Biggest Defaulters on Mortgages Are the Rich

[Bender]

Your rebuttal...

good job

Your re ed, your better off...

bad

[George Gervin's Afro]

Oh please...Obama is pro business?...

Look, wall street and "big" business don't drive the American economy.

Small business is the big job creator and economic engine in the US.

Myself and every other small businessman in the US is looking at this administration and are scared less of the damage they are planning to do to our economy. We already know capital gains are going up, regular tax rates are going up, the death tax is coming back...plus they are planning on ramming cap and tax through during the lame duck session before all the defeated congressmen leave Washington.

Those are all business killers and job killers.

This is the most anti-business Presidential administration I can remember in my lifetime.

so just give up then.. someone else will manage if you don't want to

[Parker2112]

good job

bad

Its sort of like the Al Franken Approach. "Rush Limbaugh is a Big, Fat..."

Personally, I believe very strongly that we are facing one of the biggest threats in the history of this nation....the misinformation movement, coupled with the fear/smear campaigns of the current conservative crop. And I refuse to use civilized tactics vs an uncivilized group. If and when these folks resort to the same tactics that are sinking this nation... whether it be intentional or by way of imitation... they will be demeaned like mangy, neutered dogs.

If they want to engage in debate in a manly fashion, we can go all day.

[spursncowboys]

Its sort of like the Al Franken Approach. "Rush Limbaugh is a Big, Fat..."

Personally, I believe very strongly that we are facing one of the biggest threats in the history of this nation....the misinformation movement, coupled with the fear/smear campaigns of the current conservative crop. And I refuse to use civilized tactics vs an uncivilized group. If and when these folks resort to the same tactics that are sinking this nation... whether it be intentional or by way of imitation... they will be demeaned like mangy, neutered dogs.

If they want to engage in debate in a manly fashion, we can go all day.

Were you alive when Bush was president? This is a very extreme example of tunnel vision. Who is more civilized?
Minute Man group
or
"Pro-(illegal)Immigration

Tea Party
or
Eco-Nazis

[Parker2112]

Were you alive when Bush was president? This is a very extreme example of tunnel vision. Who is more civilized?
Minute Man group
or
"Pro-(illegal)Immigration

Tea Party
or
Eco-Nazis

I'm neither. I'm just an American who stands up to those who would piss on our country and send us to .

[Nbadan]

Strategic defaults

[Wild Cobra]

The "Death Tax?' You are worried about that ? It has nothing to do with job creation or the economy as a whole.

Let me ask you this. If you had a prosperous business worth a few million, died and left it to your children, how are they going to pay those death taxes without liquidizing or selling the business? What happens to the employees?

[CosmicCowboy]

Let me ask you this. If you had a prosperous business worth a few million, died and left it to your family, how are they going to pay those death taxes without liquidizing or selling the business? What happens to the employees?

X1000

What is a small businessman's incentive to invest in his business when he KNOWS it will have to be dismantled at his death and the Federal Government will get the bulk of the proceeds?

[Wild Cobra]

They only correct so far...I was in homebuilding during the last big crunch with the RTC. You reach a point where used inventory is substantially cheaper than the cost to build the same unit new. New construction grinds to zero. Demand eventually sucks up existing supply but it takes years. Then the homes jump in price again when the only alternative for growth is new construction.

We had a different problem here. This home flipping thing shot the existing house prices up. Contractors however were still willing to build new homes for much less than old homes were selling for. We had a construction boom, which now makes the overage of houses even more than it would have otherwise been.

[boutons_deux]

"prosperous business"

you mean a privately owned business, of course. Someone dying out of an incorporated business shouldn't destroyd the business, which is why owners who are truly worried about the business incorporate it, or at least spread the ownership among several/many private stockholders.

What are the estate taxes on a business owner?

What percentage of the entire populace is affected by estate taxes?

$1M tax-free to dependents isn't enough of a tax exemption?

You of course know that the estate tax misconstrued purposely as a death tax (ie, you get "taxed for dying") is nothing but a ploy by the super-rich and their Repug operatives to CONSERVE inherited wealth and privilege and power through generations. They great success of the Repug message is to get dumb bubbas to believe the death tax has any benefit for any working class, rural, red-state bubba.

[CosmicCowboy]

"prosperous business"

you mean a privately owned business, of course. Someone dying out of an incorporated business shouldn't destroyed the business, which is why owners who are truly worried about the business incorporate it, or at least spread the ownership among several/many private stockholders.

What are the estate taxes on a business owner?

What percentage of the entire populace is affected by estate taxes?

$1M tax-free to dependents isn't enough of a tax exemption?

You of course know that the estate tax misconstrued purposely as a death tax (ie, you get "taxed for dying") is nothing but a ploy by the super-rich and their Repug operatives to CONSERVE inherited wealth and privilege and power through generations. They great success of the Repug message is to get dumb bubbas to believe the death tax has any benefit for any working class, rural, red-state bubba.

You really are confused.

Most small businesses are family businesses. Most over 1 million are also corporations, but privately held. The stock is owned by whoever started the company.

The founder invests in and grows his business all his life.

Lets say this company is worth...5 million.

The founder dies.

Now the heirs (that may even work in the company) owe 55% tax on 4 million.

$2,200,000.

They have to sell/liquidate the company to get enough money to pay the taxes.

[Nbadan]

..your assuming that the business owner had the worst tax attorney in the world...by the time most business owners pass, they have very little in their names..

[Ignignokt]

This thread le would only surprise those who are ignorant of what the Housing Bubble was about.