Estate Taxes

[McDad]

Prince would have never written Little Red Corvette if the government hadn't built roads for him to drive on.

If taxation is a moral position and more taxes paid equals increased morality vis a vis "societal good", should we not assess the moral good by the man's work and production pre tax?

His music entertained millions. He provided jobs for music companies, tour companies, souvenir companies. He helped launch careers of others who also became a catalyst for work through their efforts. A few people became accumulated a lot of wealth. A lot of people accumulated some wealth. It is also likely some destitute were helped through his charitable actions.

At what point has he (or anyone) met or exceeded their moral obligation to benefit society?

 

[Thunder Good-Oil]

If they get the senate, that will be void

There’s a benefit of concentrating them on the west coast and in the Northeast. They won’t have 38 states since they’re too good to inhabit the flyover states. They also have a ways to go before they have 2/3rds of the House and Senate. If they win tomorrow I’m in favor of endless filibustering for the next 2 years. Especially when they try to eliminate the filibuster rule.

 

[Sea Ray]

Why does Henry Ford think he should be able to give it to his kids? That's an expectation that has to be weighed against other competing societal interests.

You can cry for his kids but I wont.

Why? Because it's his to do with whatever he wants. It's not government's job to take private property and decide what to do with it in the interest of societal good. Would you want Donald Trump to take your stuff and distribute it based on his impression of societal interests?

Folks here you have it. There really are people out here who think like this. You just read it here. Some folks trust government to take private property and distribute it based upon what they decide is its societal interests. You can't make this up

 

[Ernest T. Vol]

Estate planners will be in high demand.

There has already been a rush, since the election, to get property transferred by December 31, 2020. In recent years, they have literally passed ex post facto tax law. That was a big NO NO from the beginning. Now, every January, they argue about the budget and pass something that includes tax law changes, extenders etc. Informed folks know this means Biden and the socialists will reach back to the beginning of 2021 for any increases they might pass later in the year.

 

[volfanhill]

Why does Henry Ford think he should be able to give it to his kids? That's an expectation that has to be weighed against other competing societal interests.

You can cry for his kids but I wont.

Because he owns the damn company that's why. The government has zero right to claim any portion. It's simply class and wealth envy. Why the hell would anyone advocates giving a Government like ours, that has proven time and time again they are incapable of making good decisions, is beyond ridiculous. Maybe we can take that money from Ford and invade some more countries?

 

[WBO]

Yeah, that is such a cope out statement to support theft of my wealth.

I seriously doubt you have over $11 million.

 

[hog88]

I seriously doubt you have over $11 million.

How much land outside of nashville would one have to own to have an $11 million dollar estate?

 

[Y9 Vol]

How many companies, doing over 25 mil a year, would one have to own or be a partner in, to reach that threshold? For me, it is 3. I hope you can be as blessed as me on day guys and gals.

 

[Volgolfer1618]

There’s a benefit of concentrating them on the west coast and in the Northeast. They won’t have 38 states since they’re too good to inhabit the flyover states. They also have a ways to go before they have 2/3rds of the House and Senate. If they win tomorrow I’m in favor of endless filibustering for the next 2 years. Especially when they try to eliminate the filibuster rule.

I thought the filibuster was ended with reid.

 

[Y9 Vol]

How much land outside of nashville would one have to own to have an $11 million dollar estate?

Or 16 acre ranch with a 5,000 sq ft house in Jackson Hole, WY? 74' Hatteras in Charleston City Marina?

 

[LouderVol]

How much land outside of nashville would one have to own to have an $11 million dollar estate?

I think we had to get my grandparents down below 100 acres in NE Bama to be below the value. Of course the state wanted to build a road thru there which drastically increased the value.

Funny that no plans for that road were ever submitted. Coincidence and poor timing I am sure.

 

[WBO]

That's a terrible argument when you choose to include things that are constitutionally mandated and things not paid for by fed govt.

I don't think anyone has advocated for zero taxes but there is not currently a revenue problem within govt. They do not need any more money to waste

Do any of you guys ever seriously crunch the numbers or do you just want to rant against the concept of taxes?

Total 2020 revenue from all sources was about $3.5 trillion. Spending is about $6.5 trillion leaving the largest deficit in history at $3 trillion.

2020 is an anomaly in that over $1 Trillion is being spent on COVID response and over $1 trillion is being spent on financial support programs (the stimulus checks and the boost in unemployment benefits). So let's drop those two out. That still would leave a $1 trillion deficit.

