on 2/8/2019 12:48:00 PM (view original):

Posted by cccp1014 on 2/8/2019 12:17:00 PM (view original):

Posted by tangplay on 2/8/2019 11:36:00 AM (view original):

Posted by all3 on 2/8/2019 10:59:00 AM (view original):

Posted by bronxcheer on 2/8/2019 9:57:00 AM (view original):
Or inherited it

So when people die, you want to dictate what happens to their $ instead of honoring their wishes?
Inherited $ was still earned by somebody at some point, yes, unless it's Lottery $.

Great. Why should their kids get a huge advantage because their fathers were rich?

Because that’s the reason their parents work so hard. I work Hard so that my kids may have a better life. What a stupid statement that was Tangplay. Idiotic even. I work hard for my kids. Why is that wrong? I dont work hard so that lazy losers can take my hard earned earnings.

Have to agree with cccp on this one. My mom worked hard all her life, but made no effort to save any money for her retirement. (She actually told my sister that she was going to enjoy her life and not worry about later.) Now, she is 89 years old and (hopefully temporarily) in a situation where she needs 24 hour/day care. Guess what? She has no money other than her social security and can't afford it. Guess who is stuck paying for it? I told my son last night, that his mother and I would never put him and his siblings in that situation. It sucks and it is unfair to me and my siblings. My mother expects us to pay for her care because she didn't plan for the future. I won't do that to my kids.

Empathy is a powerful and important human emotion. But it’s also the reason why people think about issues like estate taxes through their own situations without understanding the actual context of the tax.

First, pre-trump tax cuts, estate taxes only applied to a tiny sliver of the population and only on amounts greater than $5m (not including life insurance or assets held in a trust) per person inheriting the money. So, for example, Jim has an estate worth $20 million. Jim has two adult children who are married.

Jim dies and, because of advisor malpractice, his estate isn’t in a trust.

Each of Jim’s two kids inherit $10m each...but wait, they’re married, so each kid actually inherits $5m each, their spouses inherit $5m each and no federal estate taxes are paid.

You have to be very, very wealthy for your heirs to actually pay estate taxes.

And even for them, the question of “is that fair” is clearly YES.

Everyone else in the country has to pay taxes on the money they bust their ***** to earn everyday. You certainly should have to pay taxes on set-for-life wealth that just drops into your lap.

Your arguments are always based on rare cases until it’s not convenient for you. If I leave my kids $1mil they should have access to all of it as I already paid taxes on it. Double taxation is idiotic. Like tangplay’s posts.

There is no estate tax on $1M.

Posted by bad_luck on 2/8/2019 1:59:00 PM (view original):

Posted by cccp1014 on 2/8/2019 1:58:00 PM (view original):

Posted by bad_luck on 2/8/2019 1:04:00 PM (view original):

Posted by wylie715 on 2/8/2019 12:48:00 PM (view original):

Posted by cccp1014 on 2/8/2019 12:17:00 PM (view original):

Posted by tangplay on 2/8/2019 11:36:00 AM (view original):

Posted by all3 on 2/8/2019 10:59:00 AM (view original):

Posted by bronxcheer on 2/8/2019 9:57:00 AM (view original):
Or inherited it

So when people die, you want to dictate what happens to their $ instead of honoring their wishes?
Inherited $ was still earned by somebody at some point, yes, unless it's Lottery $.

Great. Why should their kids get a huge advantage because their fathers were rich?

Because that’s the reason their parents work so hard. I work Hard so that my kids may have a better life. What a stupid statement that was Tangplay. Idiotic even. I work hard for my kids. Why is that wrong? I dont work hard so that lazy losers can take my hard earned earnings.

Have to agree with cccp on this one. My mom worked hard all her life, but made no effort to save any money for her retirement. (She actually told my sister that she was going to enjoy her life and not worry about later.) Now, she is 89 years old and (hopefully temporarily) in a situation where she needs 24 hour/day care. Guess what? She has no money other than her social security and can't afford it. Guess who is stuck paying for it? I told my son last night, that his mother and I would never put him and his siblings in that situation. It sucks and it is unfair to me and my siblings. My mother expects us to pay for her care because she didn't plan for the future. I won't do that to my kids.

Empathy is a powerful and important human emotion. But it’s also the reason why people think about issues like estate taxes through their own situations without understanding the actual context of the tax.

First, pre-trump tax cuts, estate taxes only applied to a tiny sliver of the population and only on amounts greater than $5m (not including life insurance or assets held in a trust) per person inheriting the money. So, for example, Jim has an estate worth $20 million. Jim has two adult children who are married.

