Ice1 Posted January 27, 2012 Share Posted January 27, 2012 (edited) Word. I've simply stopped reading him, because not only is he long-winded it's obvious he is just repeating what he heard from the EIB network the day before.l You contribute nothing to this site. I have yet read a single post of any substance from you. Sounds to me like you are the only one around here that listens to talk radio. Edited January 27, 2012 by Ice1 Link to comment Share on other sites More sharing options...
Ice1 Posted January 27, 2012 Share Posted January 27, 2012 It is a simple disagreement on the nature of a transaction, on the nature of a transfer and on the principle of taxation itself. I completely disagree that there is double taxation in here at all. In fact, I think the term "double taxation" is a simple anti-tax pejorative to stir people up. Sadly, this. I usually welcome thinking right wing opponents to these boards but long-winded anti-liberal diatribe rather than reasoned coherent discussion based on references and logic isn't argument. For the record, you have never welcomed me to this site. Not that I really care but I agree we have a disagreement on the transaction and the principle of taxation. I also disagree with your premise with view point that "double taxation" is a simple anti-tax pejorative to stir people up. Double taxation regardless of view is actually double taxation. I also get you may think this type of tax is perfectly fine. I do not. While some look at this as a tax against the rich, it is devastating to small business from the corner shop to the family farm. There are far better ways to drive revenue than hurt family owned land or business. I understand Bushwacked wouldn't comprehend this but I would expect you to understand. I would rather increase Capital Gains a few points and abolish a system that hurts some just so the government can increase revenues. The real issue is our tax code and the philosophy of many to consistently sell up the progressive tax system in general to continue to grow the the worlds largest government in history. Neither party has the will to simplify taxation and neither party has the will to live within our means. The class warfare sales pitch by this Administration is quite disgusting. This is the exact same President that claimed it was unpatriotic to drive up our debt to nine trillion. Listen to the President on the campaign trail. He will hit 16 trillion by the election. This very thread by blasting away at the Caymans shows how our tax policy is a mess. We are attacking people for doing what is legal by following the law. A flat/fair based tax system would be far better than taxing income twice. It is not needed and I am surprised so many think it fine for the government to attack inheritance. I will end with this. It is a fact that this type of tax hurts real working people, the very people Yo-Mama claims he is helping. If that is a diatribe, then so be it. Link to comment Share on other sites More sharing options...
Ursa Majoris Posted January 27, 2012 Share Posted January 27, 2012 While some look at this as a tax against the rich, it is devastating to small business from the corner shop to the family farm. There are far better ways to drive revenue than hurt family owned land or business. This is the classic canard trundled out by the anti-"death tax" brigade. It's all about the family farm or the small business. Quite aside from the fact that the current threshold for Estate Tax is $5,000,000 for a single person and double that for a married couple, there are exemptions for working businesses too. Here's an interesting article from 2006. Posted July 13, 2006: Judging by the amount of effort that some farm organizations have put into their support of eliminating the estate tax (also dubbed the death tax), one would think that most farm heirs are like the maiden in the typical silent film melodrama. As the piano player builds to a musical climax, the villain (played by the federal government’s estate tax) tells the helpless maiden (read farm heirs) that if she doesn’t give him the deed to the ranch he is going to tie her to the railroad tracks. In an era of federal budget deficits it seems to us that it makes sense to determine how likely such a scenario is. Is the federal estate tax breaking up family farms and driving the next generation off the farm? The Congressional Budget Office examined that question in a report they completed in July 2005. The report is titled, “Effects of the Federal Estate Tax on Farms and Small Businesses,” and is available online at www.cbo.gov/ftpdocs/65xx/doc6512/07-06-EstateTax.pdf. The report shows that in 2000, the number of farm estates that had to file an estate tax return was 4,641 and of those a little over one-third (1,659) owed any estate tax at all. Of the 1,659 who owed estate taxes only 138 did not have sufficient liquid assets to immediately pay the taxes due. It should be noted that for farmers, the estate tax payments can be paid over as many as 14 years. The 2000 filings included the estates of persons dying in 1998, 1999, and 2000 and the exemption level varied from $625,000 to $675,000, according to the year of death. If the exemption level were raised to $1.5 million, the number of farm estates required to file an estate tax return would shrink to 1,005 with just 300 of those having to pay any estate tax. Of that 300, only 27 would lack sufficient liquid assets to immediately pay the tax. At a $3.5 million exemption the numbers would be 187 tax returns, 65 owing any tax, and 13 with insufficient liquid assets to pay the estate tax liability. The CBO notes that its analysis “probably overestimate the number of estates with taxes in excess of liquid assets because they do not reflect money held in trusts.” If we accept that the number of commercial farms in the US is around 500,000, then with a $3.5 million exemption, only 3-one thousandths of one percent of farms would be in jeopardy of having to sell some land to pay the taxes. These numbers also assume that at least one of the heirs wants to stay on the farm and continue the operation. In some cases the farm is broken up after death not because of taxes but because some of the non-farm siblings want to sell the land and invest the money in other ways. It is often the lack of interest by family members to remain in farming that causes the break-up of family farms, not estate taxes. So, given that today's exemptions are higher than even the bolded $3.5 million in this article that might adversely affect a maximum of 13 farms, it's hard to see that the Estate Tax is about to beggar all wealthy people. Link to comment Share on other sites More sharing options...
