Food stamp cuts hit 9 million elderly and disabled people

[Wild Cobra]

More than half of the wealth in the US is held by fewer than 400 families.

You might want to re-think that %.



https://en.wikipedia.org/wiki/Gini_coefficient
http://www.economist.com/blogs/democ...uality-america

Envy is unhealthy. Is that the root of your problems?

[Wild Cobra]

You can. It'll be less than $5M. Stop ing. Estate Tax doesn't apply to you.

But people like Random want to change that.

[TeyshaBlue]

Youre the arbiter of qualifications now? Many multigenerartional businesses ride upon the accomoplishments of successors. What is your metric of parental lottery children?

*Random Crickets*

[Th'Pusher]

But people like Random want to change that.

in what post did RG recommend decreasing the exemption for estate taxes?

[Pelicans78]

The $120,000 is 4% interest/dividends on the $3 million. You do realize that taxes have to be paid too. I'd want to travel and do lots of things before winding down in my old age. Dh's grandmother lived until she was 103, his mom is 87 and still active. And if you have something like Alzheimer's (a mental, not physical problem) - that could be a long time in a facility.

Alzheimer's becomes a physical problem over time due to less activity, less eating, and more prone to infections.

[DeadlyDynasty]

Obviously the reasonable solution is forced sterilization.

Haha, just kidding, only a sociopathic nutcase would think that was a justifiable idea.

Putting a halt to an entire generation of welfare queens is more justifiable than punishing those who actually contribute to society. "Forced sterilization" is a little extreme for 2016, but irradiated government cheese would be an interesting experiment

[vy65]

in what post did RG recommend decreasing the exemption for estate taxes?

#730

[rmt]

Alzheimer's becomes a physical problem over time due to less activity, less eating, and more prone to infections.

Yes, eventually. My aunt has Alzheimer's but is physically healthy. My uncle's mind is great, but his body is failing. Didn't Reagan have Alzheimer's for 10 years? I'm bracing myself for my parents' and mother-in-law's decline. I'm already driving them to doctor appointments.

[Th'Pusher]

#730

He is referring to income taxes, not the estate tax in that post.

[Pelicans78]

Yes, eventually. My aunt has Alzheimer's but is physically healthy. My uncle's mind is great, but his body is failing. Didn't Reagan have Alzheimer's for 10 years? I'm bracing myself for my parents' and mother-in-law's decline. I'm already driving them to doctor appointments.

It progresses over time depending the severity of it, but they all end up laying in a bed for 24 hours not being able to feed themselves, control their bowels, etc. Eventually it's a chronic illness that is mild at first like heart disease, diabetes, kidney disease, etc.

[vy65]

RG was referring to income taxes when he answered the question of what to tax 100% with "estate taxes?"

[Th'Pusher]

RG was referring to income taxes when he answered the question of what to tax 100% with "estate taxes?"

I don't necessarily disagree with this. But I have to wonder just how much we would actually gain by doing this. What are we going to do tax at 100%? Because if we did that, I'm still unsure that it would actually solve our problem.

No one is saying that would be necessary or even desirable.

I personally would oppose such a thing as being really dumb policy.

Thing is though, the people benefitting the most from the economy, are the wealthiest who have seen their incomes rise over the last 20 years, yet their tax burden has actually fallen as a percentage of their income.

They have the most capacity to bear the costs of what is benefitting them.

A modest tax increase to make needed investments is what is called for, IMO.

I don't think you're following the conversation tbh. WC said that RG was advocating lowering the $5M Estate Tax exemption. Neither of you have been able to point to a post where he said this. Feel free to do so at any time.

[vy65]

Sure, #730. The post you didn't copy/paste above. Please tell us what RG's first two words are in it.

[Th'Pusher]

Sure, #730. The post you didn't copy/paste above. Please tell us what RG's first two words are in it.

Estate taxes, that force rich kids to actually fend for themselves, and keep us from having a permanent aristocracy.

Paris Hilton is what I think of when people say "sense of en lement"

Ok. Show me where in this statement he advocated reducing the $5M Estate tax exemption?

[vy65]

I don't necessarily disagree with this. But I have to wonder just how much we would actually gain by doing this. What are we going to do tax at 100%? Because if we did that, I'm still unsure that it would actually solve our problem.

Estate taxes, that force rich kids to actually fend for themselves, and keep us from having a permanent aristocracy.

Paris Hilton is what I think of when people say "sense of en lement"

[vy65]

Is taxing estates 100% consistent or inconsistent with reducing the 5MM cut off?

[Th'Pusher]

Is taxing estates 100% consistent or inconsistent with reducing the 5MM cut off?

I've already shown he was not advocating taxing at 100%. TB threw that figure out there and as I quoted earlier, RG rejected that as "really dumb policy". Instead he suggests a "modest tax increase", which is totally consistent with NOT reducing the $5M exemption.

[boutons_deux]

$14K/year is the IRS limit for cash gifts. the "gift" of estate transfer should be the same.

[spurraider21]

that's ridiculous

[Will Hunting]

The $5MM exemption isn't the problem at all, it's the crazy amount of loopholes that exist with the estate tax. Any estate lawyer worth half his would be able to squeeze a $100MM estate into the $5MM exemption with ease.

[boutons_deux]

that's ridiculous

unearned income is unearned income, should be fully taxable. Why are children "EN LED" to $Ms of untaxed income?

[TeyshaBlue]

Because each dollar has already been taxed as income. Classify it as capital gains then tax it.

[Will Hunting]

I don't get the "Because it's already been taxed!" argument. Is there some rule of nature that you can't tax the same thing twice? If so, then the same argument would apply to the sales tax yet conservatives love the sales tax.

Ultimately, it comes down to the fact that income produced by labor goes down every year while income produced by capital goes up, yet income produced by capital is taxed at its lowest rate since the great depression. If you're looking for a way to raise taxes, increasing taxes on capital produced income is the obvious move.

[TeyshaBlue]

Its been taxed as income. You dont double tax income. Tax it as something else. Jeebus.

[Will Hunting]

You dont double tax income.

Why not? Does the universe explode if you tax something twice?