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Old 08-19-2016, 01:10 PM
 
4,983 posts, read 3,289,096 times
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Generational wealth is a wonderful thing. Until it reaches the generation that blows it.

Government should allow this natural process to occur without interruption.
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Old 08-19-2016, 01:19 PM
 
20,706 posts, read 19,349,208 times
Reputation: 8278
Quote:
Originally Posted by lilyflower3191981 View Post
If you decided to give your son $14,000 cash gift, do you think he should pay tax?

If he says no it should be taxed twice because he gave it back...

Don't you think it passed the absurdity test?
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Old 08-19-2016, 01:22 PM
 
Location: Chicago, IL
9,701 posts, read 5,109,464 times
Reputation: 4270
Quote:
Originally Posted by lilyflower3191981 View Post
If you decided to give your son $14,000 cash gift, do you think he should pay tax?
Yes, but I'm okay with there being a tax-free ceiling. $5M is well above that ceiling.
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Old 08-19-2016, 01:25 PM
 
Location: Newport Beach, California
39,208 posts, read 27,575,665 times
Reputation: 16046
Quote:
Originally Posted by EddieB.Good View Post
Yes, but I'm okay with there being a tax-free ceiling. $5M is well above that ceiling.
Why? what difference does it make?

$14,000 is income according to you

$5 Million is income according to you.

If it is income, it should be taxed, unless you are the taxation is theft crowd (YOUR words, not mine)
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Old 08-19-2016, 01:30 PM
 
20,706 posts, read 19,349,208 times
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Quote:
Originally Posted by EddieB.Good View Post
Until you clarify how an inheritance isn't income, all my points still stand. If you're not part of the taxes are theft crowd, then you're just a hypocrite.

Awe Eddie, ....see the first problem you have is with your accepted premise. I reject the income tax premise. What makes an income tax legitimate? I am against all income taxes because they are Marxist , redistribution schemes. Income by labor should not be taxed. Capital is just old labor, and should not be taxed. Economic rent is entirely a result of the government and I, just like Adam Smith ,Ricardo, JS Mill and a while host of other people , believe it is the most legitimate source of revenue along other fees associated with the benefits of government service.

Again I asked a simple question, which no one in this forum seems equipped to answer. Who should pay for my ice cream cone, your grandma, you , the postman, a random person, or me?



So go ahead and convince me why an income tax is just, and why poor people five thousand miles away do not have a right to your stuff , and see if you can do it without being a hypocrite.

Thus i fundamentally believe that those that receive a good or service should pay,...with perhaps a special outlay for charity, but that is not a tax question.
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Old 08-19-2016, 01:33 PM
 
20,706 posts, read 19,349,208 times
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Quote:
Originally Posted by EddieB.Good View Post
Yes, but I'm okay with there being a tax-free ceiling. $5M is well above that ceiling.

Oh so its just the old tax the rich crap. Why didn't you say so? Then I could just laugh and laugh.


I am trying a little new thing here. What were the last 5 books you read?
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Old 08-19-2016, 01:35 PM
 
Location: Chicago, IL
9,701 posts, read 5,109,464 times
Reputation: 4270
Quote:
Originally Posted by lilyflower3191981 View Post
Why? what difference does it make?

$14,000 is income according to you

$5 Million is income according to you.

If it is income, it should be taxed, unless you are the taxation is theft crowd (YOUR words, not mine)
You're misunderstanding me. It's ALL income, I'm just okay with there being a tax-free range on that sort of income.
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Old 08-19-2016, 01:37 PM
 
20,706 posts, read 19,349,208 times
Reputation: 8278
Quote:
Originally Posted by EddieB.Good View Post
You're misunderstanding me. It's ALL income, I'm just okay with there being a tax-free range on that sort of income.

Based on what principle?
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Old 08-19-2016, 01:43 PM
 
13,510 posts, read 17,028,088 times
Reputation: 9691
Quote:
Originally Posted by Tyster View Post
Someone who inherits money is not inheriting "the countries wealth". That money is not collectively owned. It's owned by the giver... a single person. And it's private property, not public property.

Progressives want to take ownership of everything while simultaneously arguing the nobody else really actually owns anything.

Yeah, that wasn't what I said, but in the simple minded "taxes are theft and progressives want to take my trailer" mindset, it all turns to that.

The country has advanced infrastructure, a well function judiciary and government. These things allow the wealthy to maintain their wealth and expand on it, and therefore their tax money should fund it more proportional to their wealth.

..yet somehow angry white working class guys feel some sort of fraternity with the 1%, spouting rhetoric about poor people stealing their money via the government and other nonsense. Congratulations Rush, you've turned the white working man into your fool.
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Old 08-19-2016, 01:51 PM
 
20,706 posts, read 19,349,208 times
Reputation: 8278
Quote:
Originally Posted by dman72 View Post
Yeah, that wasn't what I said, but in the simple minded "taxes are theft and progressives want to take my trailer" mindset, it all turns to that.

The country has advanced infrastructure, a well function judiciary and government. These things allow the wealthy to maintain their wealth and expand on it, and therefore their tax money should fund it more proportional to their wealth.
Now we are getting somewhere. Very well done, dman. Though I would ask why not just tax that directly instead of taxing a surgeon's salary ?


Quote:
..yet somehow angry white working class guys feel some sort of fraternity with the 1%, spouting rhetoric about poor people stealing their money via the government and other nonsense. Congratulations Rush, you've turned the white working man into your fool.

Mostly because they just don't have a clue other than paying crappy taxes.



Now back to your point: Why is this house worth so little and does it have anything to do with what the owner did?


Houses given away for free in Detroit - CNN.com
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