- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Four Demorcat tax changes with grave consequences
Posted on 9/10/20 at 11:12 am to Rex Feral
Posted on 9/10/20 at 11:12 am to Rex Feral
quote:
Biden-Harris propose to tax the plans at both contribution and distribution, and to offer a refundable tax credit to make up for the double taxation. The idea is justified on the basis of fairness, since avoiding tax at contribution time is worth only 12% to most middle-income workers, but 37% for the highest-income workers.
Yes Joe, tell us more about how it’s a good idea to disincentivize saving money when not enough people save as it is.
I wonder if the “refundable tax credit” will make up for the FV loss caused by taxing contributions.
They will attack the contributions first, and when that gets passed and they need more, they will raid the actual balances. In the name of “fairness.” Oh, you started contributing to your 401k when you were 23 and now you’re 60 and have over a million? That’s not fair, this person who didn’t save anything and has 8 kids with no dads needs that because you’re an evil millionaire.
Get ready it’s coming.
1
Posted on 9/10/20 at 11:13 am to Rex Feral
Your post is too general... We need to balance the budget and reduce national debt. Republicans who like to call themselves Conservatives get revealed when the these topics come up.
IN GENERAL ...
#1 depends on the level. As long as small businesses don't get killed by the law, I am fine with Estate tax in general. We need revenue and I have no problem taking some from wealth that has been passed down for generations with the new generations doing little for society - living off their ancestors. Yes, DEMs usually way over do it.
#2 see 1 above.
#3 That concerns me IF it affects Upper Middle Income levels and below. In short, the real Middle Class should not suffer.
#4 See 1, 2 and 3 above.
I'd be fine with an increase in the corporate tax rate to 25% IF and ONLY IF, it was part of a package that cuts spending. That would NOT happen under a DEm administration (see Barry O'bama) and now appears to be unlikely under a GOP admin either. I'd vote for any candidate who agrees with what I just posted. Spending is insanely out of control.
---
"1. Potential reduction in the estate tax exemption
2. A potential reduction in the gift tax exemption and potential elimination of annual exclusion gifts
3. A repeal of step-up in basis
4. An increase in long-term capital gains tax"
IN GENERAL ...
#1 depends on the level. As long as small businesses don't get killed by the law, I am fine with Estate tax in general. We need revenue and I have no problem taking some from wealth that has been passed down for generations with the new generations doing little for society - living off their ancestors. Yes, DEMs usually way over do it.
#2 see 1 above.
#3 That concerns me IF it affects Upper Middle Income levels and below. In short, the real Middle Class should not suffer.
#4 See 1, 2 and 3 above.
I'd be fine with an increase in the corporate tax rate to 25% IF and ONLY IF, it was part of a package that cuts spending. That would NOT happen under a DEm administration (see Barry O'bama) and now appears to be unlikely under a GOP admin either. I'd vote for any candidate who agrees with what I just posted. Spending is insanely out of control.
---
"1. Potential reduction in the estate tax exemption
2. A potential reduction in the gift tax exemption and potential elimination of annual exclusion gifts
3. A repeal of step-up in basis
4. An increase in long-term capital gains tax"
This post was edited on 9/10/20 at 11:16 am
Posted on 9/10/20 at 11:20 am to RebelExpress38
I’ll have my 401k in a brokeragelink account and if it happens, I will make some hellacious bets rather than investments.
If they hit - great - if I lose, screw it - not paying the taxes.
If they hit - great - if I lose, screw it - not paying the taxes.
Posted on 9/10/20 at 11:34 am to TheGuitarMan1
quote:
1 depends on the level. As long as small businesses don't get killed by the law, I am fine with Estate tax in general. We need revenue and I have no problem taking some from wealth that has been passed down for generations with the new generations doing little for society - living off their ancestors. Yes, DEMs usually way over do it.
Lol. Government takes in more than enough, we don’t need to tax parents leaving businesses or money to kids. We need to raise social security retirement ages that haven’t been touched in generations even though the life expectancy has increased, and limit qualifications for Medicaid. Until we do that we are spraying a squirt gun at a forest fire talking about estate taxes
Posted on 9/10/20 at 11:39 am to Rex Feral
Elimination of 1031 exchanges is going to KILL the rental and commercial real estate market.
Then when landlords jack up rates to the point of being nigh unaffordable, it will be the fault of the "rich guy."
Then when landlords jack up rates to the point of being nigh unaffordable, it will be the fault of the "rich guy."
Posted on 9/10/20 at 11:41 am to Rex Feral
quote:
1. Potential reduction in the estate tax exemption
2. A potential reduction in the gift tax exemption and potential elimination of annual exclusion gifts
3. A repeal of step-up in basis
4. An increase in long-term capital gains tax
Add to this list removing 1031 exchanges and they're trying their best to wreck the economy.