In a typical year over 50% of the federal budget is social security ($!.15 trillion), medicare ($925 billion) and medicaid . I'm guessing none of you believe in medicaid (let the poor die) but I'm betting that all of you are wanting your social security and medicare (do you really think you could afford health insurance. Those three together adds up to around $2.5 trillion. Those three are mandated. You can argue that medicaid shouldn't exist but that only saves you $450 billion, so you're still around $2 trillion. I know there are people who say there shouldn't be social security or medicare but if the Republicans tried to end those it would be the end of the party.

The next expense you is one you can't kill, the national debt. I hear some idiots say we should default, but that would simply start a collapse in the financial markets. We really only pay the interest on the debt and even with the incredibly low rates that is still $525 billion.

The next largest portion of the federal budget is the military at just under $700 billion.

So look where you're at now. Those three items now add up to $3.75 trillion. More than the total revenues.

And you still have everything left that the government does. Federal law enforcement, homeland security, federal prisons, the FAA, immigration, etc. have yet to be funded.

And I guess you all believe that the Veterans Administration should be eliminated ($218 billion). Hey they went off and defended their country and were wounded or did at least 20 years getting their retirement. Let's just cancel that out as well.

So call me all the names you want, but you decide what gets eliminated.

And don't try to say that you could do it by simply eliminating waste. That's a BS fantasy.

 

[Y9 Vol]

Do any of you guys ever seriously crunch the numbers or do you just want to rant against the concept of taxes?

Total 2020 revenue from all sources was about $3.5 trillion. Spending is about $6.5 trillion leaving the largest deficit in history at $3 trillion.

2020 is an anomaly in that over $1 Trillion is being spent on COVID response and over $1 trillion is being spent on financial support programs (the stimulus checks and the boost in unemployment benefits). So let's drop those two out. That still would leave a $1 trillion deficit.

In a typical year over 50% of the federal budget is social security ($!.15 trillion), medicare ($925 billion) and medicaid . I'm guessing none of you believe in medicaid (let the poor die) but I'm betting that all of you are wanting your social security and medicare (do you really think you could afford health insurance. Those three together adds up to around $2.5 trillion. Those three are mandated. You can argue that medicaid shouldn't exist but that only saves you $450 billion, so you're still around $2 trillion. I know there are people who say there shouldn't be social security or medicare but if the Republicans tried to end those it would be the end of the party.

The next expense you is one you can't kill, the national debt. I hear some idiots say we should default, but that would simply start a collapse in the financial markets. We really only pay the interest on the debt and even with the incredibly low rates that is still $525 billion.

The next largest portion of the federal budget is the military at just under $700 billion.

So look where you're at now. Those three items now add up to $3.75 trillion. More than the total revenues.

And you still have everything left that the government does. Federal law enforcement, homeland security, federal prisons, the FAA, immigration, etc. have yet to be funded.

And I guess you all believe that the Veterans Administration should be eliminated ($218 billion). Hey they went off and defended their country and were wounded or did at least 20 years getting their retirement. Let's just cancel that out as well.

So call me all the names you want, but you decide what gets eliminated.

And don't try to say that you could do it by simply eliminating waste. That's a BS fantasy.

bLAH...bLAH...bLAH..."Tax the Rich"

 

[hog88]

Do any of you guys ever seriously crunch the numbers or do you just want to rant against the concept of taxes?

Total 2020 revenue from all sources was about $3.5 trillion. Spending is about $6.5 trillion leaving the largest deficit in history at $3 trillion.

2020 is an anomaly in that over $1 Trillion is being spent on COVID response and over $1 trillion is being spent on financial support programs (the stimulus checks and the boost in unemployment benefits). So let's drop those two out. That still would leave a $1 trillion deficit.

In a typical year over 50% of the federal budget is social security ($!.15 trillion), medicare ($925 billion) and medicaid . I'm guessing none of you believe in medicaid (let the poor die) but I'm betting that all of you are wanting your social security and medicare (do you really think you could afford health insurance. Those three together adds up to around $2.5 trillion. Those three are mandated. You can argue that medicaid shouldn't exist but that only saves you $450 billion, so you're still around $2 trillion. I know there are people who say there shouldn't be social security or medicare but if the Republicans tried to end those it would be the end of the party.

The next expense you is one you can't kill, the national debt. I hear some idiots say we should default, but that would simply start a collapse in the financial markets. We really only pay the interest on the debt and even with the incredibly low rates that is still $525 billion.

The next largest portion of the federal budget is the military at just under $700 billion.

So look where you're at now. Those three items now add up to $3.75 trillion. More than the total revenues.

