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Your momma and daddy may have to give away much of your inheritance to someone else

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posted on Jan, 18 2015 @ 10:43 PM
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We'll still likely have no inheritance taxes on estates worth less than $2 million.




posted on Jan, 18 2015 @ 10:47 PM
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a reply to: Tusks

The $ amount doesn't matter...it's the principle.

No matter how much, it's already been taxed.



posted on Jan, 18 2015 @ 10:48 PM
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Here is some info on the often maligned 1%.



The average household income of the 1% was $1.2m in 2008, according to federal tax data. The ultra-rich skew that average upwards: admission to the 1% began at $380,000 in 2008. The Congressional Budget Office puts the cut-off lower, at $347,000 in 2007, or $252,000 after subtracting federal taxes and adding back transfers. Measured by net worth, rather than income, the top 1% started at $6.9m in 2009, according to the Federal Reserve, down 23% from 2007.


Additional food for thought:
For those aspiring to send their children to the best university (you know the one Obama got to attend), Harvard,
the annual total list price cost to go to Harvard University was $57,407 for the 2013/2014 academic year.



posted on Jan, 18 2015 @ 10:48 PM
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a reply to: superluminal11

Well hoorah.

Sic semper tyrannis.

Hey then rich folk don't matter!

Screw them, and their children!

So much for liberty, and EQUALITY.

Comes right down to it, just because someone has more than someone else.

Their rights don't mean nothing.

Rich people only exist to service the mob.

So the mob can go out, and buy more stuff.

That is if there is anything left, after the government blows it on studying cow farts, and not giving it to evil countries like Israel, or arming terrorist regimes in the ME.


edit on 18-1-2015 by neo96 because: (no reason given)



posted on Jan, 18 2015 @ 10:53 PM
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How many of you thought the "evil 1%" were all earning several million dollars a year?

Most people don't realize who they really are.



posted on Jan, 18 2015 @ 10:56 PM
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Looks like the travel agencies will be booking lots of vacations to the Caymen Islands !!



Welcome to the Cayman Islands




Cayman Bank Accounts
With no direct taxation, the Cayman Islands are a thriving offshore banking and finance centre. The Cayman Islands financial services industry has developed along a path similar to that in other offshore centers, on the strength of private banking and company registration. While meeting the needs of high net worth individuals is still an important aspect of the industry, recently the focus has moved very much towards institutional business. The Cayman Islands...


The growth of the country’s financial golden goose started, so legend has it, in 1794. In the swashbuckling days of pirates...


Cayman Islands Banking






posted on Jan, 18 2015 @ 10:57 PM
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originally posted by: queenofswords
How many of you thought the "evil 1%" were all earning several million dollars a year?

Most people don't realize who they really are.


No they don't.




posted on Jan, 18 2015 @ 11:03 PM
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You're right, neo. That's taking The Whole World into account.

My figures are for the USA only.



posted on Jan, 18 2015 @ 11:08 PM
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a reply to: queenofswords

Look the point neo is trying to make has nothing to do with the trend which is what we're really talking about here.

We're looking at the trend this is going to follow and putting the breaks on it before it becomes a situation similar to one of the situations in his picture.



posted on Jan, 18 2015 @ 11:11 PM
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a reply to: neo96

No let's be more logical here now shall we?

Some rich people really are a problem but so is the government.

Ok better?



posted on Jan, 18 2015 @ 11:15 PM
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a reply to: xuenchen

Don't count on it. WE GLOBAL now baby.



posted on Jan, 18 2015 @ 11:22 PM
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a reply to: neo96

Countries in general are not evil...its big dawgs in politics corporations judicial military education and science that call the shots and all those that follow in those countries that are the problem.



posted on Jan, 18 2015 @ 11:24 PM
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We've had estate tax for a long time. These swings this or that way are something that happens, and doesn't deserve such a sensational title. In all honesty... people should earn their wealth, not have it inherited. What you find is a high tendency for families of vast wealth to squander the monies within about 3 generations. Not only this, the century or so long road back to rags is often seen alongside a bit of issues for the spoiled rotten.

Parents do their children wrong by spoiling them. This, coming from someone who's parents are now just into the 1% for about the last decade. Well, we started poor. I know what it's like to live poor, lower-middle, upper-middle, and now a bit rich. There's issues with each socioeconomic class. I'd rather be happy and lower/upper middle class than poor or rich. It's the extreme's you gotta watch out for.

