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Thread: Death OR Taxes ???

  1. #1
    Banned Melonie's Avatar
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    Default Death OR Taxes ???

    (snip)"CHEYENNE -- U.S. Rep. Cynthia Lummis says some of her Wyoming constituents are so worried about the reinstatement of federal estate taxes that they plan to discontinue dialysis and other life-extending medical treatments so they can die before Dec. 31.

    Lummis, a Republican who holds her state's lone seat in the House, declined to name any of the people who have made the comments.

    But she said many ranchers and farmers in the state would rather pass along their businesses -- "their life's work" -- to their children and grandchildren than see the federal government take a large chunk.

    "If you have spent your whole life building a ranch, and you wanted to pass your estate on to your children, and you were 88 years old and on dialysis, and the only thing that was keeping you alive was that dialysis, you might make that same decision," Lummis told reporters.

    Lummis and other Republicans are fighting to renew the Bush-era tax cuts, which expire at the end of the year. The cuts exempt large inheritances as well as certain wage income, interest, dividends and capital gains. She said the estate tax would go from zero this year to a maximum of 55 percent next year.

    Lummis said the children of some people choosing death over taxes told her of their parents' decision. She wouldn't identify them and said it would be their decision to come forward."(snip)

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    God/dess threlayer's Avatar
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    Default Re: Death OR Taxes ???

    it's been that way for only 8 or 9 years; for decades previously it was taxed; the rich want the middle class to pay their taxes

    give these rich people an inch and they want a mile
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

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    Featured Member flickad's Avatar
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    Default Re: Death OR Taxes ???

    I can see both sides. On the one hand, it's already been taxed. On the other, therelayer also has a good point.

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    Default Re: Death OR Taxes ???

    The rich don't care what taxes other people pay... They have enough resources and enough wiggle room and they won't pay anything they don't want too. Which is why the whole idea of "just taxing the rich" is ridiculous.

    That said I don't agree with estate taxes. There's no legitimate basis for them in my mind, just because you die doesn't mean the Gov. should get a chunk of your wealth.

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    God/dess threlayer's Avatar
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    Default Re: Death OR Taxes ???

    Quote Originally Posted by jester214 View Post
    That said I don't agree with estate taxes. There's no legitimate basis for them in my mind, just because you die doesn't mean the Gov. should get a chunk of your wealth.
    I have a problem with inherited original farmland being taxed (after all it was forest once and a lot of family work was expended to clear it and make it farmable), though not a rich farmer's non-farm assets. As I understand it, generally the tax is a social incentive to give an incentive for people to contribute to society rather than just live off the work of others in one's family. But I'm sure the people inventing this tax found many other ways to justify it.
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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    Banned Melonie's Avatar
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    Default Re: Death OR Taxes ???

    But I'm sure the people inventing this tax found many other ways to justify it.
    and of course the uber-rich who actually invented this tax found many ways AROUND it to protect passing on their own uber-wealth !

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    Default Re: Death OR Taxes ???

    Quote Originally Posted by threlayer View Post
    I have a problem with inherited original farmland being taxed (after all it was forest once and a lot of family work was expended to clear it and make it farmable), though not a rich farmer's non-farm assets. As I understand it, generally the tax is a social incentive to give an incentive for people to contribute to society rather than just live off the work of others in one's family. But I'm sure the people inventing this tax found many other ways to justify it.
    The tax was invented as another convenient way to take money from people so that our government can function... Same as the income tax, though I can accept that one.

    Inheritence tax just irks me...

    I work hard my entire life, have a nice pot of assets and want to pass it on to my kids. It's mine obviously. Then I die, and all of a sudden the Gov gets to dip into it??? They already reaped the rewards of my profits.

    Besides like Melonie said (and I said), this tax really doesn't fuck the people who ahve enough money to do solid estate planning.

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    God/dess threlayer's Avatar
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    Default Re: Death OR Taxes ???

    ^^ ...or (significantly) to those who have the remaining tens of millions to billions to pass on to heirs. (The tax used to start applying at a half million.)
    Last edited by threlayer; 11-20-2010 at 03:54 PM.
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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