Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I'm not for many tax cuts for the wealthy but I do question the estate tax.
Someone makes a million dollars in a year and gets taxed on that. He dies. That money was taxed...and then they get a bonus tax income from taxing it to the people that are in the estate.
That doesn't make sense. And as someone pointed out -- that million dollar gain in real estate value only gets realized when it is sold and then that's when the tax should be paid. If the family keep the house and no one really gets the gain in cash value -- it's not real....until the house is sold.
Nah -- the estate tax is a funny thing.
Am I missing something.
Don't lecture me on googling I did...and I see that their is an exemption. The lifetime exclusion amount against the estate tax for 2017 is $5.49 million, up $40,000 from 2016. That is the maximum size of taxable estate that can escape tax for those who die in 2017.
But it is shady that just because you are rich they get to double dip with taxes no? I'm definitely losing my liberal status (never really had it by my perception but to many of you I'm a screaming liberal because I think Trump is a creep).
We all pay taxes several times on the same money. We pay state and federal taxes when we earn the money. Sales tax when we spend it. Property taxes on the homes we live in. Even our cars get taxed every year.
So cry me a river about the wealthy only getting to shield $5.4 million in estate taxes.
We all pay taxes several times on the same money. We pay state and federal taxes when we earn the money. Sales tax when we spend it. Property taxes on the homes we live in. Even our cars get taxed every year.
So cry me a river about the wealthy only getting to shield $5.4 million in estate taxes.
Remember, it's over 10 million per couple! That's in addition to all the other trusts and various schemes. The only one pay estate taxes are the Waltons and GWB put this bill into place expressly for them last time.
What part of "we need the money" doesn't Trump understand? He is destroying much of the economy (slowest growth in 3 years first quarter) and yet sitting around trying to give billionaires more money from deficit. Whatever happened to paying off some debt and cutting the deficit. After 8 years of hearing about it almost daily it now seems to have gone away.....
Hypocrites. At least if they have a consistent plan to collect MORE in taxes and pay off debt and deficit they could call themselves "conservatives". As it stands they can only call themselves selfish.
How about the government live within its means and not take an ever increasing larger amount from people just to run? When I see the crap that the feds waste billions on it sure does not make me want to open my wallet further.
The thing is....trickle down does not work when there's a mighty river going up to the top..and the barest trickle flowing back into the system.
The 1% sequester their wealth--and the bulk of it never reaches the bottom again.
The inheritance tax is a very convenient spot to redirect the flow to the roots..the working, producing class.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