bushwacked Posted January 28, 2012 Share Posted January 28, 2012 You contribute nothing to this site. I have yet read a single post of any substance from you. Sounds to me like you are the only one around here that listens to talk radio. I bring joy, I bring fun, I bring seasons in the sun. You bring Librulz are the root of all evil simple schtick. But at least yer getting learned. Link to comment Share on other sites More sharing options...
Ice1 Posted January 28, 2012 Share Posted January 28, 2012 I bring joy, I bring fun, I bring seasons in the sun. You bring Librulz are the root of all evil simple schtick. But at least yer getting learned. Nice post Snooki! Link to comment Share on other sites More sharing options...
gbpfan1231 Posted January 28, 2012 Share Posted January 28, 2012 I bring joy, I bring fun, I bring seasons in the sun. You bring Librulz are the root of all evil simple schtick. But at least yer getting learned. Why don't you learn? Don't you ever sit back and just realize how many people here call you a tool or a dick or whatever? It sure seems like that is the result you are driving at with your posts. Think about it - when your goal is to be a complete doushee and you actually get your thrills from that is truly sad. I knew kids in grade school that were like that and I always hoped that when they grew up they would change - I guess I can now assume they all won't. Link to comment Share on other sites More sharing options...
bpwallace49 Posted January 28, 2012 Share Posted January 28, 2012 It is sad when people resort to personal attacks. Truly sad. Link to comment Share on other sites More sharing options...
gbpfan1231 Posted January 28, 2012 Share Posted January 28, 2012 It is sad when people resort to personal attacks. Truly sad. I am not sure if you are referring to my post specifically but I was trying to point out that it seems that his entire goal is to get people riled up to the point of creating personal attacks. A lot of people on this site say some things to other people that may be taken bad but it is pretty obvious that is not the sole intent - I have done it - you have done it - Ursa has done it - Ice has done it - the difference is that you guys and myself don't get off on it. Link to comment Share on other sites More sharing options...
Ursa Majoris Posted January 28, 2012 Share Posted January 28, 2012 Nice post Snooki! Ahem. This is the classic canard trundled out by the anti-"death tax" brigade. It's all about the family farm or the small business. Quite aside from the fact that the current threshold for Estate Tax is $5,000,000 for a single person and double that for a married couple, there are exemptions for working businesses too. Here's an interesting article from 2006. So, given that today's exemptions are higher than even the bolded $3.5 million in this article that might adversely affect a maximum of 13 farms, it's hard to see that the Estate Tax is about to beggar all wealthy people. Link to comment Share on other sites More sharing options...
bushwacked Posted January 28, 2012 Share Posted January 28, 2012 It is sad when people resort to personal attacks. Truly sad. The cheeze head is coming into a thread to spaz out and call me names? How odd. Link to comment Share on other sites More sharing options...
gbpfan1231 Posted January 28, 2012 Share Posted January 28, 2012 The cheeze head is coming into a thread to spaz out and call me names? How odd. and your goal was accomplished. I guess if you are good at something you might as well stick with it - even if it is sad. Link to comment Share on other sites More sharing options...
SheikYerbuti Posted January 28, 2012 Share Posted January 28, 2012 Just wanted to get in before the Oh, and BEST. THREAD. EVAH!! Link to comment Share on other sites More sharing options...
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