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2013 will be a bad year to die.


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Posted

Funny how this is a topic now.

I got a letter in the mail about this on November 19th.

It reads as a result of the re- election of president Obama, there exists the real possibility that the estate tax exemption will drop from the current exemption of 5,000,000 to the old limit of 1,000,000. The estate tax rate will be over 50 percent before distribution to any heirs.

For this reason ,prudence dictates for those with sizable estates like your uncles that steps are taken to reduce their estates while making sure the estate retain enough funds to care for Him during his lifetime.

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Posted

Is it bad I already knew what most of the responses and who would post what before I opened this thread.

Work hard your whole life.

Have a nest egg to leave your kids.

Forced to give 55% to the Feds.

and many here thinks thats ok...

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Posted

maybe those kids shouldn't feel so entitled

maybe if they knew the value of HARD WORK they wouldn't need a handout

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Posted

Is it bad I already knew what most of the responses and who would post what before I opened this thread.

Work hard your whole life.

Have a nest egg to leave your kids.

Forced to give 55% to the Feds.

and many here thinks thats ok...

A). Nobody pays 55%. The majority of those that have to pay (about 1%) end up paying an effective rate of about 5%.

B). It's a direct transfer of wealth. Name me a form of direct transfer of wealth that isn't taxed. Just cause someone wins the genetic lottery instead of the actual one doesn't mean they should be exempt.

C). It prevents the type of uncreative wealth hoarding you find in Central American economies, which helps everyone in the economy.

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Posted

i'm not a communist and this isn't fox news so you can't just avoid the discussion by calling people you disagree with "communist"

why does personal responsibility and hard work only matter if you're the child of poor or middle class families? why are some people simply entitled to the wealth obtained through the exploitation of the working class over generations, while food stamps and unemployment are literally hitler? what your parents made is no more "yours" than tax dollars, particularly by the time you've reached adulthood.

Yup, trying to change your family tree is awful. Simply awful.

P.S. no one in my family is rich, far from it. However, my grandparents made some extremely risky decisions to try to better our family.

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Posted

How is inheriting $20 million different from someone gifting me $20 million? Why is one tax exempt but the other is not?

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Posted

I wonder who here has family holdings and investments that will be taxed when inherited and who doesn't.

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Posted

maybe those kids shouldn't feel so entitled

maybe if they knew the value of HARD WORK they wouldn't need a handout

I worked my ass off on my parents farm growing up.

Probably harder work than most here have even dreamed of.

Can I not argue that I have already worked for that inheritance ?

Why is the fact many here that are arguing against this aren't planning on sailing the Bahama's with this, but hoping to better the life of their families and further secure their futures.

Wait, we are supposed to let the Government do that for us.

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Posted

How is inheriting $20 million different from someone gifting me $20 million? Why is one tax exempt but the other is not?

Hey, I know....make both non taxed.

Too easy.

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Posted

I wonder who here has family holdings and investments that will be taxed when inherited and who doesn't.

Depends on when my parents pass away.

But yes, I guess I should argue more for an exemption no one else gets due to the fact that I would benefit.

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Posted

Ahhh, I see it's a "fairness" thing now.

Gotcha.

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Posted

Republicans want to ensure the Kardashians have a tv show in 2070

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