All Your Gold Are Belong To ObamaCare

[lxskllr]

Inheritance taxes are bullshit. You can have a lot of money locked up in land, but not have much in the bank. Everybody's for small farmers, until someone dies. A few hundred acres, and some tractors, and you can get into millions in assets. I wonder how many of them feel like millionaires?

[sgreger1]

Inheritance taxes are bullshit. You can have a lot of money locked up in land, but not have much in the bank. Everybody's for small farmers, until someone dies. A few hundred acres, and some tractors, and you can get into millions in assets. I wonder how many of them feel like millionaires?

Inheritance or estate taxes are so absolutely unfair I can't believe it. Besides the fact that the gov is already taxing you 3 times on everything, they hit you up one last time when you die. And having such a low limit of $1 dollars is RIDICULOUS. Really, 1 million dollars is NOT a lot of money when looking at assets. Like you said LX, a middle class farmer could easily have 1 million in assets. Not that he is a millionare, but for him to turn a marginal profit his cost of doing business (buying equipment to farm) may have him ending up with assets worth 1 million.

This means that average middle class people give 50% of what they earned their entire life to the government for NO reason other than the fact the Gov wants that money.

[texastorm]

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Consumer Reports Raises Doubts About Gold Firm Touted By Glenn Beck


Investigation Questions Goldine's Sales Tactics, Says Beck Sponsor Asked Nearly Twice As Much For Coin Set As Competitor



http://abcnews.go.com/Blotter/goldli...ry?id=11217463


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I don't see the issue here. If Joe farmer can sell corn for 1.00 a bushel, but Joes neighbor Jim Farmer only gets .50 cents a bushel... then Either Joe is brilliant as a businessman or Jims customers are savvy. If this company could sell their coin sets for twice market value... thats righteous.

I purchased a can of soup from my local grocery store and it was 1.89, but I'll be darned if it wasn't on sale at Wal-Mart for 1.10! I wonder if I can sue Kroger?

Things are worth what you can get people to pay for them. Not a penny more.

[RobsanX]

Inheritance taxes are bullshit. You can have a lot of money locked up in land, but not have much in the bank. Everybody's for small farmers, until someone dies. A few hundred acres, and some tractors, and you can get into millions in assets. I wonder how many of them feel like millionaires?

This is the argument I keep hearing, but it seems like there would be protections against that. Couldn't a farmer keep his land in a company, then sell the company to his offspring at a negligible cost? I think this issue is an myth created by Republicans to keep the wealth concentrated amongst themselves.

[sgreger1]

This is the argument I keep hearing, but it seems like there would be protections against that. Couldn't a farmer keep his land in a company, then sell the company to his offspring at a negligible cost? I think this issue is an myth created by Republicans to keep the wealth concentrated amongst themselves.

Why should honest hardworking Americans have to come up with schemes to get around laws just so the gov doesn't steal their money? What do you feel is a myth here? You are aware that tens of billions a year are collected via the estate tax, right? It's not some myth made up by anyone, it's a tax of billions a year on hardworking Americans. Do you believe there is no such thing as an inheritance tax? I shouldn't have to hire some tax lawyer to find some way to hide my lifes work just so the government doesn't steal half of it when I die. I feel bad for your kids man, you believe when you die that your earnings should go to the government and not them. Not sure why you feel the gov is somehow more entitled to it than your kids.



If you believe the estate tax is some myth, check the IRS website:

Estate Tax
The estate tax is a tax on your right to transfer property at your death. It consists of an accounting of everything you own or have certain interests in at the date of death.

