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What is your take on the Federal Estate Tax?
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What is your take on the Federal Estate Tax?


Feb 1, 2019, 10:37 AM

I see it as double taxation and many time puts an undue burden on the folks that inherit the estate, forcing them to sell real estate or businesses (granted with good estate planning this can be avoided to some degree)

But Bernie wants up to 77% of some folks money.

https://www.washingtonpost.com/us-policy/2019/01/31/bernie-sanders-propose-dramatic-expansion-estate-tax-richest-americans-including-percent-rate-billionaires/?noredirect=on&utm_term=.f73bf237c791

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https://as1.ftcdn.net/v2/jpg/00/81/16/28/1000_F_81162810_8TlZDomtVuVGlyqWL2I4HA7Wlqw7cr5a.jpg


I know it used to be worse. My grandfather owned some land


Feb 1, 2019, 10:46 AM

and back in the 70's when the threshold for the 50% (or whatever) estate tax was much lower than today, he took his block of land and split it into two equal tracts. He then changed his will to leave half to my dad and half to my grandmother. At the time, the value of the entire chunk of land was high enough that if he didn't split it, and my grandmother got all of it, she'd have to sell it to pay the estate taxes. When my grandfather died, half went to dad, half to my grandmother, and there was no big tax burden. Had my grandfather not done that, in 1978 our family would have been forced to sell the land.

I have 3 sons right now and it's still technically in two tracts at the tax office. If they lower the threshold back to where it was, I'll change my will. As it stands right now, I'm fine getting it all without a huge tax.

And this is how you defeat Bernie, at least with land. You can split other assets this way as well if needed.

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It is absolutely indefensible.


Feb 1, 2019, 10:47 AM

The government already spends and takes exponentially too much. The amount of influence taxpayers have on how it's spent is extremely low. We are taxed on the same dollar several times already now with layers of income and consumer taxes.

Bernie is essentially trying to outlaw being a billionaire.

The estate tax is just the most grotesque and far reaching crime in a pile of crimes.

Bernie seems like a nice dude, but he is a bigger threat to our way of life than anything else. He wants to radically aggrandize the power, size and scope of our federal government when it already massively too big and mathematically unsustainable.

Bernie is an emotional, class warrior. His ideology is incompatible with the USA.

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You don't seem to understand the Estate Tax.


Feb 1, 2019, 3:59 PM

Nothing you said has anything to do with what it does.

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I think you just missed the point. I wasn't trying


Feb 2, 2019, 12:27 PM

to define or analyze the estate tax. I assume everyone knows what it is. I was talking about the context around which the estate tax is being proposed. The context around it is what makes it so ridiculous. If it was the only tax then the argument would be different. It's another layer of taxation after several other layers.

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Trusts***


Feb 1, 2019, 10:49 AM



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its immoral***


Feb 1, 2019, 11:13 AM



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But they're POLITICIANS.......they will make your life


Feb 1, 2019, 12:23 PM

better. I mean, if you elect the other guy, your life will be miserable. Elect Bernie and life will be wonderful.

Such conceit.

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Re: What is your take on the Federal Estate Tax?


Feb 1, 2019, 12:53 PM

I am all for it, Billionaires sitting on their nest eggs and not spending/ investing it requires us to keep printing more currency. If they do not want to invest it, the federal government will do it for them. But if you prefer a a 1% of our population sitting on 40% of the county's capital, then by all means continue to support their cause for them.

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Why not just come out and admit you're a communist?


Feb 1, 2019, 1:01 PM

"If they do not want to invest it, the federal government will do it for them."

It is scary so many people like yourself have this kind of mindset, and is no doubt why we will end up like Venezuela eventually.

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Re: Why not just come out and admit you're a communist?


Feb 1, 2019, 1:03 PM

funny how those socialist counties in Europe we have much much more in common with did not end up like Venezuela, but then again I doubt you know even 1/5th of what is going on down there.

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They have been rioting in France for what, two months now,


Feb 1, 2019, 1:12 PM

because of high taxes. It ain't all sunshine and roses these days in your EUtopia across the pond.

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Do you really believe they do not have it invested?


Feb 1, 2019, 2:15 PM [ in reply to Re: What is your take on the Federal Estate Tax? ]

Where do you think it is, under their bed or, prolly like you, buried in a Mason jar in their back yard?

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https://as1.ftcdn.net/v2/jpg/00/81/16/28/1000_F_81162810_8TlZDomtVuVGlyqWL2I4HA7Wlqw7cr5a.jpg


your ignorance is stunning at times***


Feb 1, 2019, 4:12 PM [ in reply to Re: What is your take on the Federal Estate Tax? ]



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How will this affect me when I win the lottery?***


Feb 1, 2019, 12:58 PM



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I like your funny words magic man


Having lived through the application of the Estate Tax,


Feb 1, 2019, 1:31 PM

most people have no clue how it works.

Could you explain how the Estate Tax is double taxation.

I'll hang up and listen.

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Re: Having lived through the application of the Estate Tax,


Feb 1, 2019, 4:25 PM

Say your father earned a good some of money during his working years. Of course he paid taxes on that earnings each year. Then he passes away and you get his wealth. But before you get it the FED gets their hands on it then you get what is left over. Double taxation plain and simple.
The laws have changed over the years. They are no much more favorable to the people who benefit from a will.

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Yeah. I don't have to imagine the scenario.


Feb 1, 2019, 6:31 PM

I'm quite familiar with how it works. You don't seem to understand it.

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The money is taxed twice. The person only once.***


Feb 4, 2019, 2:11 PM



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Re: What is your take on the Federal Estate Tax?


Feb 1, 2019, 3:51 PM

When we stop upward redistribution of wealth, I'll care about their tax rates. Until then, tax them to death.

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what exactly is the "upward redistribution of wealth"?


Feb 4, 2019, 1:53 PM

Inheritance?

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