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

If the man in the White House gets his way, much of the wealth a family has accumulated over a life time may be taken away from the rightful heirs and given away to others. Oh, they call it a new tax to benefit "the middle class", but is it right? For many who are struggling financially, taking some additional money from the "filthy rich" to redistribute might sound perfectly fair, but is it really?

President Barack Obama will call for increasing taxes on the wealthiest Americans by raising the capital gains rate and eliminating a tax break on inheritances, then using the revenue to fund new tax credits and other cost-saving measures for the middle class.

The president's address — his first to a Republican-led Congress — will also include calls for lawmakers to make community college free for many students, increase paid leave for workers and enact broad cybersecurity rules.

Put it in a more personal scenario.

Say your momma and daddy worked their whole lives to achieve a dream and became extremely wealthy.

Say they made some wise investments and managed their wealth smartly and with diligence and shared some of it along the way. Not only did they pay their taxes, but they gave a good portion of it to charitable causes.

Now you and your siblings get to benefit from their hard work. After all, you are part of their investment. They want to be able to give you and your children, your siblings and their children their wealth when they die. Maybe they have a business and would like to see you and your siblings keep it and even grow it more.

Maybe you're really happy about that because you have four kids that you want to send to the best universities this country has to offer. Maybe you have some dreams, too, and you and your siblings and your children and their children could continue your parents' legacy, and not only continue it, but expand it beyond their wildest dreams.

Now, a man comes along and tells you that you will receive part of what your parents wanted to give you, but he is going to take a huge percentage of it and give to somebody else.

You will still have a lot, so really, what harm is there to take some of it to help other people out, he says. He calls these other people "the middle class", but that is a misnomer and you know it. He says, "other people want to go to college and some of that money will fully pay for two years of it."

Also, he wants to use it to give others more paid leave from their jobs. He doesn't explain who these others are or whether this paid leave is going to be in the form of a check paid directly to the worker, or whether it will be a tax credit given to the company that hires that person that extends him the leave. It is all a bit vague, but for now, just know that he will take from you to give to them.

He DOES know that he wants to take some of your momma and daddy's wealth when they die and give it away when you and your siblings inherit it. He DOES think it is not fair for you to keep your family's earned wealth. And, another tax on top of the regular taxes is just the thing he can use to take it and give it to somebody else.

He DOES think that the answer to everything is tax, tax, and more tax. Then on top of those taxes, add another special tax that will punish you because your parents got filthy rich and according to him, by god....that's just not fair.

This man calls it "The Trust Fund Loophole" and tries to make you feel like a total loser and deadbeat if your parents wanted you and your children to have access to all the wealth they accumulated over the years. He wants to judge you, make judgments about you and your family, and then punish you because of it. He considers you and your family the evil rich.

He doesn't care if your momma and daddy provided the means for thousands to have employment over the years. After all, he doesn't really think "they built that business".

He doesn't care that your family has given tens of thousands of dollars over the years to charitable causes.

He doesn't care that they have always paid their taxes and never once failed to do so, unlike some of his cohorts who still owe the IRS millions.

He doesn't care that your family earned the right to keep all the rest of what they accumulated and built up so that their descendants might have opportunities afforded to them to continue building on their legacy.


Let's discuss the fairness of this type of wealth redistribution.

a reply to: queenofswords

The big question is WHAT do they consider wealthy? (I ask because these things only seem to ever touch the middle class as the real "rich" have legal loopholes).


Paying for a house for 30 years which say may be worth 500k do these asshats consider that rich and want to take it from my kids?

The rich will avoid this, 100%.
They'll pay consultants to redistribute wealth in a way it avoids the law in the same way huge corporations don't pay tax.

It's just another way to screw the population. I work hard for a living- I make more money than your average person in this area.

Should I get hit by a bus tomorrow, my meager lifes work will be given a dollar value and handed over to my brother and is family. A welfare nation can't have that, can they?

Better take it all, sell my assets, and use it to feed people who don't understand what work is. Besides, it's expensive to order pizza three nights a week.

The answer as it has been for along time, is put your assets into a trust.

a reply to: queenofswords

The problem here is that we no longer need jobs anymore to support this place.

We need a new economy this one is in its final stages. Get used to change you won't have a choice.

I honestly do not feel it is right to take what someone else has earned. I am somewhat wealthy myself, but I am also very generous. I do however feel that there are families such as the Waltons that are greedy and abuse the system. Unfortunately due to their business model the government needs to foot the bill for the remaining needs of many of Walmart's employees. The brunt of those expenses are absorbed by the middle class. The group of people that are the driving force of our economy. Let's face it here, the laws and loopholes are set to give advantage to the extremely wealthy. The American Dream only still exists for the lucky few whom actually make it, or the ones already born in. Until corporate and personal greed are a thing of the past, something needs to be done to stop the stockpiling of wealth. How someone can horde so much when so many struggles to keep the basic necessities? When do these people realize that they have enough?

a reply to: AbbaCabba

Very true but also a slippery slope.

a reply to: lordcomac

You really think that's what is going on in our economy don't you? Poor people are all morons aren't they?

a reply to: infolurker

They consider wealthy not needing money anymore. Anyone checking their bank accounts is a slave period.

