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Started By
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re: Democrats plan on funding reparations by installing a Nationwide death-tax rate of 75% .
Posted on 6/13/21 at 12:17 pm to BarberitosDawg
Posted on 6/13/21 at 12:17 pm to BarberitosDawg
Why can’t you conservatives compromise a little is what they’ll argue. 40% will be the compromise point reached by Senator Cassidy.
Posted on 6/13/21 at 12:18 pm to Powerman
That’s what I thought, but you never can be sure when it comes to Democrats and taking other people’s money.
Posted on 6/13/21 at 12:19 pm to the808bass
quote:
Open your newspaper.
Nothing in there about installing a Nationwide death-tax rate of 75%. Seems like bullshite to me.
Posted on 6/13/21 at 12:21 pm to coachcrisp
quote:
The chance of getting that through are ZERO!
Depends
When talking about estate or inheritance taxes the minimum threshold amount is pretty important
quote:
What Is the Estate Tax Rate?
On the federal level, the portion of the estate that surpasses that $11.70 million cutoff will be taxed at a rate of 40%, as of 2021. On a state level, the tax rate varies by state, but 20% is the maximum rate for an inheritance that can be charged by any state.
The rate is already 40% and no taxes are paid on the first 11.7 million (federally that is)
Moving the threshold to the left would likely have a much bigger impact than moving the rate up
Your parents would have to be pretty well off for you to receive more than 11.7 million when they die
Posted on 6/13/21 at 12:21 pm to Eightballjacket
quote:
Why can’t you conservatives compromise a little is what they’ll argue. 40% will be the compromise point reached by Senator Cassidy.
40% is the current rate
Posted on 6/13/21 at 12:23 pm to longwayfromLA
quote:
Nothing in there about installing a Nationwide death-tax rate of 75%. Seems like bullshite to me.
Turn to the Sunday Review section. There’s also focusing solely on black unemployment and canceling black consumer debt.
Posted on 6/13/21 at 12:23 pm to BarberitosDawg
We've already had reparations. It was called Affirmative Action
Posted on 6/13/21 at 12:24 pm to GeauxTigerTM
quote:
..LBJ's War on Poverty has transferred roughly $25,000,000,000,000 since it was started.
It was never a war on poverty, it was a war for poverty. Human nature dictates that a person will never appreciate something given to them as much as something they earned. I don’t care much money you give a poor person, the chances of him taking that money and investing it versus blowing it on instant gratification astronomically small. Stimulus checks are just the latest example of people pissing away trillions. Now I’m by no means rich but I’m definitely not poor but I can tell you for a fact that every stimulus check I received during the pandemic was either invested or placed into one of my savings accounts. If you don’t think long term as in beyond your own death you’ll never create generational wealth
Posted on 6/13/21 at 12:24 pm to the808bass
quote:
canceling black consumer debt.
How is that even possible? Even if you "forgave the debt" you can't do it in perpetuity so you'd have to cancel all of their consumer revolving debt accounts which would inhibit their ability to build and maintain credit.
This post was edited on 6/13/21 at 12:25 pm
Posted on 6/13/21 at 12:26 pm to the808bass
quote:
Turn to the Sunday Review section. There’s also focusing solely on black unemployment and canceling black consumer debt.
Obviously, I'm online only. Do you have a link or what?
Posted on 6/13/21 at 12:28 pm to Henry Jones Jr
quote:
No you won't.
Oh really? I've said before I'm close to frick you money. What difference would this make?
Posted on 6/13/21 at 12:29 pm to Powerman
quote:
40% is the current rate
Then the compromise rate will be 60%
Posted on 6/13/21 at 12:30 pm to BarberitosDawg
I wonder What’s going to happen to white millennials when they realize they’re going to have to move out of mom’s basement bc they will owe it to absolve themselves of the sin of being born
Posted on 6/13/21 at 12:33 pm to the808bass
quote:
canceling black consumer debt.
Just from a legal standpoint, I don’t see how this is even remotely possible. I would think you’d open yourself up to a multitude of class action lawsuits for starters simply by making things available to one consumer while purposely excluding other. It’d be like owning a steakhouse but only having chicken on the menu for black guests because you didn’t want to incur the costs of all the recooks on wanting a steak extra well and juicy but not burnt.
Posted on 6/13/21 at 12:35 pm to El Segundo Guy
Millennials and Gen Zers are retarded enough to tax away their own inheritance
Posted on 6/13/21 at 12:37 pm to Eightballjacket
quote:
Then the compromise rate will be 60%
As I said, the threshold is much more important than the rate
Posted on 6/13/21 at 12:37 pm to BarberitosDawg
I'm going to inherit 1,000 acres and a few houses. I'd donate to the Sons and Daughters of the Confederacy before this happens. If my kids don't get it, they definitely won't.
Posted on 6/13/21 at 12:38 pm to wutangfinancial
quote:
Millennials and Gen Zers are retarded enough to tax away their own inheritance
Not really
The threshold is too high for it to really impact many people
Posted on 6/13/21 at 12:39 pm to Powerman
quote:
Your parents would have to be pretty well off for you to receive more than 11.7 million when they die
There are a lot of land rich cash poor farmers around. They would have to sell a big chunk of the land to pay the taxes. Lot of farm families I know bought land in the 60’s for $400 acre. That land is now worth $12000 because of development. The capital gains on that would be a killer.
I was at the Biltmore estates several years ago and was talking to one of the owners. He told me if the tax law wasn’t changed that he would probably be the last generation to own the property. No telling what it would appraise for.
This post was edited on 6/13/21 at 12:42 pm
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