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Yes. In the new law, estate worth over $11 million will not be taxed one penny.
Quote:
Originally Posted by PedroMartinez
They were already taxed. Why tax it again other than envy?
I am quite aware of the knee-jerk response, 'it was already taxes.' Sadly, it wasn't already taxed.
Example:
Trump buys a building for $100 million. Five years later he sells it for $200 million. Presuming he was taxed on the original $100 million (which is a long stretch) he wasn't taxed on the appreciation of $100 million ($200 million minus $100 million). Most of what is taxed under the estate tax is what is called "unrealized gains." Thus, that "already been taxed' is merely a fallacy that I am sure shills for the wealthy will use again.
My question is, why do we get so many middle class posters here shilling that the rich -- who have their own lobbyists and attorneys shilling for them for money?
What policies did Obama support and what laws did Obama sign that raised our debt by $8 trillion dollars?
(But you and every republican in this country could not answer the above question.)
He signed a bill into law that gave him nearly 1 trillion dollars to spend in his first months in office, which was used to reward campaign supporters. He signed a disastrous health care law that created nearly 1 trillion A YEAR in additional spending (the amount the Repub tax relief will add in 10 YEARS). He started wars in Libya and did nothing to get us out of Afghanistan. He spent billions arming Islamic terrorists. Those were a start.
Unfortunately, this is what happens. The GOP passes all types of damaging legislation when they’re in power. The voters revolt and elect democrats. All the consequences of the GOP’s deranged legislation takes effect while democrats are in power. The GOP then runs on a platform of how the dems have destroyed America.
And then the deranged legislation passed by Democrats bring Republicans back into power.
Last edited by PedroMartinez; 12-02-2017 at 08:40 AM..
Exactly what have Democrats blocked Trump from doing?
They have sat on their hands for nearly everything he has proposed.
They have been very active in discrediting him at every turn.
Look at the legal battle it took to slow travel from the 6 countries that Obama himself deemed to be a threat of bringing terrorism to us. It seemed like a no brainer to stop travel between countries that we though technically are not at war with we are actually at war with. What are we doing in the Middle East? Is it a war or a police action? Is it a vote in the Senate that prevents us from calling it a war thus treating the country itself as an enemy?
We don't have a way to easily distinguish the terrorists from the average person without violating their rights but we all know the carnage that one determined jihadist can do on a crowded city street or a handful on a passenger plane.
It was common sense to implement a travel pause but the powers of the President was undermined by the feel good court.
It is the Dems plan to continue to resist and block Trumps ideas until in their dreams he is impeached or until the end of his term meanwhile the country is in limbo.
Focusing on one aspect of the bill is a red herring.
First, the bill gives tax breaks to golf course owners specifically. Know anybody famous who has a golf course?
Second, if one is a grad student receiving $50,000 in tuition assistance is now considered income, subject to tax -- but the student doesn't have the actual money because it's paid to the school.
Third, most state and local taxes go to education, Medicaid and running the operations of a state, like police. High tax states value these services and provide them. How, you are saying we should cut them to match states that don't share our value in education or care to the agid.
I have a shocking alternative: Why not get rid of the provision eliminating the estate tax, the carried interest provision that only benefits hedge fund managers and the golf course loophole?
It should be obvious that the Senate and House run by the Republicans only care about catering to the rich and powerful. Joe Biden said, “Don't tell me what you value, show me your budget, and I'll tell you what you value.” We can see in black and white that Republicans value hedge fund managers, golf Course owners, and people with estates over middle class taxpayers that pay mortgage interest and state and local taxes, amount many other atrocious provisions.
Joe Biden once said, "Don't tell me what you value, show me your budget, and I'll tell you what you value.” We clearly see that the Republicans favor the rich over the middle class voters that elected them.
Re: bold: Senator Sanders expanded on the 'values' being debated:
Quote:
...As we speak, there are lobbyists all over Capitol Hill writing down in handwriting, amendments to this bill to give hundreds of millions, if not billions in tax breaks, billions of dollars in tax breaks to large corporations.
As we speak, they're probably still writing those amendments.
Meanwhile, the Republican-led Senate has been unable to reauthorize the CHIP program, the health insurance program for low-income children. Didn't have enough time to do that. We have been unable to reauthorize the community health center program, providing 27 million people with health insurance. We don't have the time to do that.
But tonight, we are presumably going to pass legislation, when at a time of massive income and wealth inequality, 62% of the tax benefits go to the top 1%. ...
Sanders: This Tax Bill Will Be Remembered As One Of The Greatest Robberies In American History
It’s sad how much people care about liberal “outrage” instead of the facts
They've been brainwashed to hate "liberals" (whatever they imagine that to be) so thoroughly that they'd sell their first-born child rather than vote Democrat. When your mind has been steeped in the lies and hate of FOX, Breitbart, etc., for years. . . . "liberals," rather than thieving sociopathic billionaires, become the "enemy."
Trump had a meeting the other day that Schumer and Pelosi were invited to and they didn't even show up.
Is it possible that Trump wanted to talk to them about this bill?
No doubt Chuck and Nancy wouldn't have had any positive input anyways.
When are the Dems going to get involved and stop resisting and blocking Trump.
We would all be better off if they all worked together.
They are being petty and we as a country are hurting.
Trump insulted them and said there wouldn't be a deal anyway. It seems Republicans think "get involved" and rubber stamp everything Trump wants are the same thing. They are not.
Republicans do not want to "work" with Democrats. Republicans want to RULE the majority of the country. 2018 cannot come soon enough and just wait for the Senate in 2020 when elections are far more favorable to Democrats. I am so looking forward to seeing Republican losses and honestly, when the "rocket fuel"/trickle down doesn't happen, it will be hard to feel bad for the victims.
Location: Born & Raised DC > Carolinas > Seattle > Denver
9,338 posts, read 7,111,956 times
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Republican lawmakers have no shame. What a sad day for our country.
Trump supporters celebrate "a great victory over dems" because they are party over country.
Many middle-class and poor Trump supporters will see their taxes go UP. But they don't care about that, as long as they can scream "haha suck It dems!"
Meanwhile, billionaires like Trump get massive tax cuts.
I figure that when this Tax takes effect in 2018 or 19 the majority of Americans that see their total taxes increase will result in a significant change in the makeup of our Congress and, hopefully, state and local legislatures from Republicans terrified of their Donors to Democrats concerned with the rest of us.
Note: If the Republicans had defeated this bill who would their donors continue to bribe for their own financial benefit? Democrats?
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