Gna take a lot of research for you to come to that conclusion.

originally posted by: infolurker
a reply to: queenofswords

The big question is WHAT do they consider wealthy? (I ask because these things only seem to ever touch the middle class as the real "rich" have legal loopholes).


Paying for a house for 30 years which say may be worth 500k do these asshats consider that rich and want to take it from my kids?

They always start off by telling the masses that they are taking from the very wealthiest to help the "middle class".
These are buzz words and phrases that make people go, "Hell yea!"

Unfortunately, it usually turns out that they actually end up taking from the real middle class to fund yet more slush fund programs.

a reply to: onequestion

Yes it is a slippery slope. There was a time that the U.S. was on the cutting edge of everything. We are no longer that nation. We had great educational systems that set our future generations up for success. We had businesses that would invest in training and retaining employees, and in turn those employees would make a career for themselves with said company. Many companies had multiple generations from the same family working for them. It make the middle class stronger and more prominent. Now the divide between upper class and middle class is so far apart. The difference between lower and middle income earners is shrinking every day. The availability of full time employment is dwindling. There are a lot of working poor in this world. Peoples dignity is being sold to beef up the bottom line for tbe shareholders. If companies would reinvest in their people and stop trying to game the system, we would live in a much better place. Unfortunately most very wealthy people only care about earning more wealth. They should be showcasing their common sense and empathy. That would be much more impressive than the giant yacht with a helicopter on deck. Just my point of view.

What's with the momma and daddy bit? It sounds like you are appealing to the innocent child in us all that love our mommies and daddys so much and hope that the big bad wolf don't come and blow our houses down.

There are two sides to this argument. The massive accumulation of wealth in the hands of the kingpins of of this economic scam is part of the reason we are in so much trouble. There are valid arguments for both sides of this issue but couching an argument in the childish manner in which this OP has been written serves no purpose other than to appeal to childish emotion.

President Barack Obama will call for increasing taxes on the wealthiest Americans by raising the capital gains rate and eliminating a tax break on inheritances, then using the revenue to fund new tax credits and other cost-saving measures for the middle class.

He has already raised it multiple times on them evil rich.

That doesn't just hit them evil rich people.

That is an attack on farmers whose wealth is only determined by real estate value.

Capitol gains taxation effects EVERYONE including middle class that has pensions,IRA's,401k's etc.

He wants to do something for the middle class he needs to stop effing with their retirement funds, that also includes union, and government pensions.

Everyone has skin in Wall Street whether they see it or not.

OBama's GD blind bigotry of the rich is what this country fought a revolution over.

A GD tyrant screwing around with taxes, that eventually came back and bit him in the snip.

No matter how much OBama, and his party claim they are for minority rights.

Tax the rich proves the real deal.

They pay lip service to minority rights.

And being rich is a minority.

they sold us on the idea of helping other countries by saying that we were going to raise the quality of life standards of other nations so they would be like ours - electricity, cars, hot and cold running water, heat and air conditioning, grocery stores, cars, department stores, shopping malls, hospitals, restaurants, telephones and so on. at the time, we had it good as a nation so that idea was pretty agreeable. then something went wrong.

apparently what they meant to say was, they would raise the other nations to have our quality of life standards, AFTER they lowered our life quality dramatically. this was supposedly because the western lifestyle was not eco-friendly. but everyone knows that's a crock, since they refuse to implement alternative technologies.

There's nothing defensible about it and it's very likely a tipping point. And if a GOP Congress helps him do this it's just more proof that Washington doesn't work for citizens anymore.

When 1% of the population holds significantly less than 40% of the wealth, I'll feel sorry for their inherited wealth.

When far more than 60% of the Forbes 400 actually earn their money rather than inherit it, I'll feel sorry for their inherited wealth.

The level of inequality in this country is higher than it's been since before The Depression, we have more people on food stamps because employers find it more economically viable to cut hours than to pay a living wage, more children are living in poverty and food banks are constantly running out of food.

You have the gall to complain about a paltry sum of money to alleviate all of this. It'll be a cold, cold day in Hell before I feel sorry for a bunch of rich pricks unable to build their empire beyond their death. That's all inheritance is, building your empire after you die.

a reply to: links234

Bitter much?

Look at it in raw terms, not dollar amounts.

If you own something, anything, and you want to give it to your child upon your death..is it right (ethically) for another to use the power of the State to take it instead?

Answer: Hell no.

How nice.
He wants to take money from my family and send kids to colleges that are failing to prepare kids for the future. I am really getting tired of this clown. Two more years!!!!

a reply to: links234

The level of inequality in this country is higher than it's been since before The Depression,

That is because Obama, and his party, and their endless GD demagoguery of the banking industry has kill investment opportunity that millions of middle class Americans use to use to build wealth.

Like checking with interest,savings,money markets, and cds that all pay EXACTLY jack snip these days.

Those vehicles above is created milionaires.

The creation of SS destroyed millionaires.

The rich people aren't the GD problem in this country.

It's GD politicians who don't know what the EFF they are doing.

a reply to: queenofswords

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




Fine with me. I'd rather inherit the earth anyway. Knock yourselves out fighting for the golden calf and more $nake paper. You will give out eventually.


Takes Hard Work and Sacrifice right?

Now watch this drive....

I might add that it really has nothing to do with the Presidency anymore since 1963. Welcome to reality...its horrifying at first but you get use to it.