"
The estate tax burden falls heavily on farmers because agriculture has a lot of capital assets, such as land and equipment, in order to generate the same amount of income that other types of businesses generate with less. The return of the estate tax—and the higher rate and lower exemption—could result in as many as 10 percent of farms and ranches owing estate taxes in 2011, compared with about 1.5 percent of agricultural operations in 2009. Individuals, partnerships, and family corporations own 98 percent of the nation’s 2.2 million farms and ranches. The estate tax often forces the surviving family members to sell land, buildings or equipment to keep their operation going. In 2011, when the estate tax returns with a top rate of 55 percent and a $1 million exemption, as many as one in 10 farms and ranches (roughly 3,500-4,000 estates) would be subjected to the estate tax than there were in 2009. [29]"




As you can see, it also affects people who are not as rich as the evil capitalists you people are so afraid of:



December 31, 2010, the tentative tax (estate+gift tax) will be calculated by applying the following tax rates[19]:

• For amounts not greater than $10,000, the tax liability is 18% of the amount.
• For amounts over $10,000 but not over $20,000, the tentative tax is $1,800 plus 20% of the excess over $10,000.
• For amounts over $20,000 but not over $40,000, the tentative tax is $3,800 plus 22% of the excess over $20,000.
• For amounts over $40,000 but not over $60,000, the tentative tax is $8,200 plus 24% of the excess over $40,000.
• For amounts over $60,000 but not over $80,000, the tentative tax is $13,000 plus 26% of the excess over $60,000.
• For amounts over $80,000 but not over $100,000, the tentative tax is $18,200 plus 28% of the excess over $80,000.
• For amounts over $100,000 but not over $150,000, the tentative tax is $23,800 plus 30% of the excess over $100,000.

Then, just to hit you up for money 1 last time, the states can (in addition to the federal estate/inheritance tax) add on their own inheritance/estate tax ontop of the federal tax.



Edit: Another reason why it's retarded: It costs more to steal your money after your dead that they recieve once they've stolen it. So your family loses the money, and the additional revenue to the gov gets lost in the wind after being paid to all the bureaucrats.


"Previous Tax Foundation research has found the estate tax acts as a strong disincentive toward entrepreneurship. A 1994 study found that the estate tax’s 55 percent rate at the time had roughly the same disincentive effect as doubling an entrepreneur’s top effective marginal income tax rate. The estate tax has also been found to impose a large compliance burden on the U.S. economy. Some past economic studies have estimated the compliance costs of the federal estate tax to be roughly equal to the amount of revenue raised—nearly five times more costly per dollar of revenue than the federal income tax—making it one of the nation’s most inefficient revenue sources[33]."

[lxskllr]

In any case, it's just plain wrong. I don't care if it's hundredaires, or billionaires. The money was taxed once; it shouldn't be taxed again. It boggles my mind that people think it's ok. It's patently unfair no matter how you look at it. Everybody wants free money, but that doesn't mean it's ok to take it any way you can. If that's the standard we use, we should just get rid of laws. Holding up a 7-11 is as legitimate as stealing from families when someone dies.

[RobsanX]

It was the dead person who earned it. It was the dead person who enjoyed all the benefits of being rich. It was this country that afforded them the ability to become rich and live as a rich person, and now that they are dead it's time to give back to that great country that provided them that environment.

[lxskllr]

It was the dead person who earned it. It was the dead person who enjoyed all the benefits of being rich. It was this country that afforded them the ability to become rich and live as a rich person, and now that they are dead it's time to give back to that great country that provided them that environment.

But they were giving back to the country the whole time they were alive. The money was taxed the whole way through. That argument ca be flipped 180°. Those people that made all the money, are what made America great. Producing jobs, and buying things to support the economy. Perhaps there should be a death benefit. Where the survivors are given money by the government proportional to the wealth of the deceased. The more money the deceased had, the larger the government benefit ;^)

[Darwin]

The "rich uncle" ought to be able to do what the hell he pleases with his earnings that have already been taxed--likely heavily. If he wants to leave it to his no-good crack-head nephew or anyone else it is simply none of our business. The rich uncle's crack-head nephew will probably moronically plow through the money in a few months or years at most and then it will be back out in the economy doing some good for someone. If by some miracle the nephew spends the money wisely then so much the better. Tax policy is not now, and has never been, based on "fairness". It is based on which part of the populace the government can get to stand still for any given tax rate. In terms of servicing the gigantic debt load we have now settled ourselves with there are just not enough rich people, by anyone's definition, to soak for the amounts that will be required, even if they were taxed at 100%.

