Eye Opening Article on Taxes

#101
#101
rjd970 said:
NO.

I don't agree with the income tax. Flat tax?
I think inheritance should be considered income to the reciepient. But not taxed?

I don't think it is being "double taxed". This is where myself, and several others that have tried to give you some perspective on this, disagree.

Is it really that hard for you to understand?
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Yes
 
#103
#103
T-TownVol said:
NO.

Flat tax? I don't know, maybe.

But not taxed? Right. But if there is an existing income tax, it falls under that.

This is where myself, and several others that have tried to give you some perspective on this, disagree.

Agree to disagree then.
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.
 
#104
#104
How is a house income? Whats the value of that house or business? Who makes that decision? Whats the value of a small business when the person running that small business is now dead


Just because you dont feel comfortable with someone getting wealth doesnt make it right to take half of it. "Oh your dad died, thats too bad, but guess what you are getting $5 Million but we have a problem. I dont feel comfortable with you getting that much money, so I am going to force you to liquidate some assets so I can take half. Now I feel better, run along now and enjoy the rest of your life" Total BS
 
#105
#105
VolsNSkinsFan said:
How is a house income? Whats the value of that house or business? Who makes that decision? Whats the value of a small business when the person running that small business is now dead


Just because you dont feel comfortable with someone getting wealth doesnt make it right to take half of it. "Oh your dad died, thats too bad, but guess what you are getting $5 Million but we have a problem. I dont feel comfortable with you getting that much money, so I am going to force you to liquidate some assets so I can take half. Now I feel better, run along now and enjoy the rest of your life" Total BS
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Show me one place where I have said I agree with the income tax. Furthermore, show me one place where I said anything about fairness, only going after rich, etc. I am arguing inheritance is income. Thats it.

Until you can, stfu and actually read what I am saying.
 
#107
#107
Instead of debating about what is and isn't income, it always reverts back to the assumption that just because somebody doesn't agree with you opinion he hates rich people, likes taxes, etc.

it is beyond stupid, I guess it is easier to label somebody as opposed to arguing your point.

I don't know the details. I don't know how you tax a house as income. But I do think it falls under the category of income. I do think if there is an existing income tax, it applies. Doesn't mean I agree with it.
 
#109
#109
rjd970 said:
Show me one place where I have said I agree with the income tax. Furthermore, show me one place where I said anything about fairness, only going after rich, etc. I am arguing inheritance is income. Thats it.
Until you can, stfu and actually read what I am saying.
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Then, under our current system, you are saying that it should be taxed as such. You can not seperate the two.
 
#110
#110
T-TownVol said:
My dad gives my kids a $500 savings bond on every birthday, I guess they need to send in taxes on them.
I just do not see where anyone can consider that the government has a right to any of this gift.
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Well of course the government has a right to this gift. I mean first your dad loans the government $250 for 20 years, when your kid can cash in the face value of $500. So logically the government should at least get to take $250 back since it was only loaned that in the first place. The government can collect that as taxes over the 20 years or a lump sum at the end, same difference. This would equate to the handling fee in some syndicates.
 
#111
#111
T-TownVol said:
Then, under our current system, you are saying that it should be taxed as such. You can not seperate the two.
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lol...really?

It should be taxed under the current rules. I don't agree with the rules.

See how that works?
 
#112
#112
rjd970 said:
Instead of debating about what is and isn't income, it always reverts back to the assumption that just because somebody doesn't agree with you opinion he hates rich people, likes taxes, etc.

it is beyond stupid, I guess it is easier to label somebody as opposed to arguing your point.

I don't know the details. I don't know how you tax a house as income. But I do think it falls under the category of income. I do think if there is an existing income tax, it applies. Doesn't mean I agree with it.
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So, you want your wife to have to sell the house to pay the inheritance/income tax on it?

You can think it is income all you want, but it is not. Income is earned from wages, interest, or the sell of goods or services. Inheritance does not fall under any of those categories.
 
#113
#113
rjd970 said:
How is it not luck? Curious as to your opinion on how someone chooses how rich their relatives and friends are.
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Sure, being born into a family where someone at the top, whether the mom or dad, is creative, hard working, diligent and disciplined enough to prepare for the future could definitely be termed "luck." The kid is even luckier if the parents wait until they are economically sound before they have kids and triple lucky if the parents pass on some of their character traits so the kid is able to handle the reality that the government will negate half of his parents' efforts upon their death. I could see how that would be luck.
 
#114
#114
T-TownVol said:
So, you want your wife to have to sell the house to pay the inheritance/income tax on it?

You can think it is income all you want, but it is not. Income is earned from wages, interest, or the sell of goods or services. Inheritance does not fall under any of those categories.
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NO! NO! NO!

I'm done. I don't know how many different ways I can say it.
 
#115
#115
YorkVol said:
Sure, being born into a family where someone at the top, whether the mom or dad, is creative, hard working, diligent and disciplined enough to prepare for the future could definitely be termed "luck." The kid is even luckier if the parents wait until they are economically sound before they have kids and triple lucky if the parents pass on some of their character traits so the kid is able to handle the reality that the government will negate half of his parents' efforts upon their death. I could see how that would be luck
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How is it not? Do you consider yourself lucky to be born in america? What exactly did you do to earn it?
 
#119
#119
I love writing tax policy on who is lucky and who is not. Hey you inherited $100 bank account, you lucky SOB, I dont feel comfortable with that. So I am going to take $50. Okay, now you are not so lucky and I feel better, carry on with you life, oh and sorry about your loss.
 
#120
#120
rjd970 said:
NO! NO! NO!

I'm done. I don't know how many different ways I can say it.
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I am left an empty warehouse valued at $5mil. Under the current system I now owe $1.75mil in taxes right? How do I pay that without selling unless I am independently wealthy?

rjd970 said:
How is it not? Do you consider yourself lucky to be born in america? What exactly did you do to earn it?
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There are plenty of people putting in the work to help make others successful. Calling it luck is pretty simple way of describing that work
 
#122
#122
rjd970 said:
How is it not? Do you consider yourself lucky to be born in america? What exactly did you do to earn it?
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Very lucky.

I'm also hoping to get lucky when my old man passes away, though he may decide to leave it all to a charity. Luck of the draw and it will save me some headaches.
 
#124
#124
YorkVol said:
Very lucky.

I'm also hoping to get lucky when my old man passes away, though he may decide to leave it all to a charity. Luck of the draw and it will save me some headaches.
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So your parents wealth is or isn't luck? Pray tell.
 
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