Wealth-sucking 1%er.

World's tiniest violin photo needed here.

You can't take it with you, and starting a dynasty is bad for the country.

Tax away.

100% speculation.

Nice throwing around of numbers though.

downpaymentblues: I'd be happy to be an heir with that "problem"

White people problems...

ksdanj: downpaymentblues: I'd be happy to be an heir with that "problem"

White people problems...

.....
No, *rich* people problem.

I have an idea, why dont we just have the Government own everything? The whole issue of taxation will go away.

We could pay everybody the same amount of money every month. Who cares about talent or hard workers? Screw them!

Equality FTW

not only is taxing estates an entirely appropriate way for a democracy to fund itself but its often the only way to tax certain kinds of wealth that goes entirely untaxed during a person's lifetime. Case in point: George Steinbrenner paid $30 million for the Yankees. When he died they were worth $3billion. Steinbrenner paid $0 taxes on that 2,970,000,000 of wealth he accumulated because capital gains are taxed (lightly-15%) only when they are realized (ie the asset is sold or changes ownership). Thanks to the GOP's sunset of the estate tax, his son was able to get $3 billion richer without paying any taxes either. Meanwhile you are paying 20-30% of every dime you earn.

That seem "fair" to you?

cman: I have an idea, why dont we just have the Government own everything? The whole issue of taxation will go away.

We could pay everybody the same amount of money every month. Who cares about talent or hard workers? Screw them!

Equality FTW

Limiting wealth gaps to reasonable limits to prevent abuses like the aristocracy of Europe and Asia used to inflict on their nations is not the same as straight communism.

But thank you for playing.

cman: I have an idea, why dont we just have the Government own everything? The whole issue of taxation will go away.

We could pay everybody the same amount of money every month. Who cares about talent or hard workers? Screw them!

Equality FTW

Because pure communism works as well as pure capitalism. Both are systems better suited for divine beings than humans. But you already knew that and were trying your gosh darned hardest to be clever. I'm sorry to tell you that you've failed.

If an asset is handed to you, you sell them and make a profit then you pay taxes on the profit. Income from your job is taxed, so are gains on capital expenditure. If you don't want to pay taxes on them then transfer them into my name and I'll happily pay taxes on them - then enjoy the $BILLIONS left over.

They're not immune to taxation, just like the rest of us.

doglover: But thank you for playing.

2wolves: I'm sorry to tell you that you've failed.

GreenAdder:

Sorry, I won't let it happen again.

I've also given up my Pall Malls at least four thousand times.

2wolves: GreenAdder:

Sorry, I won't let it happen again.

I've also given up my Pall Malls at least four thousand times.

I was only half trolling.

cman:
I was only half trolling.

but you were full retarded

Kazan: cman:
I was only half trolling.

but you were full retarded

He was reaching out to the GOP base.

downpaymentblues: I'd be happy to be an heir with that "problem"

Agreed.

Well it's not like they earned any of their inherited money, which is true of most of the super rich, Steve coincidentally excluded. He actually produced something. But his inheritors, fark them. All they did was tumble out of the right vagina.

CougarJeff: New, knew. What the hell? Brain must need to be rebooted.

Are you running WFW 3.11?

1. Everything left to his spouse is 100% exempt from taxation
2. Taxing the estate means that the beneficiaries get a bumped-up tax basis and won't incur capital gains or other taxes on appreciation in the value of the assets after their receipt. The alternative is a transferred basis and liability for capital gains at some later date.
3. Shut up.

That explains the "Oh wow!"s.

Stompn_Tom: Steve would have had the best tax ninja team protecting these assets. I don't think some financial planner writing crap pieces to the newspapers would be able to do a better job when they don't even mow all the details.

For what purpose? Where would his money go? To Disneyland? To him in the afterlife?

kronicfeld: 1. Everything left to his spouse is 100% exempt from taxation
2. Taxing the estate means that the beneficiaries get a bumped-up tax basis and won't incur capital gains or other taxes on appreciation in the value of the assets after their receipt. The alternative is a transferred basis and liability for capital gains at some later date.
3. Shut up.

yeah, the article is based on one financial advisor's recommendation that they sell and diversify before cap gains taxes possibly go up. it has not a goddamned thing to do with the big bad government forcing jobs' heirs to sell stock.

Stompn_Tom: Nadie_AZ: Stompn_Tom: Steve would have had the best tax ninja team protecting these assets. I don't think some financial planner writing crap pieces to the newspapers would be able to do a better job when they don't even mow all the details.

For what purpose? Where would his money go? To Disneyland? To him in the afterlife?

To his family or some foundation. To protect his money from taxation (as much as legally possible)

My grandfather used to work for a millionaire businessman as an accountant. He was a big client so he got talked about.

One of things they talked about was the fact he gave his kids several hundred thousand dollars in gifts each year so that when he died their estate would already have been transferred to the kids via the non-liquid assets, like jewelry and property.

So...his heirs only get to keep 85% of the $6.78 billion he left them? I am truly saddened for their suffering.

That's less than you'd lose if you honestly earned that or won it in a lottery. Be happy you get money with that limited taxes.

PacManDreaming: So...his heirs only get to keep 85% of the $6.78 billion he left them? I am truly saddened for their suffering.

I just don't recognize this country anymore. LET'S TAKE IT BACK!

Stompn_Tom: Nadie_AZ: Stompn_Tom: Steve would have had the best tax ninja team protecting these assets. I don't think some financial planner writing crap pieces to the newspapers would be able to do a better job when they don't even mow all the details.

For what purpose? Where would his money go? To Disneyland? To him in the afterlife?

To his family or some foundation. To protect his money from taxation (as much as legally possible)

But why? He's dead, Jim.

Stompn_Tom: To protect his money from taxation

It's income to the kids. It should be taxed as such.

It's really simple, morons:

If it's income to somebody else, then it should be taxed as income. That's why they call it "income tax."

So, his heirs will receive billions in income and could be taxed a Marxist 20%, or less than the percentage that people in the $34,000-$84,000 income bracket pay in Federal Income Tax. The injustice.

oh boo hoo

they should take half when you are that rich...