Jim dies and, because of advisor malpractice, his estate isn’t in a trust.

Each of Jim’s two kids inherit $10m each...but wait, they’re married, so each kid actually inherits $5m each, their spouses inherit $5m each and no federal estate taxes are paid.

You have to be very, very wealthy for your heirs to actually pay estate taxes.

And even for them, the question of “is that fair” is clearly YES.

Everyone else in the country has to pay taxes on the money they bust their ***** to earn everyday. You certainly should have to pay taxes on set-for-life wealth that just drops into your lap.

Your arguments are always based on rare cases until it’s not convenient for you. If I leave my kids $1mil they should have access to all of it as I already paid taxes on it. Double taxation is idiotic. Like tangplay’s posts.

There is no estate tax on $1M.

Bingo. But your fellow Leftist tangplay believes there should be as do you. Correct?

I don’t. $1m could easily be one single family home where I live. A $1m house isn’t set for life wealth.

Posted by bad_luck on 2/8/2019 2:37:00 PM (view original):
I don’t. $1m could easily be one single family home where I live. A $1m house isn’t set for life wealth.

We agree holy moly

I don't care if they inherit $1M or $1B, no one has the right to strip it from them. That is thievery regardless of how you twist it in your mind.

agreed. If I leave my kids $5,000,000 (I wish! as do they) I already paid taxes on it. Why should they have to pay taxes on it again?

Posted by wylie715 on 2/8/2019 3:20:00 PM (view original):
agreed. If I leave my kids $5,000,000 (I wish! as do they) I already paid taxes on it. Why should they have to pay taxes on it again?

Technically, they wouldn’t. They would pay taxes on dollars inherited over $5.x million (pre-trump, I think it’s $10m now)

so, why should they pay taxes again on any amount whether it is $10 million or $50 million, if I already paid taxes on the money?

Posted by wylie715 on 2/8/2019 3:33:00 PM (view original):
so, why should they pay taxes again on any amount whether it is $10 million or $50 million, if I already paid taxes on the money?

Why do I have to pay taxes on my income when the people who buy from me already paid taxes on the money they are paying me?

Because we tax money when it moves from person to person.

Posted by bad_luck on 2/8/2019 3:37:00 PM (view original):

Posted by wylie715 on 2/8/2019 3:33:00 PM (view original):
so, why should they pay taxes again on any amount whether it is $10 million or $50 million, if I already paid taxes on the money?

Why do I have to pay taxes on my income when the people who buy from me already paid taxes on the money they are paying me?

Because we tax money when it moves from person to person.

Should not be the case for family members and there are exceptions

Posted by cccp1014 on 2/8/2019 5:51:00 PM (view original):

Posted by bad_luck on 2/8/2019 3:37:00 PM (view original):

Posted by wylie715 on 2/8/2019 3:33:00 PM (view original):
so, why should they pay taxes again on any amount whether it is $10 million or $50 million, if I already paid taxes on the money?

Why do I have to pay taxes on my income when the people who buy from me already paid taxes on the money they are paying me?

Because we tax money when it moves from person to person.

Should not be the case for family members and there are exceptions

Well, that is the case for family members. Even living family members have to pay gift taxes if the give more than a certain amount.

Posted by bad_luck on 2/8/2019 6:06:00 PM (view original):

Posted by cccp1014 on 2/8/2019 5:51:00 PM (view original):

Posted by bad_luck on 2/8/2019 3:37:00 PM (view original):

Posted by wylie715 on 2/8/2019 3:33:00 PM (view original):
so, why should they pay taxes again on any amount whether it is $10 million or $50 million, if I already paid taxes on the money?

Why do I have to pay taxes on my income when the people who buy from me already paid taxes on the money they are paying me?

Because we tax money when it moves from person to person.

Should not be the case for family members and there are exceptions

Well, that is the case for family members. Even living family members have to pay gift taxes if the give more than a certain amount.

There are loopholes for buying your first home, etc. Makes no sense for the Govt to tax a family grieving over a death of a loved one. At least not to me.

Posted by bad_luck on 2/8/2019 3:37:00 PM (view original):

Posted by wylie715 on 2/8/2019 3:33:00 PM (view original):
so, why should they pay taxes again on any amount whether it is $10 million or $50 million, if I already paid taxes on the money?

Why do I have to pay taxes on my income when the people who buy from me already paid taxes on the money they are paying me?

Because we tax money when it moves from person to person.

what do you mean "we"? I don't tax anything. (Except my wife's patience one in a while). And again, just because that is how it is done, that does not make it right. Also, people are paying you for whatever service you are providing. If I leave money to my kids, they are not purchasing anything from me. It is not the same.