And you still have everything left that the government does. Federal law enforcement, homeland security, federal prisons, the FAA, immigration, etc. have yet to be funded.

And I guess you all believe that the Veterans Administration should be eliminated ($218 billion). Hey they went off and defended their country and were wounded or did at least 20 years getting their retirement. Let's just cancel that out as well.

So call me all the names you want, but you decide what gets eliminated.

And don't try to say that you could do it by simply eliminating waste. That's a BS fantasy.

And here we go with the childish rant trying to defend government theft from it's citizens.

The estate tax brings in less than 1% of total federal revenues, probably less then a 1/2% so it's elimination would mean nothing to the federal government. But I'll go with cutting any of the above by whatever amount of revenue is lost by eliminating it.

 

[hog88]

bLAH...bLAH...bLAH..."Tax the Rich"

It's all they have. Such a jealous bunch liberals are.

 

[utvolpj]

Do any of you guys ever seriously crunch the numbers or do you just want to rant against the concept of taxes?

Total 2020 revenue from all sources was about $3.5 trillion. Spending is about $6.5 trillion leaving the largest deficit in history at $3 trillion.

2020 is an anomaly in that over $1 Trillion is being spent on COVID response and over $1 trillion is being spent on financial support programs (the stimulus checks and the boost in unemployment benefits). So let's drop those two out. That still would leave a $1 trillion deficit.

In a typical year over 50% of the federal budget is social security ($!.15 trillion), medicare ($925 billion) and medicaid . I'm guessing none of you believe in medicaid (let the poor die) but I'm betting that all of you are wanting your social security and medicare (do you really think you could afford health insurance. Those three together adds up to around $2.5 trillion. Those three are mandated. You can argue that medicaid shouldn't exist but that only saves you $450 billion, so you're still around $2 trillion. I know there are people who say there shouldn't be social security or medicare but if the Republicans tried to end those it would be the end of the party.

The next expense you is one you can't kill, the national debt. I hear some idiots say we should default, but that would simply start a collapse in the financial markets. We really only pay the interest on the debt and even with the incredibly low rates that is still $525 billion.

The next largest portion of the federal budget is the military at just under $700 billion.

So look where you're at now. Those three items now add up to $3.75 trillion. More than the total revenues.

And you still have everything left that the government does. Federal law enforcement, homeland security, federal prisons, the FAA, immigration, etc. have yet to be funded.

And I guess you all believe that the Veterans Administration should be eliminated ($218 billion). Hey they went off and defended their country and were wounded or did at least 20 years getting their retirement. Let's just cancel that out as well.

So call me all the names you want, but you decide what gets eliminated.

And don't try to say that you could do it by simply eliminating waste. That's a BS fantasy.

You're still defending a bloated govt and talking like all these things must be done. Many are not the charge of the fed govt under the governing document. Things like social security, DHS, ridiculous military spending, foreign aid, stupid wall, entitlement programs out the wazoo, etc could all go away if you ask me. Fewer wars are cheaper and then even drive down the cost of the VA you believe I'm against. To act as if there is no way the govt could work within a budget is exactly what they've conditioned you to believe. They have to

 

[LouderVol]

Do any of you guys ever seriously crunch the numbers or do you just want to rant against the concept of taxes?

Total 2020 revenue from all sources was about $3.5 trillion. Spending is about $6.5 trillion leaving the largest deficit in history at $3 trillion.

2020 is an anomaly in that over $1 Trillion is being spent on COVID response and over $1 trillion is being spent on financial support programs (the stimulus checks and the boost in unemployment benefits). So let's drop those two out. That still would leave a $1 trillion deficit.

In a typical year over 50% of the federal budget is social security ($!.15 trillion), medicare ($925 billion) and medicaid . I'm guessing none of you believe in medicaid (let the poor die) but I'm betting that all of you are wanting your social security and medicare (do you really think you could afford health insurance. Those three together adds up to around $2.5 trillion. Those three are mandated. You can argue that medicaid shouldn't exist but that only saves you $450 billion, so you're still around $2 trillion. I know there are people who say there shouldn't be social security or medicare but if the Republicans tried to end those it would be the end of the party.

The next expense you is one you can't kill, the national debt. I hear some idiots say we should default, but that would simply start a collapse in the financial markets. We really only pay the interest on the debt and even with the incredibly low rates that is still $525 billion.

The next largest portion of the federal budget is the military at just under $700 billion.

So look where you're at now. Those three items now add up to $3.75 trillion. More than the total revenues.

And you still have everything left that the government does. Federal law enforcement, homeland security, federal prisons, the FAA, immigration, etc. have yet to be funded.

