Hillary estate tax boost is brilliant......right before the debate

http://www.msn.com/en-us/money/markets/clinton-proposes-65-percent-tax-on-billionaire-estates/ar-BBwvul0?li=BBnb7Kz

I think the raising of the estate tax on the folks who have an estate of 500 million from 45% to 65%, and a marital deduction up to a billion. It will raise over 250 billion over the next decade. What perfect timing. Trump wants to eliminate the estate tax. Brilliant. Silver spoon looks like a repeat of the Romney strategy........people do not like silver spoons in America. I am a Republican my entire life, and I want a level playing field with ingenuity and hard work building our economy.....not silver spooned punks spending their inherited money on safaris in Africa.

I think old Bernie lit the fuse......and HIllary is going to drop the bomb. Finally, we are going to balance budgets and stop the thief in the night who stole 17 trillion from America.....the wall street, banksters and oligarcy silver spoons........finally sane tax policy.

One day they'll come for what you've built. The cool thing after the economy is ruined is the govt takes it for taxes. Not a bad gig if you can find the right mark.

When I am dead my strong children will succeed in America. I never took a dime of inheritance, and waived interest in my mother's estate so the kids could get a modest amount.......they could care less with the money which will not change their life style. The government has not confiscated a thing from me. Quite the opposite. I went to great public schools. I drive on great roads. I used to fly out of great airports. I get clean water. I safely dispose of waste safely. I have the freedom to worship. I have the freedom to speak freely. I love this country and all that good government has assisted me in building a career and business. I pay taxes. real estate, income tax, and user fees. I have never felt I paid too much in the form of taxes. Never not once. I certainly like balanced budgets as a lifetime Republican, and where you see confiscation, I simply see a return to sane rates of the 1980s when America still worked before the failed trickle down fraud, and tax cuts for the wealthy as we militarized and built deficits. It is time for sanity. America gets silver spoons. Americans like our baseball players and citizens working hard and finding success in hitting that triple, they do not feel comfortable with the umpire saying......hey we used to have fair rules of taxation, but heck......go to third base. It is a winning strategy.

One day they'll come for what you've built.

My wife and I have discussed deeding our property over to the state of Illinois so this special natural area of the islands will be retained by the people of Illinois. It will be a remainder interest and we will give life estates to our children and grandchildren. When our last grandchild dies, the state of Illinois will take over the property. I have invested from my retirement funds large amounts of my retirement security to create a beautiful natural accessible area. I will be happy in the knowledge in eighty years the State of Illinois letting the public have access. We are considering doing the same thing in Florida. I doubt our children will get a dime from our estate. There will be a small amount for the grandkids. I was an eagle scout and have loved nature my whole life.........I cannot take it with me........and I do not want silver spooned weak descendants like the Trump kids......I want strong seaoats with deep roots in the work ethic.

2seaoat wrote:One day they'll come for what you've built.

My wife and I have discussed deeding our property over to the state of Illinois so this special natural area of the islands will be retained by the people of Illinois.   It will be a remainder interest and we will give life estates to our children and grandchildren.   When our last grandchild dies, the state of Illinois will take over the property.  

[...]

SO TYPICAL of a progressive. They ALWAYS think they know best what OTHER people should or must do.

Not only does 2seaoat plan to dictate to his children what they can do with THEIR property but 2seaoat is dictating to his GRANDCHILDREN what they can do with THEIR property.

What happens if your grandchildren's children grow up and enjoy that property all their lives until mom and pop kick off. They get their butts kicked off because some old dead guy, 60 years ago didn't care about you.

Yep, don't let people make their own decisions.

What happens if you have catastrophic flooding as they recently had in Louisana and the river swallows the islands?

I may be wrong but I believe you've said that you've spent tens of thousands of dollars rebuilding after floods. What if the kids don't want that burden?

I may be wrong but I believe you've said that you've spent tens of thousands of dollars rebuilding after floods. What if the kids don't want that burden?

I have lost over a quarter million dollars in floods creating this beautiful island park. Most of those loses were boats, docks, construction equipment, bathrooms, roads, and bridges. I have reinforced my roads and causeways, and I have removed almost anything of value from the islands as my current home is outside the floodplain. My kids, and my grandkids enjoy spending a weekend on the islands, and our small 150 year old home will be theirs, and I will not be granting a remainder interest in the same, just the 45 acres of natural beauty.

