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So Paris Hilton *isn't* a lazy ?
So Paris Hilton *isn't* a lazy ?
There is not a tax when you sell these assets as capital gains. You acquire the post tax value as your basis, to my understanding.
[edit=added the words "full value", as seems to be implied above]
Can you please show me where you have to pay a capital gains tax on the full value of items you sell in an inheritance?
Link?
Last edited by RandomGuy; 12-10-2010 at 02:03 PM.
Paris Hilton is a stupid that can't even do a decent sex tape but she has a more legitimate claim to her parents life savings than the US Government.
Are the inheritor and the deceased seperate people?
Income is done on an individual basis.
For your logic to be applicable, you and your parent must be the same person.
The economic benefits someone else enjoys are not income to you.
No doubt.
I agree, on all counts.
I also think that the only thing she did to deserve that claim is be lucky enough to have rich parents.
As such, that income should be differentiated from income earned at a job, and taxed accordingly.
So in the case of a business being passed from father to son, you are in favor of bankruptcy for the business, and putting people out of work?
If the business is so poorly run as to not be able to plan effectively, then the business probably wasn't all that great to begin with.
I am not in favor of coddling poor business practices, no.
So you wish to force a business owner to bend his ways to the corporatate view. Sell stocks, or something else that effectively takes away the business as wealth?
Wealth is wealth. How can you shield it from the IRS?
Paris Hilton "deserves" millions of dollars.... ah... why? Because she was born by chance to the right family? So I guess kids growing up in the Horn of Africa "deserve" to not even have shoes on their feet since they didn't hit the parental jackpot.
Think about what you're saying, money is essentially a birthright.
That Exodus quote is bull here too, he's not coveting his neighbor's stuff. How do we know the money collected for estate taxes isn't going to our military welfare system? That's the only element of government that operate on a de facto blank check.
And when he was gone forth into the way, there came one running, and kneeled to him, and asked him, Good Master, what shall I do that I may inherit eternal life?
And Jesus said unto him, Why callest thou me good? there is none good but one, that is, God.
Thou knowest the commandments, Do not commit adultery, Do not kill, Do not steal, Do not bear false witness, Defraud not, Honour thy father and mother.
And he answered and said unto him, Master, all these have I observed from my youth.
Then Jesus beholding him loved him, and said unto him, One thing thou lackest: go thy way, sell whatsoever thou hast, and give to the poor, and thou shalt have treasure in heaven: and come, take up the cross, and follow me.
And he was sad at that saying, and went away grieved: for he had great possessions.
And Jesus looked round about, and saith unto his disciples, How hardly shall they that have riches enter into the kingdom of God!
And the disciples were astonished at his words. But Jesus answereth again, and saith unto them, Children, how hard is it for them that trust in riches to enter into the kingdom of God!
It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God.
-Mark 10:17-25 (Jesus on the "Natural" Death Tax)
RG...
What happens when you apply your velocity of money argument to lower taxes for people to have more money to spend for economic growth?
You have a dollar, and you use that dollar to buy a sandwich at the local diner. That is income to the diner. It uses that dollar and pays its water bill. That is income to the utility. The utility uses that dollar and pays an employee. That is income to the employee. That employee then spends it at your business, that is income to you.
At each stage this income is taxed, and is not "double taxation".
Using your logic, if a dollar passes through more than one hand in a year, it is "double taxed".
Currently, it is estimated, if memory serves, that any given dollar in circulation passes through 7 hands in a given year, i.e. the "velocity of money".
Do you consider these seven different people as having been "septuple taxed"??
Have I mis-applied your logic? are you the same person as your parent?
Do the economic benefits that other people enjoy cons ute income to you?
The smiley doesn't really answer any of my questions.
That has to do with the general morality of the rich. Not being rich.Mark 10:17-25
In the case of coveting other people's money... Liberals for some illogical reason believe in giving to the poor, with other people's money. They fuel the "coveting" of other people's wealth. They say everyone deserves health care. However, they are coveting what others have, and have to steal the wealth from others to give it to all.
you s bag godless liberals.
Estate taxes are a pretty small portion of the revenues. Why worry about such things when it helps the government far less than it huts those it's imposed upon?
Yes, you have.
I am saying it is double taxation. I'm saying if you try to misapply my logic, it is triple taxation, not double.