And I guess you all believe that the Veterans Administration should be eliminated ($218 billion). Hey they went off and defended their country and were wounded or did at least 20 years getting their retirement. Let's just cancel that out as well.

So call me all the names you want, but you decide what gets eliminated.

And don't try to say that you could do it by simply eliminating waste. That's a BS fantasy.

As someone else pointed out SS and medicare should be net zeros. They arent, but they should be.

I am all for taking 30%, 50% whatever percentage we are over budget off the top of EVERYTHING.

I have also proposed a plan I would gladly participate in to cut my SS rate, make me inelliedble for future benefits, and would still save me money in the long run. I havent run the numbers but I bet a similar measure could be taken for medicare.

Basically it boils down to cut my SS/medicare taxes in half, but still withhold full amount. The government keeps taking half for the general public. The other half is invested and can only be used for those needs similar to what I was opting out of from the Government. Everything I have paid in at this point stays in their pockets.

Its win win lose. The people who dont pay in still get the benefits of the government taking my money. I benefit by ending up with more money for my use in the long run, and the government isnt the shepard. The government is the only loser because they lost a dependent.

 

[Thunder Good-Oil]

You're still defending a bloated govt and talking like all these things must be done. Many are not the charge of the fed govt under the governing document. Things like social security, DHS, ridiculous military spending, foreign aid, stupid wall, entitlement programs out the wazoo, etc could all go away if you ask me. Fewer wars are cheaper and then even drive down the cost of the VA you believe I'm against. To act as if there is no way the govt could work within a budget is exactly what they've conditioned you to believe. They have to

I don’t think the wall is stupid since it makes patrolling the border more effective and allows it to be done more efficiently. What would be stupid is if the liberals tear down what’s been built.

 

[Rasputin_Vol]

Do any of you guys ever seriously crunch the numbers or do you just want to rant against the concept of taxes?

Total 2020 revenue from all sources was about $3.5 trillion. Spending is about $6.5 trillion leaving the largest deficit in history at $3 trillion.

2020 is an anomaly in that over $1 Trillion is being spent on COVID response and over $1 trillion is being spent on financial support programs (the stimulus checks and the boost in unemployment benefits). So let's drop those two out. That still would leave a $1 trillion deficit.

In a typical year over 50% of the federal budget is social security ($!.15 trillion), medicare ($925 billion) and medicaid . I'm guessing none of you believe in medicaid (let the poor die) but I'm betting that all of you are wanting your social security and medicare (do you really think you could afford health insurance. Those three together adds up to around $2.5 trillion. Those three are mandated. You can argue that medicaid shouldn't exist but that only saves you $450 billion, so you're still around $2 trillion. I know there are people who say there shouldn't be social security or medicare but if the Republicans tried to end those it would be the end of the party.

The next expense you is one you can't kill, the national debt. I hear some idiots say we should default, but that would simply start a collapse in the financial markets. We really only pay the interest on the debt and even with the incredibly low rates that is still $525 billion.

The next largest portion of the federal budget is the military at just under $700 billion.

So look where you're at now. Those three items now add up to $3.75 trillion. More than the total revenues.

And you still have everything left that the government does. Federal law enforcement, homeland security, federal prisons, the FAA, immigration, etc. have yet to be funded.

And I guess you all believe that the Veterans Administration should be eliminated ($218 billion). Hey they went off and defended their country and were wounded or did at least 20 years getting their retirement. Let's just cancel that out as well.

So call me all the names you want, but you decide what gets eliminated.

And don't try to say that you could do it by simply eliminating waste. That's a BS fantasy.

Where have you been? All we talk about in here in reallocation of resources, cutting spending here, increasing spending there... don't insult the people in here by telling us taxes pay for government programs.

 

[utvolpj]

I don’t think the wall is stupid since it makes patrolling the border more effective and allows it to be done more efficiently. What would be stupid is if the liberals tear down what’s been built.

A comprehensive immigration program would do more than the border monument ever could. But then there would be no rally chants

 

[DC_Vol]

Do any of you guys ever seriously crunch the numbers or do you just want to rant against the concept of taxes?

Total 2020 revenue from all sources was about $3.5 trillion. Spending is about $6.5 trillion leaving the largest deficit in history at $3 trillion.

2020 is an anomaly in that over $1 Trillion is being spent on COVID response and over $1 trillion is being spent on financial support programs (the stimulus checks and the boost in unemployment benefits). So let's drop those two out. That still would leave a $1 trillion deficit.

