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  1. #76
    Savvy Veteran spurraider21's Avatar
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    I didn't say loopholes don't exist. Your own graphic said the "excess" principle is the main reason the effective rate is so low

  2. #77
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    I didn't say loopholes don't exist. Your own graphic said the "excess" principle is the main reason the effective rate is so low
    lol now your trying to argue still.

    I said I would support a higher exemption to avoid people losing family owned farms/ranches businesses to estate taxes. Apparently there no need to raise the exemption because there are already plenty of programs/provisions to prevent that from happening.

    That was the original point before you started getting all triggered by dollar amounts and started in with the "rich" "lottery winners" "you're out of touch with the workin man". Btw, that's was a good one coming from the guy who complains he can hear his dad listening to Fox news through the wall of his room.

  3. #78
    Savvy Veteran spurraider21's Avatar
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    lol now your trying to argue still.

    I said I would support a higher exemption to avoid people losing family owned farms/ranches businesses to estate taxes. Apparently there no need to raise the exemption because there are already plenty of programs/provisions to prevent that from happening.

    That was the original point before you started getting all triggered by dollar amounts and started in with the "rich" "lottery winners" "you're out of touch with the workin man". Btw, that's was a good one coming from the guy who complains he can hear his dad listening to Fox news through the wall of his room.
    Apparently we disagree as to what qualifies as wealthy. I was willing to look at percentiles. You never really gave your idea of what middle class or wealthy means. I'm willing to say people that own an 11+ million dollar property are wealthy. You've refused to draw a line and just call me triggered instead of doing so. It's just prick waiving from you. Oh, you think millionaires are wealthy? That's adorable!

    And yeah, I lived with my folks until I took the bar exam this past July. I don't know why you'd throw that out as something I should have been ashamed of.

  4. #79
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    Apparently we disagree as to what qualifies as wealthy.
    You're still missing the original point (not losing family owned...) which was never about dollar amounts. You and Chump went off on that topic just because of my example pulled out of thin air.

    And yeah, I lived with my folks until I took the bar exam this past July. I don't know why you'd throw that out as something I should have been ashamed of.
    I don't think you should be ashamed of it. I would have done that too if I had been that privileged but I had to get a job and pay rent after high school. That's probably the reason I'm not as in touch with the average man as you are.

    Not sure where your getting the prick waving thing from, nowhere did I mention my personal financial situation. Now that your going to work as a lawyer I'll go ahead and make the prediction that someday you're going to think "damn a million dollars isn't as much as I thought it was"... well unless your an unsuccessful lawyer, then you'll still be all "man if I had a million dollars...".

  5. #80
    Believe. Pavlov's Avatar
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    Not sure where your getting the prick waving thing from

  6. #81
    4-25-20 Will Hunting's Avatar
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    Ya'll know there's a $5 1/2 million exclusion right?
    No, most people don't.

  7. #82
    4-25-20 Will Hunting's Avatar
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    For s and giggles.

    $10 m in farmland
    2000 acres x $5000
    half corn and soybeans
    Combine and headers alone will run almost 3/4 of a million right there.

    Your looking at $2-3 million in machinery
    Need some bins and sheds, another half a million to a million.

    I pay sales tax on all that machinery. Health insurance another $20g.

    You don't have much margin of error on a large decision. The engine alone on a combine or tractor will run north of $60k.

    Lets say you have to come up with $4m just to enter the game, assuming inheriting $10 m in land. What's your motivation to build an operation? Inflation alone will push you out into major tax area when your ready to retire. That $200k net? Your not continuing to farm/ranch without a lot of extra capitol. Even if you were, you need to expand at least 5% every year to remain compe ive.
    Any estate lawyer with some semblance of intelligence would be able to shield this scenario from the estate tax completely.

  8. #83
    Savvy Veteran spurraider21's Avatar
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    It's always tough to discuss what qualifies as wealthy with broke people.

  9. #84
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    Your a student living at home with your parents. That's not broke?

  10. #85
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    It's weird how much being a democrat has changed. Protecting family farmers/ranchers used to be owned by the Democrats now it's those people. Blue collar workers... those people.

  11. #86
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    Anyone in the medical field... those people I want single payer.

  12. #87
    Savvy Veteran spurraider21's Avatar
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    Your a student living at home with your parents. That's not broke?
    Not since July. Moved in with fiance once I took the bar and went back to work.

  13. #88
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    Not since July. Moved in with fiance once I took the bar and went back to work.
    Good for you, I didn't know that. Anyways it's not waving to think your not all that in tune with what cons utes a lot of money when you think with a $200K salary just go get a $2million loan to pay the estate tax. You can go do the math on how that works out if you want. $200k isn't as much as you seem to think it is.

  14. #89
    Garnett > Duncan sickdsm's Avatar
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    Any estate lawyer with some semblance of intelligence would be able to shield this scenario from the estate tax completely.
    Lots of money is being spent on estate lawyers in agriculture. I'm not old enough to be agressive in my situation yet but you're telling me that if I have one child i could pass a what, $25M operation without paying a cent in estate tax?

  15. #90
    Garnett > Duncan sickdsm's Avatar
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    Hopefully you can get the federal government to pay you to not grow or raise anything.
    Federal govt is grain farmers number one compe or. I lost 10% of my acres to them in the last two years. Taxpayers pay 150% of top rental rates so hunters can shoot birds on it.

  16. #91
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    Not since July. Moved in with fiance once I took the bar and went back to work.
    God damnit, why? Takes one zinger out of my arsenal.
    #jkCongrats

  17. #92
    Savvy Veteran spurraider21's Avatar
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    Good for you, I didn't know that. Anyways it's not waving to think your not all that in tune with what cons utes a lot of money when you think with a $200K salary just go get a $2million loan to pay the estate tax. You can go do the math on how that works out if you want. $200k isn't as much as you seem to think it is.
    You forgot having 11 million in equity. Not just the income

  18. #93
    Savvy Veteran spurraider21's Avatar
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    God damnit, why? Takes one zinger out of my arsenal.
    #jkCongrats
    Getting married on Saturday tbh

  19. #94
    4-25-20 Will Hunting's Avatar
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    Lots of money is being spent on estate lawyers in agriculture. I'm not old enough to be agressive in my situation yet but you're telling me that if I have one child i could pass a what, $25M operation without paying a cent in estate tax?
    Absolutely, but it requires several decades of planning.

  20. #95
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    Getting married on Saturday tbh
    Congrats!

  21. #96
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    You forgot having 11 million in equity. Not just the income
    Equity doesn't pay the loan. Do the math.

  22. #97
    Savvy Veteran spurraider21's Avatar
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    Equity doesn't pay the loan. Do the math.
    Equity can certainly help qualify

  23. #98
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    Equity can certainly help qualify
    Do the math.

  24. #99
    Mr. John Wayne CosmicCowboy's Avatar
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    It's always tough to discuss what qualifies as wealthy with broke people.
    /end thread

  25. #100
    Mr. John Wayne CosmicCowboy's Avatar
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    Federal govt is grain farmers number one compe or. I lost 10% of my acres to them in the last two years. Taxpayers pay 150% of top rental rates so hunters can shoot birds on it.
    You should be planting black oil sunflowers too. Costs about $100 an acre start to finish deductible. Cash business, $150 a day per head. Sammy was hunting about 6000 a year before he sold out to mccombs/Pachanga.

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