[sgreger1]

It was the dead person who earned it. It was the dead person who enjoyed all the benefits of being rich. It was this country that afforded them the ability to become rich and live as a rich person, and now that they are dead it's time to give back to that great country that provided them that environment.

What the ****, are you for real? This is absolute ****ing nonesense on every level. This is not a ****ing communist country. Here we work hard and make money for our families, not for the state. What kind of trash line of thinking is this? We pay taxes our entire life, which is "giving back to the country" enough. The fact we were productive and labored in return for money which we then spent in the economy is what grows a country, making money and giving it all back to the feds when you die does your country no service. And as I mentioned, it costs almost as much to collect it as is collected so the state gets little money out of it. God your kids are ****ed. When you die I hope they throw your children on the street with nothing but the clothes on their back (50% of their clothes) so that the state can enjoy any house, car, dog, or money that you left behind.


The only thing these greedy ****s don't want to take 50% of is any DEBT you leave behind. That your children can surely handle on their own.

[sgreger1]

In terms of servicing the gigantic debt load we have now settled ourselves with there are just not enough rich people, by anyone's definition, to soak for the amounts that will be required, even if they were taxed at 100%.

If right now every american, from rich to poor, gave the feds 100% of the money or assets they have, it would not be enough to pay off our debt.

[sgreger1]

http://www.usdebtclock.org/index.html#

I think we could.

Our national assets are like $73T Our national debt is $13T.

The total debt includes personal debt, business debt, etc.

I'm just being pedantic - your point is valid by any measure.

I thought national assets included assets held by the government itself, such as land, buildings, investments etc. I don't think national assets is the same as the amount of money each american could come up with right now if they liquidated all of their assets.

To be more specific, if every American gave the feds every dollar they owned, including all investments, real estate, precious metals or other hard assets, it would not be able to pay off our debt/deficit, which includes 108 trillion in unfunded liabilities (which I consider debt, because we owe that money, just don't have to pay yet. Things like Social Security).




EDIT:


It is now mathematically impossible for the U.S. government to pay off the U.S. national debt. You see, the truth is that the U.S. government now owes more dollars than actually exist. If the U.S. government went out today and took every single penny from every single American bank, business and taxpayer, they still would not be able to pay off the national debt.

[RobsanX]

What the ****, are you for real? This is absolute ****ing nonesense on every level. This is not a ****ing communist country. Here we work hard and make money for our families, not for the state. What kind of trash line of thinking is this? We pay taxes our entire life, which is "giving back to the country" enough. The fact we were productive and labored in return for money which we then spent in the economy is what grows a country, making money and giving it all back to the feds when you die does your country no service. And as I mentioned, it costs almost as much to collect it as is collected so the state gets little money out of it. God your kids are ****ed. When you die I hope they throw your children on the street with nothing but the clothes on their back (50% of their clothes) so that the state can enjoy any house, car, dog, or money that you left behind.


The only thing these greedy ****s don't want to take 50% of is any DEBT you leave behind. That your children can surely handle on their own.

Whoah, relax a little, I didn't go after you personally.

Look, I'm sure that despite these oppressive taxes you are paying, that you will overcome and be worth at least $10mil when you die. Then little Billy and Susie can pay their fair share for their FREE money, and still be left with a nice $2.5mil nest egg. Of course they will be enraged by how the oppressive regime has taken their money, and the circle of life will continue.

[Old Frothingslosh]

Which is funny, because you can still buy those, uncirculated, from the mint at face value.

Actually, the mint charges a markup as well. A roll of 25 presidential dollars costs $35.95 plus $4.95 shipping and handling. It's the government, you know. www.usmint.gov

[Jimbob_Rebel]

Whoah, relax a little, I didn't go after you personally.

No, most supporters of government brigandage don't want to come to your house and take your money themselves, they'd rather send someone else's sons and daughters, government employees with guns and badges, to do the job for them.