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Discuss How much is enough? at the Politics & Religion within the Wrestling Talk Forums; Originally Posted by quinn14 Simple jealousy. I have absolutely no problem with people like Paris ...
  1. #109
    ODH
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    Default Re: How much is enough?

    Quote Originally Posted by quinn14 View Post
    Simple jealousy. I have absolutely no problem with people like Paris Hilton, because I am not jealous. But.....others are and will probably deny that they are, kinda like an addict who doesn't want to face reality. I AM NOT CALLING ANYONE ON THIS WEBSITE AN ADDICT OR JEALOUS. I am just saying that unless Paris Hilton has hurt you personally in any way, then you shouldn't have any reason to hate her except for jealousy.

    And to answer why other people are against the inheritence tax, let me give you a scenerio. An Ohio small farmer has hundreds of acres of land. He has worked his entire life to pay off the farmhouse, barn, combine and any other "big item" farming needs. Dude dies and leaves his kids with the farm. IRS comes in and estimates the farm worth 1 million dollars. Now the kids have to pay taxes on 1 million dollars before they can even inherit the farm. EVEN THOUGH IT WAS ALREADY PAID OFF!! Now, I know they would have to pay regular, yearly taxes, on the property. But that is not how they do it. They estimate the worth of a farm and include everything that goes with it whether it is paid off or not, including farm equiptment.

    So, kids have to sell the farm in order to pay the taxes on the farm. So much for the family business.
    Estate taxes have always had an exemption for first amount of money inherited. I don't know how much this exemption has been historically, but the latest proposal I heard was for $5 million, so if in your scenario the small Ohio farmer has 5X the amount of land ad spends his whole life apying it off and when he dies he passes $5 million of land onto his heir the pay $0 in estate taxes.

  2. #110
    Olympic Champ r.payton@att.net's Avatar
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    Default Re: How much is enough?

    I am simply calling for a leveling of the playing field . I believe you would be hard pressed to find anyone NOT in the top 5% of the wealthiest families whom would NOT be over -joyed at inheriting $450,000.00 just for turning 21 or 18 .
    Ugly, if you want your money to go to a certain person , give it to them when you turn a certain age-one time tax free gift .
    The over whelming majority of Americans will NEVER see 1 million dollars -a working man would have to earn 50k a year for 20 years to make 1 million . A person working for $5.15 per hour has one chance -the lottery-and your chances of being hit by a lightening bolt far out weigh your chances of winning the lottery. A person earning 10 K per year would work one century to see a million dollars.

  3. #111
    Olympic Champ quinn14's Avatar
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    Default Re: How much is enough?

    Quote Originally Posted by ODH View Post
    Estate taxes have always had an exemption for first amount of money inherited. I don't know how much this exemption has been historically, but the latest proposal I heard was for $5 million, so if in your scenario the small Ohio farmer has 5X the amount of land ad spends his whole life apying it off and when he dies he passes $5 million of land onto his heir the pay $0 in estate taxes.
    I thought I heard talk of that exemption expiring. That could have just been one proposal, but I could've sworn they talked about that when Steinbrenner died. They said something about it was a good thing he died when he did or his family wouldn't have gotten that exemption. Or at least that is what I thought they said.

  4. #112
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    Default Re: How much is enough?

    When Steinbrenner died there was no estate tax at all.
    I belive there has always been a healthy exemption so estate taxes only apply to the wealthy.

    Part of Bush's tax cuts was to gradually eliminate the estate tax giving higher exemption and lower rates until 2010 when it was comletely eliminated. Those were supposed to be a short term solution and in 2011 the tax breaks were scheduled to sunset and if no action was taken the estate taxes were supposed o return to the pre-Bush levels.
    As part of a compromise there was talks of having higher exemption and lower rates (up to $5 million exemption and a 15% is what I remember hearing). I don't know where the estate tax is today

  5. #113
    Olympic Champ quinn14's Avatar
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    Default Re: How much is enough?

    Yeah, after searching google I found that the congress did pass a provision to make it 5 million, but what I saw said anything over that would be taxed at 35%. This expires in 2013 and at that point it goes to 1 million and 55%. They just seem to keep kicking the can down the road. Almost any small farm is worth 1 million even though the farmers themselves bank very little. They need to just make it permanent or eliminate it altogether. Seems like double taxation to me.

  6. #114
    Olympic Champ quinn14's Avatar
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    Default Re: How much is enough?

    Quote Originally Posted by r.payton@att.net View Post
    I am simply calling for a leveling of the playing field . I believe you would be hard pressed to find anyone NOT in the top 5% of the wealthiest families whom would NOT be over -joyed at inheriting $450,000.00 just for turning 21 or 18 .
    I am a bit confused on how this levels any playing field. All it would do is take money away from a child and give it to the government. How would it help anyone else? How does someone like Paris Hilton inheriting billions of dollars hurt anyone else? If you are suggesting that they give that money directly to poor people, then that could help level a playing field for certain people, but not everyone. I don't think that is what you were suggesting, either.

    What would be the difference if Paris Hilton wastes her millions on purses, shoes and coke or our government wastes it on something else? I say, good for her and anyone else who has earned or inherited millions of dollars. Although Paris herself could spot Lindsey a few bucks to get back on her feet.

  7. #115
    Olympic Champ kr1963's Avatar
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    Default Re: How much is enough?

    We need to get rid of inheritance tax & MOST taxes actually.

  8. #116
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    Default Re: How much is enough?

    As a devout conservative Republican I will default to the level at which the greatest postwar president was comfortable at- Eisenhower's 92% or so.

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    Default Re: How much is enough?

    Quote Originally Posted by NYGriffin View Post
    As a devout conservative Republican I will default to the level at which the greatest postwar president was comfortable at- Eisenhower's 92% or so.
    How about no, to that. I hope that was tongue in cheek because that is not the conservative view by any stretch

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