A leveling of the playing field is the only thing that'll save us from collapse as the century plays out. This isn't about socialism, communism, or what have you, it's about decency, common-sense, and respect for my fellow human beings. Give people enough stressors to flourish, but no more. That is the way of real progress. Spoiling is providing too much of a once good thing. I don't want my parents monies. I may end up donating it when the time comes. I have enough self-respect and ability to earn my own in this world.
edit on 18-1-2015 by pl3bscheese because: (no reason given)



posted on Jan, 18 2015 @ 11:27 PM
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First, I'd like to hear a Democrat define rich. Is it 1 million dollars, 10 million dollars, a hundred million dollars?

Second, I believe that a family should be able to leave the bulk of their assets ( if less than say 10 million dollars) to their kids without any tax penalty. I think family farms should be able to be passed to kids without any tax. Once again, there should be some upper limit on the value of the land.

If your estate is more then 10 million, then put a sliding scale death tax on it. Above 100 million.... 90% tax

Make corporations that earn more than 10 million dollars profit per year have a minimum tax of 10% That way you don't have companies like GE paying 0 tax.

Pass a law that companies have to pay tax on overseas profits annually, not when they bring the money back to the US.

I'd also like to see pretty much a flat tax on income until you're making over 1 million per year. Then you could escalate the tax rate in proportion to the income.



posted on Jan, 18 2015 @ 11:29 PM
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originally posted by: onequestion
a reply to: neo96

No let's be more logical here now shall we?

Some rich people really are a problem but so is the government.

Ok better?


The logical thing here to do is abolish the income tax.

Instead of nickle, and diming the minority because the potus hates rich people.

Yo he needs to stop treating them like 'terrorists'.



posted on Jan, 18 2015 @ 11:34 PM
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a reply to: pl3bscheese

That's all pie in the sky.

The State does not have a track record for spending even reasonable taxes in effective ways..much less should they be able to tax money that has already been taxed more than they already do.

You want a level playing field? Stop spending current tax dollars on foreign aid and foreign wars and use it to fix the educational system instead.

There are a dozen ways to make things more "fair" but it dang sure shouldn't start by stealing money from fellow citizens who have already paid up.



posted on Jan, 18 2015 @ 11:34 PM
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OP do you have a source for your link?

Personally.

I think what ever singular venture a person could want to do hording millions of dollars is miniscule in the scheme of what is important to humanity.

It's likely if someone is hording a lot of money chances are they cheated a lot of people to get it.

No one wakes up with a million dollars stuffed of their ass, As if blessed by the gods they recieved the lump sum of money in their Anus.

Money comes from people. And if someone is hording a rediculous ammount of cash. I personally believe they are theives protected by the wealth they squandered.

Is there any way to deny that? Even running a *Legit Buisness* If you are pushing record profits. You are robbing someones pocket, Or destroying the enviroment.

The less money these kinds of people have the better. And if the community gets educated so that technology can replace mundane tasks? All the better. However i think the OP is making this all up.

You sounds like a supporter of corperate tyrany. Like those people who have that money deserve it. Not many people who earn millions of dollars. Deserve those millions of dollars.
Are you a fan of the Koche brothers OP?
edit on 18-1-2015 by AnuTyr because: (no reason given)



posted on Jan, 18 2015 @ 11:37 PM
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a reply to: Wildbob77




If your estate is more then 10 million, then put a sliding scale death tax on it. Above 100 million.... 90% tax


Screw that too.

The government gets 90 million?

The inheritors 10 ?

That is just as messed up.

Abolish the death tax.

The state has no right to take what it has taken a life time for most people to build up.



posted on Jan, 18 2015 @ 11:39 PM
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originally posted by: kosmicjack
a reply to: pl3bscheese

That's all pie in the sky.

The State does not have a track record for spending even reasonable taxes in effective ways..much less should they be able to tax money that has already been taxed more than they already do.

You want a level playing field? Stop spending current tax dollars on foreign aid and foreign wars and use it to fix the educational system instead.

There are a dozen ways to make things more "fair" but it dang sure shouldn't start by stealing money from fellow citizens who have already paid up.


If they wanted to level the playing field they would stop intentionally devaluing the dollar.

The less value money has the more they want to raise taxes.

They need to fix our money.



posted on Jan, 18 2015 @ 11:42 PM
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a reply to: AnuTyr




Money comes from people.


No it doesn't.

The government pulls it out of their snips via the federal reserve. That prints it out of thin air.

Fiat money.

All this angst over worthless pieces of 'paper' is just ludicrous.




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