U.S. House passes estate tax repeal

All I'm hearing is basically lets tax the rich people because they're rich and let's give it to the govt that will appropriate it to the people. The problem with this is that it doesn't happen. Our govt misspends our money every day, can't balance the budget, and let's the IRS target politically parties that it doesn't agree with.

Ps- I didn't here a peep out of y'all when Obamas taxes came out a couple weeks ago and we found out he only pays an effective tax rate of 20% @ $400,000+ a year. You can't serve two masters, so figure out who you want to be mad at.

a reply to: FyreByrd

I just found out this morning that this "death tax" legislation also is the deal knell for the "earned income tax credit" that helps millions of middle class workers lower their taxes.

So - the wealthy get more tax breaks and THE MIDDLE CLASS PAY MORE TAXES.

(the source is in an article at Alternet.net but I've not time to track it down until later)

Happy Monday.

originally posted by: beezzer
a reply to: links234

Doesn't it eliminate taxing money twice? I mean, it's income, that has been taxed, then given to a survivor or relative after a persons death, then you want to tax it again, just because it was given to someone else.

Thank you. I'm so tired of this "They deserve to be taxed until they're as poor as I am because they're wealthy!".

Hey. I have an idea. Let's discourage wealth and success by taxing people for making money!

originally posted by: beezzer

originally posted by: intrepid

originally posted by: beezzer

originally posted by: intrepid
a reply to: beezzer

I think the point is that it IS a tax break....only for the wealthy.

It is a tax break.

And I am all for tax breaks,, simply because government doesn't spend wisely.

Are you working under the assumption that government spends wisely?

Never even implied it. The point is that it's a tax break for those that need it the least. Screw everyone else.

Ahh, sorry.

This is a class warfare thread.

Hate on those who have more. Let's take it and give it to government because government knows how to spend it better!

No?

If congress can only agree on Tax Breaks for the wealthy...that is not hating "on those who have more"...it is "coddling" them, as Warren Buffet puts it.

The "Anti-Tax" BS the GOP tries to sell would be much more convincing if they were in any way trying to help the middle or lower class..

But every time they actually get worked up and push legislation, it is for tax breaks for corporations and millionaires?

Sorry...but there is a whole lot of economic pain in this country and it is getting worse every year...and the only ones NOT feeling it are the wealthy...cuz the GOP are making sure of it.

Every new tax break for millionaires equals cuts to infrastructure and other programs...or a tax break that the middle class could have gotten.

originally posted by: Indigo5
Every new tax break for millionaires equals cuts to infrastructure and other programs...or a tax break that the middle class could have gotten.

Or a new, maybe hidden, tax on the middle class to make up the loss.

the 2016 budget for DHS is almost 65 Billion dollars.

I guess everyone here would rather have the DHS and tax people more rather than give the government less.

I wasn't aware that so many here wanted DHS, TSA, NDAA and a larger government.

Well, you big-government, totalitarian-loving folks, no need to worry.

Obama will veto it, so big ol' government will still get everyone's money.

originally posted by: intrepid

originally posted by: Indigo5
Every new tax break for millionaires equals cuts to infrastructure and other programs...or a tax break that the middle class could have gotten.

Or a new, maybe hidden, tax on the middle class to make up the loss.

Oh..it's not even hidden. Federal grants for education? CUT...Federal matching funds for infrastructure improvements? CUT etc. etc. Still have to write checks to those Military Contractors? No problem...reduce federal grants for college and stop funding cancer research. The middle class has to backfill those give aways every day in every way a million different ways.

originally posted by: beezzer
Obama will veto it, so big ol' government will still get everyone's money.

I thought you were going after both parties. Doesn't seem so. Those agencies that you mentioned were created during Bush 2. Seems like the GOP isn't much interested in small government either.

a reply to: intrepid

I hate it when the gov't caters to the wealthy at the detriment of the lower classes.

It's income that's already taxed. I don't have that type of inheritance ... but even I can see that this is robbery by another name. The lower class is not entitle to it ... it's not theirs to begin with.

originally posted by: beezzer

originally posted by: Greathouse
a reply to: beezzer



Let me tell you something beez I will fall on the bottom tier of the inheritance tax. I've managed to avoid the state tax by establishing and maintaining a resident in Florida where there is no inheritance tax.

Yet I am all for the Federal inheritance tax. The reason is that tax will affect me minimally, but it's severely penalizes the upper 1% in America.

Not going for it.

Class warfare is class warfare.

I don't begrudge anyone who is successful nor do I think they should be punished for it.

Until such time that anyone can show me that government is spending every dime wisely, I'm going to be against giving them anything.

