Taxes

CriticalBill wrote:

archer wrote:

Rockdoc Franz wrote:

CriticalBill wrote:

cydl wrote: ...and after death there is the estate tax...

Forgot about that one. I'm surprised the left hasn't proposed a cash hoarding tax for those people who stockpile money in banks and don't spend it. Greedy bastards!

Yes, how dare they save and not share <dripping sarcasm>

Oh come on....it's bad enough one poster makes up a straw man argument....then another takes it an gets snarky over it. No wonder nothing ever gets discussed around here.

You know archer, sometimes you need to just relax. You really don't have to be serious all the time....if you can't figure out what sarcasm is, I can't help you. And is it really that far fetched a concept since a guy can work his whole life to give his kids a better life, then when he dies, half of his hard work goes to the government and not the kids it was intended for?

This is how rumors become lies - they get repeated and then amplified in echo chambers.

TPC estimates that 8,600 individuals dying in 2011 will leave estates large enough to require fil-ing an estate tax return (estates with a gross value under $5 million need not file a return in 2011). After allowing for deductions and credits, an estimated 3,270 estates will owe tax. Roughly 90 percent of these taxable estates will come from the top ten percent of income earn-ers and nearly half will come from the top one percent alone.

http://www.taxpolicycenter.org/briefing ... te/who.cfm

Unless your estate is over $5 million gross, and you are incompetent at tax planning, when you die none of your "hard earned money" will go to the government, much less the 50% that you claim.

Wow, if cydl is one of those 3,270 people that has an estate worth over $5mil, I want a loan!!!

CriticalBill wrote: You know archer, sometimes you need to just relax. You really don't have to be serious all the time....if you can't figure out what sarcasm is, I can't help you. And is it really that far fetched a concept since a guy can work his whole life to give his kids a better life, then when he dies, half of his hard work goes to the government and not the kids it was intended for?

sarcasm is no excuse, sorry, maybe I am just sick and tired of liberals being blamed for things they never did and don't intend to do. You guys run out of stuff to whine about so you make sh*t up, then run with it. dishonesty is rarely amusing.

And kate is right.....your poor guy can probably give his kids a pretty decent life with $5 million tax free and then 35% (max) tax on the rest. I would be happy to make enough that my estate would be subject to tax, and my kids would be ecstatic.

Kate wrote:

cydl wrote: ...and after death there is the estate tax...

Only for those estates with a gross value of over $5 million.

Depends on which state you live in. Some states are nice enough to pile on.