In a typical year over 50% of the federal budget is social security ($!.15 trillion), medicare ($925 billion) and medicaid . I'm guessing none of you believe in medicaid (let the poor die) but I'm betting that all of you are wanting your social security and medicare (do you really think you could afford health insurance. Those three together adds up to around $2.5 trillion. Those three are mandated. You can argue that medicaid shouldn't exist but that only saves you $450 billion, so you're still around $2 trillion. I know there are people who say there shouldn't be social security or medicare but if the Republicans tried to end those it would be the end of the party.

The next expense you is one you can't kill, the national debt. I hear some idiots say we should default, but that would simply start a collapse in the financial markets. We really only pay the interest on the debt and even with the incredibly low rates that is still $525 billion.

The next largest portion of the federal budget is the military at just under $700 billion.

So look where you're at now. Those three items now add up to $3.75 trillion. More than the total revenues.

And you still have everything left that the government does. Federal law enforcement, homeland security, federal prisons, the FAA, immigration, etc. have yet to be funded.

And I guess you all believe that the Veterans Administration should be eliminated ($218 billion). Hey they went off and defended their country and were wounded or did at least 20 years getting their retirement. Let's just cancel that out as well.

So call me all the names you want, but you decide what gets eliminated.

And don't try to say that you could do it by simply eliminating waste. That's a BS fantasy.

You could easily cut the size of government in half and, except for making citizens’ lives easier, nobody would notice.

The bloat that exists inside the entities of the federal government are mind boggling. I’ve seen it first hand.

 

[Thunder Good-Oil]

A comprehensive immigration program would do more than the border monument ever could. But then there would be no rally chants

Don’t we already have a comprehensive program? About a million per year become US citizens and many more are admitted entrance as documented visitors.

Physical barriers are a component of a comprehensive program.

 

[LouderVol]

You could easily cut the size of government in half and, except for making citizens’ lives easier, nobody would notice.

The bloat that exists inside the entities of the federal government are mind boggling. I’ve seen it first hand.

How many people noticed the government shutdowns under Trump? Most probably dont even remember it

 

[LouderVol]

Don’t we already have a comprehensive program? About a million per year become US citizens and many more are admitted entrance as documented visitors.

Physical barriers are a component of a comprehensive program.

Why is there a number?

I am all for telling someone no if something doesnt check out. But besides that we shouldnt be turning people away.

 

[McDad]

Do any of you guys ever seriously crunch the numbers or do you just want to rant against the concept of taxes?

Total 2020 revenue from all sources was about $3.5 trillion. Spending is about $6.5 trillion leaving the largest deficit in history at $3 trillion.

2020 is an anomaly in that over $1 Trillion is being spent on COVID response and over $1 trillion is being spent on financial support programs (the stimulus checks and the boost in unemployment benefits). So let's drop those two out. That still would leave a $1 trillion deficit.

In a typical year over 50% of the federal budget is social security ($!.15 trillion), medicare ($925 billion) and medicaid . I'm guessing none of you believe in medicaid (let the poor die) but I'm betting that all of you are wanting your social security and medicare (do you really think you could afford health insurance. Those three together adds up to around $2.5 trillion. Those three are mandated. You can argue that medicaid shouldn't exist but that only saves you $450 billion, so you're still around $2 trillion. I know there are people who say there shouldn't be social security or medicare but if the Republicans tried to end those it would be the end of the party.

The next expense you is one you can't kill, the national debt. I hear some idiots say we should default, but that would simply start a collapse in the financial markets. We really only pay the interest on the debt and even with the incredibly low rates that is still $525 billion.

The next largest portion of the federal budget is the military at just under $700 billion.

So look where you're at now. Those three items now add up to $3.75 trillion. More than the total revenues.

And you still have everything left that the government does. Federal law enforcement, homeland security, federal prisons, the FAA, immigration, etc. have yet to be funded.

And I guess you all believe that the Veterans Administration should be eliminated ($218 billion). Hey they went off and defended their country and were wounded or did at least 20 years getting their retirement. Let's just cancel that out as well.

So call me all the names you want, but you decide what gets eliminated.

And don't try to say that you could do it by simply eliminating waste. That's a BS fantasy.

Your tirade mined a few good nuggets with which I agree.

The premise, the assumptive starter, that government must fund the budget and tax revenues are mandatory to fund the bloated spending and exploitative borrowing is where we differ.

All sacred cows on this ship must be reduce their heft or else we all drown. It isn't about eliminating any single line item (although there are many I would like to see vanish), it is about an equal reduction across the board in bottom line spending (not the rate of growth which is a deceitful talking point from BCG devotees). There is no sacrosanct item in the budget.