By the way:
you, you God-damned, hypocritical, sanctimonious, sack of .
If you want to get into the Bible-quoting pissing contest,
For someone who probably says rather rude things to homeless people who ask him for money, spare me the lecture."There will always be poor people in the land. Therefore I command you to be openhanded toward your brothers and toward the poor and needy in your land." Deuteronomy 15:11
"Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment. Command them to do good, to be rich in good deeds, and to be generous and willing to share. In this way they will lay up treasure for themselves as a firm foundation for the coming age, so that they may take hold of the life that is truly life." 1 Timothy 6:17-19
"Then he will say to those on his left, 'Depart from me, you who are cursed, into the eternal fire prepared for the devil and his angels. For I was hungry and you gave me nothing to eat, I was thirsty and you gave me nothing to drink, I was a stranger and you did not invite me in, I needed clothes and you did not clothe me, I was sick and in prison and you did not look after me.' They also will answer, 'Lord, when did we see you hungry or thirsty or a stranger or needing clothes or sick or in prison, and did not help you?' He will reply, 'I tell you the truth, whatever you did not do for one of the least among you, you did not do for me.'" Matthew 25:41-45
People who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge men into ruin and destruction. For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs." 1 Timothy 6:9-10
"For what profit is it to a man if he gains the whole world, and lose his own soul? Or what will a man give in exchange for his soul?" Matthew 16:26
"Riches and honour are with me; yea, durable riches and righteousness. My fruit is better than gold, yea, than fine gold; and my revenue than choice silver." Proverbs 8:18, 19
"Then [Jesus] said to them, 'Watch out! Be on your guard against all kinds of greed; a man's life does not consist in the abundance of his possessions.'" Luke 12:15
Ok randomguy, I'm going to give you a scenario, and you try (without being a condescending prick like you usually are and really have been in this thread), you explain to me why you see it as fair.
My father went to Vietnam right out of High School, he never went to college. Upon returning home he went into construction as a 'helper' (I know this blows the mind of career students like yourself). Over the past 40 years he's been slowly promoted, promoted, promoted until he reached what he considers to be his peak in his profession (he's the COO of a major construction company).
He wasn't a savvy investor, he didn't spend his life being a head to others on the internet, and he never had a formal education. He worked his ing ass off.
When he passes, he will be worh somewhere in the area of 10 million plus a million dollar home. Why is it fair for the United States Government to tax that 11 million dollars? Furthermore, what do you suppose that money will be used for?
Like I said, try to answer the question without sounding like a ing sucer the way you usually do.
I have not found what you talk about as an exclusion to paying capital gains. Please show me where such a transaction is an exclusion to capital gains.
There is not a tax when you sell these assets as capital gains. You acquire the post tax value as your basis, to my understanding.
Can you please show me where you have to pay a capital gains tax on the full value of items you sell in an inheritance?
link?
I am not mis-applying anything.
I think you don't know what the you are talking about.
Bull has been called.
Either you can show me the mechanics of the transaction, and your understanding runs directly counter to what I understand, or you can't.
The context is absolutely perfect. Jesus is telling the rich to give away their money (to the poor, no less) when they die.
Unbelievable... It doesn't hurt them at all.Estate taxes are a pretty small portion of the revenues. Why worry about such things when it helps the government far less than it hurts those it's imposed upon?
Paris Hilton may be a stupid but at least she has to live within a budget. I would rather she get the money than have the government give it to Karzi's brother (who recently was intercepted going to Dubai to bank 52 million in cash and still got to keep it).I agree, on all counts.
I also think that the only thing she did to deserve that claim is be lucky enough to have rich parents.
As such, that income should be differentiated from income earned at a job, and taxed accordingly.
Yes, and Christians freely give to the church and charities, regularly. That is a far cry different than being compelled to do so by the government.
Understand the meaning of "free will" related to spirituality by chance?
When we are compelled to do something, who can tell if we would be as charitable or not under free will?
Typical liberal thinking. Treat everyone as the lowest common denominator when it suits an agenda.
you.
I try not to be condescending until being insulted. I don't always succeed, but I do try.
Shove your question up your ass until you can yourself ask it politely, hypocrite.
I rather payoff some debt, however small, than see Paris Hilton get to buy a new pink Bentley to match the color she spray painted her dog.
LOL...
Lets see if we can push more buttons...
have any that make you go supercritical?
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