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Your girlfriend makes $100K? Marry that woman! What the heck is wrong with you? LOL
No kidding! Problem solved.
Man I hate taxes. I actually did better as a single person. Much better.
We do ours with one of those computer programs. When I enter my info, it's all good. Nice refund. Then......... I enter spouse's info...... BOOM! We owe a grand.
Unless you have several kids and an even lower income than mine, married with children does nothing for you tax-wise.
And easily avoidable as well by keeping wealth in company names and trusts..
....Loopholes that need to be closed. Yea, that company Porsche bought under Bull****, LLC. That kind of stuff needs to go. It never will go as long as the lobbying persists in Congress, however.
What are you looking for, a pat on the ass? Most Americans don't share your view of wealth entitlement. Pay your fair share and stop arguing that working class citizens should pay for your lifestyle.
Quote:
Originally Posted by pghquest
So now you think its ok that the rich avoid taxes? Then why do you spend so much time moaning about it?
I have no objection to rich donating their wealth to legitimate charitable foundations. Like I said, they are putting it to better use than the government can (generally).
And easily avoidable as well by keeping wealth in company names and trusts..
Actually not they will get at trusts usually through some combo of statutes and companies by definition have shareholders so while you can play valuation games for it to really work control is an issue. It is easily avoidable though because the credits are quite high.
The fact is the estate tax is fairly solid in terms of loopholes aside from 3 big ones that make it like a sieve which are the tax free annual per donee exception, the unified credit, and valuation tricks.
When I heard about some potential legislation to place more tax burden on single people without kids recently, I flipped my lid. The US tax system is so unfairly balanced right now, and it is pushing me out of the middle class into poverty.
It is doing exactly as it is meant to do. Vote for smaller government and never vote for anyone who claims that higher taxes is the answer.
Actually not they will get at trusts usually through some combo of statutes and companies by definition have shareholders so while you can play valuation games for it to really work control is an issue. It is easily avoidable though because the credits are quite high.
The fact is the estate tax is fairly solid in terms of loopholes aside from 3 big ones that make it like a sieve which are the tax free annual per donee exception, the unified credit, and valuation tricks.
like i said, we pass a 10 percent annual wealth tax and close the loopholes. if he tries to jump around the loopholes and dodge you throw him in prison. that will bring the money in.
you dont wait till he dies, you put a wealth tax on him now and closing the loopholes to prevent him from putting it in company names and trusts.
tax his wealth at 10 percent annually is the way to go about it.
There is no mechanism to tax wealth because wealth values are subjective. Value is determined by selling an asset, not some arbitrary made up figure.
Quote:
Originally Posted by ErikBEggs
....Loopholes that need to be closed. Yea, that company Porsche bought under Bull****, LLC. That kind of stuff needs to go. It never will go as long as the lobbying persists in Congress, however.
Not taxing wealth, isnt a loophole, and I'm unaware of tax credits to buy company porsches.. Can you point it out to me, I'd love to buy a new one..
Quote:
Originally Posted by ErikBEggs
What are you looking for, a pat on the ass? Most Americans don't share your view of wealth entitlement. Pay your fair share and stop arguing that working class citizens should pay for your lifestyle.
I'm following the tax code. The fact that you dont want to listen to how people like me use the tax code, to make adjustments, while stand there whining and whining about it, isnt really my concern.
Why do you want me to pay "my fair share" but have no problem with 1/2 the nation PAYING ZERO? while you stand here and demand those that do pay, shoudl pay more.
Thats the asinine crap I point out non stop with people like you.
Quote:
Originally Posted by ErikBEggs
I have no objection to rich donating their wealth to legitimate charitable foundations. Like I said, they are putting it to better use than the government can (generally).
I agree, so why then do you insist people give so much money to government if leaving it in the private sector is better?
Quote:
Originally Posted by Egbert
Actually not they will get at trusts usually through some combo of statutes and companies by definition have shareholders so while you can play valuation games for it to really work control is an issue. It is easily avoidable though because the credits are quite high.
Its avoidable through tax exchanges, but thats not credits.. It simply delays the taxbills until down the road. Thats why most wealth is lost within generations..
like i said, we pass a 10 percent annual wealth tax and close the loopholes. if he tries to jump around the loopholes and dodge you throw him in prison. that will bring the money in.
or more likely, it will exit the country, like the trillions of dollars sitting overseas, thus creating jobs elsewhere..
Yeah, that'll teach them..
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