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Message
re: IRS collected a gargantuan $7 billion estate tax from a single source, nobody knows who
Posted on 4/19/24 at 1:22 pm to Pelican fan99
Posted on 4/19/24 at 1:22 pm to Pelican fan99
quote:
I don’t see how anyone could think this is ok. T
The lake08 poster said it best
quote:
People that believe in estate taxes have never been on the receiving end of it.
This post was edited on 4/19/24 at 1:23 pm
0
Posted on 4/19/24 at 1:23 pm to PerplenGold
quote:
The federal govt taxing income and then again inheritance has all the makings of double dipping. The inheriting party will be taxed on any subsequent gains or other taxable events once in their possession but the money has already been federally taxed prior to the original earner's death. The sheer act of passing already taxed wealth to another person and generating another taxable event in itself is established only because it's in the tax code. It is double dipping in my opinion.
Only if they're doing it wrong.
There are so many inequities against the working class, that it always makes me laugh whenever they show all this sympathy for those who really couldn't give a shite about them - at best. Why not set the standard deduction at $100,000 or $1,000,000?
Personally, I don't give a shite about the 1% as I'm pretty sure they're capable of taking care of themselves.
Posted on 4/19/24 at 1:32 pm to Scruffy
quote:
It is their property.
No it isn't, it's the dead person's property.
quote:
Why shouldn’t someone be allowed to give their own property to whomever they wish?
They can, before they die. Once they're dead, they can't do shite except decompose.
I'm pretty sure Trump's father transferred most of the wealth that Donald didn't work for before his father died.
But I'm surprised to see so many people ITT arguing for others to get stuff they didn't earn. I thought we were supposed to be a nation of rugged individuals, not just a bunch of trust fund babies.
Posted on 4/19/24 at 1:35 pm to WildTchoupitoulas
(no message)
This post was edited on 5/21/24 at 10:57 am
Posted on 4/19/24 at 1:54 pm to Deactived
quote:
You think he would be able to give his billions to his son before he died without getting taxed?
Check out four ways that Fred Trump made his children rich:
Fred Trump made his son not just his salaried employee but also his property manager, landlord, consultant and banker.
Fred Trump provided money for Donald Trump’s car, money for his employees, money to buy stocks, money for his first Manhattan offices and money to renovate those offices. He gave him shares in multiple partnerships. He gave him $10,000 Christmas checks. He gave him laundry revenue from his buildings. He also gave him trust funds that were used to transfer a majority of Fred Trump’s empire to Donald Trump and his living siblings.
The biggest payday Donald Trump ever got from his father came long after Fred Trump’s death. It happened quietly, without the usual Trumpian news conference, on May 4, 2004, when Donald Trump and his siblings sold off the empire their father had spent 70 years assembling with the dream that it would never leave his family.
Donald Trump’s cut: $177.3 million, or $236.2 million in today’s dollars.
quote:
TDS
Oh, I get it, you're just a closet Politard.
You think I'm judging Trump negatively here. What's revealed is that you're the one providing the value judgment. I'm just providing facts without judgment. I'm describing how rich people can get around paying the tax - legally. If you think it's wrong, don't blame me. Who TF do you think writes the tax code, working class people?
I've inherited enough myself to have basically retired at 57. Now I just run a company to handle family business, hoping that maybe one day it'll break even. But it doesn't really have to. Mostly it needs to limit my personal liability, and provide a write-off.
Posted on 4/19/24 at 1:56 pm to WildTchoupitoulas
Your tds is showing again. You just wrote a novel on trump and no one else is talking about him. Jfc
Posted on 4/19/24 at 2:03 pm to Walt OReilly
quote:
Sorry to hear this…what are your grievances?
I have many many issues with America and its associated BS in 2024.. too many issues to list.. but one of the main things that turns me off about living here and one of the main reasons im making an effort to get out of this matrix in the next couple of years- is the polarization and discourse that’s so bad i cant even have a conversation with some people in my orbit because they are SO far left or SO far right.. i feel like , as someone who’s in the middle (a dying breed in America) and who’s opinion can and does change as new information comes in and evolves- i feel like the #1 problem in America is ‘pick a side’ guy.. “You gotta pick a side brother !!”… it’s so fricked-up and counterproductive that i dont even know how it ends til that type of person just eventually dies off.. Sorry for the novel, and i should probably save it for the PoliBoard.. but you asked , so there it is .
Posted on 4/19/24 at 2:50 pm to WildTchoupitoulas
quote:
You can't punish dead people.