I have three choices for the remainder interest. The local county, the state of Illinois, and nature conservancy. I just want to preserve the natural area because it is really unique, and my wife after I pass will make the final decision, but we are both in agreement at this time. My father died when I was 10 and my social security went to my mother for the mortgage payment, as I worked and paid for every dime of my undergraduate and graduate degrees.......I never once felt deprived or thinking someone was going to give me an inheritance because I did not earn it. When my grandmother passed, all the cousins, aunts and uncles, my brother and mother went to collect all the valuables and divide the same, and I remember the phone call of what I wanted......I said nothing. I had written her regularly, visited more than any person in the family, and had gotten a treasure trove of information about a six foot little girl growing up in Opelika who lost her father in the 1918 flu wildfire, and she told me how she took care of her siblings and helped......her father was a very successful businessman, but her mother had no knowledge of the business and the family struggled to get all the kids through school. Silver spoons did not make America great......immigrants and hard working citizens built America. Now those hardworking people face 17 trillion debt caused by wars and tax cuts for the wealthy.....my moral choices are clear. As an Eagle scout.....I actually bought into the values of scouting. It really is not more complex, and my work on these islands have helped keep me alive a bit longer......I call it a win win.

I will post some photos in the morning, I have discovered Rosebud.

But what you've acquired you've earned and paid taxes on the monies used to buy the land at least a few times. Paid all the required fees... etc. Paid the taxes on the purchase. Whatever that profit was to previous owner is taxed. Then you paid property taxes for the privilege of "ownership" so govt doesn't confiscate it.

But is that "fair" enough? Lol... nooo. There will be more fees and taxes to simply keep it in the family.

Nice system adolf.

The estate tax has been fully ruled on by the Supreme Court and it always has been a legitimate tax. Your argument that taxes are wrong to run a government are sophomoric and illogical. It is obscene Since Reagan that the exclusion has gone from $125,000 to five million in less than forty years. I just want the rates returned to 1980s level when this nation's debt was not off the chart. This simple incremental raise in the estate tax could over a ten year period increase the Federal Transportation budget by 25% which could go to building our infrastructure and create private sector jobs and increase revenues.

Lol... debt matters in this leftist talkingpoint. The reality is that there is no ownership in this fascist State.

There's a pretence of ownership.

I guess we do not live in a fascist state because I still convey private property by deed and your sophistry is simply idiotic. An increase of 25% of the Federal transportation budget making airports safer and bridges updated means that the heirs and legatees of a billionaire will pay 20% more tax when they pass over 500 million of an estate to another. This means that on the next million over 500 million the estate will pay 200 thousand on each additional million.......quit fooling yourself......nobody you know will be impacted by this tax, yet the roads your family travels on every day will be made more safe and will increase America's productivity.

Is that what passes as equal protection today? Social justice is profiling and targeting.

Is that what passes as equal protection today? Social justice is profiling and targeting.

Wow, what incredible ignorance of the case law and facts of American Revenue sourcing. A progressive tax rate meets all elements of the equal protection clause, and part of any proposed tax is to set revenue targets for proper budget goals. Your sophistry is not even logical and does not make a lick of sense other than simple being more nihilist dribble.

"fair" would be a flat percentage of income and consumption. The sad part is that you would actually collect more since loopholes and tax manipulations are ended... not to mention the reduction in size and scope of the irs. There can be reasonable and equal tax to run govt... it doesn't require redistribution and social agenda.

The courts have consistently disagreed with you for over a 100 years, and those learned positions which frame what is fair and what is not. Your flat tax is a policy choice, not a choice between fair and unfair. You for whatever reason believe that rich people should not pay taxes under a progressive tax system and you think that poor and middle class citizens should bear more of the tax burden. If the Supreme Court says both policy choices meet the equal protection clause, then the only argument is which method meets revenue goals. Dropping rates on the wealthy has created huge debt in the last forty years. I choose balanced budgets.

That you celebrate the creation and evolution of the progressive tax rate is telling. 1913 was a great year for our country... eh comrade? Did you know that fdr once proposed a 99.5% tax on income over 100k? That didn't pass... so he used an executive order to confiscate 100% of income over 25k?

When will enlightenment cede complete control over to central govt? Oh the horror of marxist anguish.

Floridatexan wrote:

PkrBum wrote:That you celebrate the creation and evolution of the progressive tax rate is telling. 1913 was a great year for our country... eh comrade? Did you know that fdr once proposed a 99.5% tax on income over 100k? That didn't pass... so he used an executive order to confiscate 100% of income over 25k?

When will enlightenment cede complete control over to central govt? Oh the horror of marxist anguish.

Ya... cause history is craaaaaaaaazy in loony lefty land.

Not having a flat tax makes a person a looney. I remember PK's flat tax arguments on the PNJ.......I forget who he used to argue with, or what his original screen name was, but gosh......what sane economist is talking about a flat tax? Nihilism.