The coming tax mess

evince said:
I would not be adverse to letting the rich pass on more than a million per person without taxes.

I do think the capital gains like Ted mentioned may be a big problem and any patch put on after the new year could cause some court cases saying they are retroactive taxes.
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so you are FOR this BUSH tax cut?
 
Superfreak said:
so you are FOR this BUSH tax cut?
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I think 2 million at this point is plenty. I think the Bush shit was like 31/2 or something.

Enough to leave someone in a position to never work again if they set it up right.

I dont think I want to make Paris Hiltons lavishly appointed for 10 lifetimes.
 
It expires at the end of the year, there is no reason to panic Desh. It's been dropping for the past years, it goes away for one, it goes right back to where it was in 2000 without them having to do a thing.
 
How come Paris Hilton always seems to get brought up when there is talk of the estate tax?

The b*tch has made millions on her own (not from doing anything of value but she's made the money nonetheless). It's the worst argument.
 
She would have never made anywhere near the money she made if she had not inherited a massive amount.

She would have just been another valley girl
 
Damocles said:
It expires at the end of the year, there is no reason to panic Desh. It's been dropping for the past years, it goes away for one, it goes right back to where it was in 2000 without them having to do a thing.
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Not from what I read in the paper today
 
evince said:
I think 2 million at this point is plenty. I think the Bush shit was like 31/2 or something.

Enough to leave someone in a position to never work again if they set it up right.

I dont think I want to make Paris Hiltons lavishly appointed for 10 lifetimes.
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LMAO.... you just cant say the words can you desh? You agree that this Bush tax cut was justified, but now you have to spin away from it because of Bush.

The difference between $2mm and $3.5mm is not noticed by the likes of Paris Hilton. It is noticed by the countless small business owners/farmers/ranchers whose families get put in a jam because of the damn estate tax being so insanely low.

Those old money families.... like the Hiltons, Kennedy's Rockefellers, Rothchilds etc.... THEIR estates are exempt because they grandfathered all of their family trusts and exempted them from the estate tax.
 
http://www.spokesman.com/stories/2009/dec/27/federal-estate-taxs-future-remains-in-flux/

The federal estate tax is on course to be repealed for one year beginning in January, allowing heirs of large inheritances to temporarily escape the so-called death tax, although a little-noted provision in the law would expose many smaller estates to higher tax liabilities.

Senate Republicans blocked a Democratic attempt temporarily to extend the estate tax earlier this week, meaning that barring any unforeseen action, the levy will disappear on Jan. 1. The move was hailed by conservatives who have long opposed the estate tax as a form of double taxation, hitting income once when it is earned and then when it is passed on.
 
evince said:
Not from what I read in the paper today
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Then whoever wrote the article got it wrong. The only way he could get the taxes passed (The Ds controlled the Senate) is if they had expiration dates. All of Bush's tax cuts will expire at the end of 2010.

If Obama doesn't get the Ds to extend particularly the tax cuts for those that make less than 250K he'll have some serious problem getting re-elected in 2012. It would be cool to watch the "read my lips" commercials all over again with a different President in them...
 
evince said:
http://www.spokesman.com/stories/2009/dec/27/federal-estate-taxs-future-remains-in-flux/

The federal estate tax is on course to be repealed for one year beginning in January, allowing heirs of large inheritances to temporarily escape the so-called death tax, although a little-noted provision in the law would expose many smaller estates to higher tax liabilities.

Senate Republicans blocked a Democratic attempt temporarily to extend the estate tax earlier this week, meaning that barring any unforeseen action, the levy will disappear on Jan. 1. The move was hailed by conservatives who have long opposed the estate tax as a form of double taxation, hitting income once when it is earned and then when it is passed on.
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Read the first sentence of it Desh. Even that article says what I said. It is only for next year. Unless the Senate and Congress decides to extend the tax cut it expires and returns directly back to what it was in 2000, like every other one of Bush's tax cuts do.
 
evince said:
She would have never made anywhere near the money she made if she had not inherited a massive amount.

She would have just been another valley girl
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and JFK, RFK and Teddy Kennedy would have just been another bunch of drunken MA frat boys without their family money.
 
evince said:
She would have never made anywhere near the money she made if she had not inherited a massive amount.

She would have just been another valley girl
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She didn't inherit shit she had rich and famous parents. She's not the only one in this country that's like that you know.

She got famous for making a freaking sex tape. And then made millions after that.
 
Desh how about we institute a national policy that says rich folk should not be allowed to have children because it would be unfair. We could also have a law that says if have children when you don't have money and then make a lot of money you have to give your children up at that point. Just trying to level the playing field here.
 
evince said:
She would have never made anywhere near the money she made if she had not inherited a massive amount.

She would have just been another valley girl
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You know that she hadn't inherited anything at all at the point her "fame" started, right? And when Grandpa died he didn't leave her as much as you portray here.
 
Let's see so Paris stood to inherite $5 million dollars IN THE FUTURE from her grandfather. FUTURE does not mean she has inherited it yet. And who's the idiot?



Paris Hilton's future bank account has just taken an enormous hit – on account of her grandfather.

Barron Hilton, the 80-year-old son of the founder of the worldwide hotel chain that carries the family name, has earmarked 97 percent of his vast fortune – nearly $2.3 billion – to the Conrad N. Hilton Foundation, to help the homeless with housing, find safe water in developing countries and assist other good causes around the world, it has been announced.

To Barron's heirs – who include Paris – will go the remaining three percent: some $69 million, which is said to be taxable.

According to calculations by New York's Daily News, Paris, who once foresaw a $100 million inheritance, is now likely looking at $5 million.

In a statement, Barron Hilton said that his father, Conrad, had set the example and bequeathed 97 percent of his money to the charitable foundation, which the elder Hilton founded in 1944, "and I am proud to follow my father's example."

Hilton has eight children and numerous grandchildren in addition to the 26-year-old celebrated Beverly Hills socialite.

http://www.people.com/people/article/0,,20168283,00.html
 
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