I'm pretty sure that inheriting your wealth isn't "being successful" and more akin to winning a genetic lottery.

originally posted by: intrepid

originally posted by: beezzer
Obama will veto it, so big ol' government will still get everyone's money.

I thought you were going after both parties. Doesn't seem so. Those agencies that you mentioned were created during Bush 2. Seems like the GOP isn't much interested in small government either.

Yet the Obama administration isn't getting rid of it.

And I'm not sure how you got that I was for the DHS when I'd like to see it gone and defunded and have everyone pay less taxes.

Not sure I'm getting your point.

originally posted by: joemoe
It's income that's already taxed. I don't have that type of inheritance ... but even I can see that this is robbery by another name. The lower class is not entitle to it ... it's not theirs to begin with.

It amazes me that people want lower taxes and seldom get them but the are OK with those with much more getting a break that " The lower class is not entitle to it ... it's not theirs to begin with." While they are saying, "Let them eat cake" the people are saying, "Way to go dudes." Unfathomable.

originally posted by: Krazysh0t

originally posted by: beezzer

originally posted by: Greathouse
a reply to: beezzer



Let me tell you something beez I will fall on the bottom tier of the inheritance tax. I've managed to avoid the state tax by establishing and maintaining a resident in Florida where there is no inheritance tax.

Yet I am all for the Federal inheritance tax. The reason is that tax will affect me minimally, but it's severely penalizes the upper 1% in America.

Not going for it.

Class warfare is class warfare.

I don't begrudge anyone who is successful nor do I think they should be punished for it.

Until such time that anyone can show me that government is spending every dime wisely, I'm going to be against giving them anything.

I'm pretty sure that inheriting your wealth isn't "being successful" and more akin to winning a genetic lottery.

So eff the rich bastards, right?

Get all their money!

They didn't earn it, it was given to them.

Lets just shoot 'em all, those evil rich greedy greed-heads!

originally posted by: beezzer

originally posted by: Krazysh0t

originally posted by: beezzer

originally posted by: Greathouse
a reply to: beezzer



Let me tell you something beez I will fall on the bottom tier of the inheritance tax. I've managed to avoid the state tax by establishing and maintaining a resident in Florida where there is no inheritance tax.

Yet I am all for the Federal inheritance tax. The reason is that tax will affect me minimally, but it's severely penalizes the upper 1% in America.

Not going for it.

Class warfare is class warfare.

I don't begrudge anyone who is successful nor do I think they should be punished for it.

Until such time that anyone can show me that government is spending every dime wisely, I'm going to be against giving them anything.

I'm pretty sure that inheriting your wealth isn't "being successful" and more akin to winning a genetic lottery.

So eff the rich bastards, right?

Get all their money!

They didn't earn it, it was given to them.

Lets just shoot 'em all, those evil rich greedy greed-heads!

That was amazing Beez. It gets an:



No, what we're saying is let them pay their fair share. Not get tax breaks that the other classes "aren't entitled to."

originally posted by: BrianFlanders

originally posted by: beezzer
a reply to: links234

Doesn't it eliminate taxing money twice? I mean, it's income, that has been taxed, then given to a survivor or relative after a persons death, then you want to tax it again, just because it was given to someone else.

Thank you. I'm so tired of this "They deserve to be taxed until they're as poor as I am because they're wealthy!".

Hey. I have an idea. Let's discourage wealth and success by taxing people for making money!

They're dead, it's all about who their money goes to. Wealth grows exponentially, holding wealth in a family for 2-3 generations over a period of years allows certain families to build up massive amounts of influence in business and politics. An estate tax cuts that down by largely negating the exponential wealth gain.

a reply to: beezzer

Wow. Hyperbole much?

Sorry, I just don't by the "double taxed income" argument. It's stupid because frankly the child is getting income from the parents through the inheritance. The money is passing ownership. So it is income again. Tax it.

a reply to: intrepid

I work for my money and I do not expect handouts! Unlike this current generation, I prefer to earn my money, it just feels better. Do you realize that the top 20% pay 93% of the income tax and the bottom 40% either pay nothing or live off the government? We can bitch about it all we want, but without the top income earners we would be flat broke. I have no problem with them passing on their wealth.

originally posted by: joemoe
Do you realize that the top 20% pay 93% of the income tax and the bottom 40% either pay nothing or live off the government?

Don't know where you get that from. I would LOVE to stats back that up. That was nicer than saying "BS".

a reply to: intrepid

Here I'm sure you can find more google is your friend.

originally posted by: intrepid

No, what we're saying is let them pay their fair share. Not get tax breaks that the other classes "aren't entitled to."

They are paying their "fair share".

And we lower class people aren't getting those tax breaks because they only target the wealthy.

But you'd rather see departments like DHS get funded rather than defund them with fewer taxes.