Where the Right goes full-on Retard is it doesn't realize that the above argument is being made on behalf of the assholes funding all the bullshite in America today. They have you convinced you're part of the "haves" when you don't realize in fact, you're closer to the lazy af assholes on government dole than you are to the ultra-wealthy you protect.
We have many tax experts in this thread it seems, so how about someone do a rough estimate on the amount of federal taxes Jeff Bezos has paid on his largest in history fortune.
Posted on 9/10/20 at 11:42 am to David_DJS
quote:
David_DJS
Oh ffs dude, not this shite again. I already explained it once.
Posted on 9/10/20 at 11:44 am to Landmass
quote:
They already print what they want to use
Complete misunderstanding of Treasury auctions but I agree with the premise. Congress has taken the "deficits don't matter" approach because they have academic economists in their ears.
Posted on 9/10/20 at 11:45 am to BayBengal9
quote:
Oh ffs dude, not this shite again. I already explained it once.
No you didn't. So just enlighten us on how much in taxes Bezos has paid on his (and ex's) $250 billion fortune.
Posted on 9/10/20 at 11:45 am to David_DJS
quote:
We have many tax experts in this thread it seems, so how about someone do a rough estimate on the amount of federal taxes Jeff Bezos has paid on his largest in history fortune.
Please, God. Make it stop
Posted on 9/10/20 at 11:46 am to wutangfinancial
quote:
Please, God. Make it stop
This sounds like a liberal's argument. Deflection. Projection.
How about an answer?
Posted on 9/10/20 at 11:55 am to Rex Feral
quote:
A repeal of step-up in basis
This is a huge mistake
This post was edited on 9/10/20 at 12:02 pm
Posted on 9/10/20 at 11:57 am to David_DJS
Are you seriously dumb enough to ask why his unrealized marked to market wealth hasn't been taxed?
You materialistic, greedy, selfish fricks need to be taken out to pasture. Bezos will have paid more in taxes, created more wealth and provided the globe with more benefits than God himself by the time he's dead.
You materialistic, greedy, selfish fricks need to be taken out to pasture. Bezos will have paid more in taxes, created more wealth and provided the globe with more benefits than God himself by the time he's dead.
This post was edited on 9/10/20 at 12:00 pm
Posted on 9/10/20 at 11:59 am to Rex Feral
Don't forget the "tax" for not having health insurance.
Biden says he's bringing it back.
Biden says he's bringing it back.
Posted on 9/10/20 at 12:00 pm to wutangfinancial
quote:
Are you seriously dumb enough to ask why his unrealized marked to market wealth hasn't been taxed?
Are you seriously dumb enough not to understand a simple f'n question:
Rough out how much federal taxes Bezos has paid on his $250 billion fortune.
Seriously, why is this question hard to understand?
quote:
You materialistic, greedy, selfish fricks need to be taken out to pasture. Bezos will have paid more in taxes, created more wealth and provided the globe with more benefits than God himself by the time he's dead.
You know nothing about me. You have no idea what I have, what's important to me, or how generous I am.
What does it tell you that your argument assumes things you cannot possibly know?
So again, rough out the federal taxes paid by Bezos on his $250 billion fortune.
This post was edited on 9/10/20 at 12:03 pm
Posted on 9/10/20 at 12:03 pm to David_DJS
How in TF would anybody have that information but his CPA? Go cry about somebody elses taxes on the Soccer Board.
You can't tax unrealized equity returns. Why is a number on a screen making you so emotionally distraught?
You can't tax unrealized equity returns. Why is a number on a screen making you so emotionally distraught?
This post was edited on 9/10/20 at 12:06 pm
Posted on 9/10/20 at 12:04 pm to 93and99
quote:
Don't forget the "tax" for not having health insurance.
Biden says he's bringing it back.
If Biden gets elected and he dies this, the whining will be nonstop, just like before
Posted on 9/10/20 at 12:06 pm to Rex Feral
I’m actually on the fence about 1031 repeal. Would go a long way to disincentivize house flipping idiots
Posted on 9/10/20 at 12:07 pm to wutangfinancial
quote:
How in TF would anybody have that information but his CPA? Go cry about somebody elses taxes on the Soccer Board.
Are you seriously telling me that while you're in this thread lecturing everybody on tax policy, you do not have the ability to rough out what Bezos has paid in federal taxes on his $250 billion fortune?
I didn't say give it to us to the penny. Or dollar. We don't even need it to the billion dollar. But if you know half of what you project you do, you could come up with an informed rough estimate.
So let's see it. I have faith in you.
Posted on 9/10/20 at 12:09 pm to wutangfinancial
quote:
You can't tax unrealized equity returns. Why is a number on a screen making you so emotionally distraught?
I'm not the one fearful of putting a number up, and I'm not even the one casting himself as a tax authority.
I asked a simple question of a person that argues in this thread like he knows a lot about taxation. So again -
What is your rough estimate of the federal taxes paid by Bezos on his $250 billion fortune?
Page 2 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News