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Originally posted by phyllida
Welcome to the world we Brits have to live in! We've had these taxes and more for years and it makes dying & death a nightmare! Inheritance tax, v.a.t.,death duty, gift tax (just in case you thought of giving your property to your heirs) they get you every which way. We are, apparently, the most taxed country in the world. I know of people who have been driven to near suicide when parents have died, just having to deal with the red tape and unfairness of it all. There's no compromise with the Tax Man! Oh and God forbid you should save some of your already taxed earnings, coz you'll be taxed on those too!edit on 19-11-2012 by phyllida because: (no reason given)
Originally posted by hawkiye
reply to post by sligtlyskeptical
Life insurance sufficient to cover the estate tax is what people who plan properly use. If profits from the farm are insufficient to cover the insurance premiums then you are likely betetr off selling anyways.
Trusts are what people who properly plan use. Life insurance payouts are taxed also as part of the estate so it does no good. Trusts do not require premiums and do not die therefore are not subject to so called death theft to put it in simplified terms...
Originally posted by Summerian
reply to post by TDawgRex
Arguing against death tax are we?
Do you think political capital should be past down from father to son?
Do you think monetary capital should be past down from father to son?
You want a fair world?
Originally posted by nosacrificenofreedom
You all need to fact check before you guys post disinfo!
In my opinion the estate tax should only be able to be used on monies once in a lifetime and only at a rate of 15%!
Originally posted by MsAphrodite
Originally posted by hawkiye
reply to post by sligtlyskeptical
Life insurance sufficient to cover the estate tax is what people who plan properly use. If profits from the farm are insufficient to cover the insurance premiums then you are likely betetr off selling anyways.
Trusts are what people who properly plan use. Life insurance payouts are taxed also as part of the estate so it does no good. Trusts do not require premiums and do not die therefore are not subject to so called death theft to put it in simplified terms...
Oh I see, the lawyers are the ones who want this illegal double taxation scheme put back into place. I'll bet they benefit handsomely from all those extra clients who are now forced to form trusts. I wonder how much they make per family?
Originally posted by ElohimJD
reply to post by oper8zhin
Your understanding of the two parties core is laughable.
THE DIFFERENCE
Right Wing / Conservative / Republican = Valuing Freedom at the expense of Equality
Left Wing / Liberal / Democrat = Valuing Equality at the expense of Freedom.
Originally posted by oper8zhin
There is something that I just thought about and wanted to share. I have spent many years living in a VERY [color=dodgerblue]BLUE state. I now have spent many years living in a VERY RED state. I gotta tell you, that there were MANY MANY successful farmers doing very well in the BLUE state that I used to live. In the RED state that I live now, these farmers that I know have either SOLD OFF all their land and tractors/equipment or are living paycheck to paycheck with all their children chipping in to pay.
The farmers up in the Blue state are STILL doing very well. They are not profiting AS WELL in the last few years, but they are STILL making excellent profits and enjoying a GREAT LIVING as I keep in touch with them for the line of work that I do. Now I used to be fairly Conservative until SEEING FIRST HAND THESE TWO IDEOLOGIES IN PLAY!!!!
I have first hand experience living in both "UTOPIAS" and the Conservative thinking only benefits the SUPER WEALTHY. PERIOD!! Their ideology is meant to make you think it is right for you if you give it your all, and give it your all 100% of the time, but it BURIES you soon enough and then KICKS you when you are DOWN. 100% HONEST I have SEEN both "UTOPIAS" and that is why I hate the Conservative ideology. The ideology that I at one time had preferred UNTIL I SEEN BOTH IN ACTION for several years first-hand!!
Conservatives do NOT represent the working class, period!!!!! NO. NOPE, NO WAY, NOT EVEN CLOSE!!!
edit on 17-11-2012 by oper8zhin because: (no reason given)edit on Sat Nov 17 2012 by DontTreadOnMe because: Reaffirming Our Desire For Productive Political Debate (REVISED)