You can punish their heirs, who they worked hard for to leave a life and legacy.
Posted on 4/19/24 at 2:53 pm to BK Lounge
quote:
feel like , as someone who’s in the middle (a dying breed in America)
Oh you’re one those moderate fellas. You guys are smarter than the rest of us so I just appreciate you answering part of my question and teaching me
Who’d you vote for in 2020?
Posted on 4/19/24 at 3:07 pm to HailHailtoMichigan!
Not even a drop in the bucket. We just sent $100b to Ukraine and Israel. And that’s only this month.
Posted on 4/19/24 at 3:12 pm to Deactived
quote:
Your tds is showing again. You just wrote a novel on trump and no one else is talking about him. Jfc
So no one can talk about the Trump family but that they have TDS?
How sensitive of you. The topic is the inheritance tax. I gave an example of how a wealthy family legally avoided paying inheritance tax. Why does that trigger you so much? Do you think what Fred Trump did was wrong somehow? Why so angry?
Posted on 4/19/24 at 3:12 pm to HailHailtoMichigan!
The timeline adds up and old Bob was worth way more than Forbes thought. Considering his issues with the IRS and his affiliation with Robert Smith, I am guessing the inheritors played the estate tax straight.
LINK
LINK
Posted on 4/19/24 at 3:13 pm to WildTchoupitoulas
quote:
How many people receive this,top 2%, 1%? Do we care about them?
Right is right. Regardless of whether it affects me or not.
Posted on 4/19/24 at 3:17 pm to WildTchoupitoulas
quote:
But I'm surprised to see so many people ITT arguing for others to get stuff they didn't earn
It doesn't surprise me that you are surprised that some people think if you earn and save an estate you should be able to leave it to your children.
Anyone who thinks the government should get that money is a piece of shite. It doesn't surprise me that you are in that boat.
Posted on 4/19/24 at 3:18 pm to Pelican fan99
quote:
I don’t see how anyone could think this is ok.
In a nation of rugged individuals, I don't see how you think it's okay to get something for nothing.
I think it would be great if there were no taxes.
But I think it's hysterical that the poor people are gaslit into white knighting for the rich people.
There's so much more that actually affects a lot more people than the inheritance tax. It's amazing that so many people that will never be affected by it fixate on it. I'm sure there's all kinds of shite in the tax code that will never apply to you that you could get bent out of shape over, yet this is the thing that comes up over and over. It's like people have been programmed.
Posted on 4/19/24 at 3:18 pm to WildTchoupitoulas
The focus shouldn't be on the rich.... it should be on a government that believes you owe some chunk of your wealth to it (in addition to some portion your income).
And yes the rich have the means to work around it, which is a waste of their money. Not saying they would use it wisely or to benefit anyone but that is their choice.
and a government that thinks you owe it some wealth at your passing, will begin to think you owe some of your wealth BEFORE you pass.... and we are seeing variations of that idea being tossed about...
And yes the rich have the means to work around it, which is a waste of their money. Not saying they would use it wisely or to benefit anyone but that is their choice.
and a government that thinks you owe it some wealth at your passing, will begin to think you owe some of your wealth BEFORE you pass.... and we are seeing variations of that idea being tossed about...
Posted on 4/19/24 at 3:20 pm to WildTchoupitoulas
So we should only worry about things that affect us personally?
Posted on 4/19/24 at 3:25 pm to HailHailtoMichigan!
Please keep my business off the OT.
Posted on 4/19/24 at 3:28 pm to Walt OReilly
quote:
Who’d you vote for in 2020?
I didnt vote.. i was working outside of the USA at the time, and i thought id given myself enough time to do mail-in voting or absentee or whatever but i got busy with work and didnt make the deadline .. i know, i know- i gave up my right to bitch since i missed one election.. but since this is a message board, ill continue to voice my opinion here, sue me .. also , the issues i mentioend all go WAY beyond just one election …. Also,, the fact that this is the only thing you cherry-picked from my whole post :
quote:
Oh you’re one those moderate fellas. You guys are smarter than the rest of us so I just appreciate you answering part of my question and teaching me
.. tells me everything i need to know about you.. you completely ignored every point i tried to make other than the one you quoted.. It’s ok, i wont stop you from pushing whatever agenda or narrative you are here to push .. i know your type need “safe spaces .”
Posted on 4/19/24 at 3:28 pm to WildTchoupitoulas
quote:
. It's amazing that so many people that will never be affected by it fixate on it.
its the topic of the thread
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