Lay Offs

[PaulS]

Still sounds like hate to me, no matter how it was written. I love my country and would not want anyone leaving just b/c they have different politics. Apparently, ronnie and john Wall feel differently.

[RIJIMMY]

Originally Posted by PaulS

Still sounds like hate to me, no matter how it was written. I love my country and would not want anyone leaving just b/c they have different politics. Apparently, ronnie and john Wall feel differently.

so lets look at this.

PaulS starts his own company. He is sucessful has annual revenues of 1-2M, he employs 10 people. has 2 wonderful kids, buys a big house, buys a lake house, buys a few boats. he works hard and rewards himself. He pays his share of taxes his whole life.
PaulS at 70 yrs old passes away, shortly after his beautiful wife also passes.
His children are 35 and 40 yrs old, they are on their own, own careers, own families. They inherit their parents estate valued at 5 million.
In comes the US government - 55% or 2,750,000 is ours - you have 9 months to pay us. Knock, knock - its the state - you owe us 10% estate tax - you have 9 months to pay.
Assets are sold, the lake house, the boats, the cars, etc. legal fees to dispose of the estate stack up. Pauls childnre watch their parents lives be sold off in chunks, everythign they dreamed sold to pay Uncle Sam. - In the end the grand life savings of PaulS equates to about 1.5M to his family, his grandkids, his relatives, charities. The government seized all his other assets.
What a great country!
Thats not politics Paul, this is reality. That is robbery. I wont stand for it.

[PaulS]

Nice story but trusts and life insur. would have taken care of much of the tax issue. Highlights the issue of estate planning (of which I'm certainly not an expert).

However, while you say you won't stand for it, your not leaving the country or I can't recall and doubt you advocating ceding from it. You might complain and try to do something about it - which is your right and prob. your responsibility in a democracy.

[RIJIMMY]

Originally Posted by PaulS

Nice story but trusts and life insur. would have taken care of much of the tax issue. Highlights the issue of estate planning (of which I'm certainly not an expert).

However, while you say you won't stand for it, your not leaving the country or I can't recall and doubt you advocating ceding from it. You might complain and try to do something about it - which is your right and prob. your responsibility in a democracy.

BullShat - I know this stuff - estate planning wont protect against that. Dont you think the government would take care of that?

My responsibility Paul? Im outnumbered! I CANT change that! thats what this thread is all about!
Did you notice you didnt even argue whether its right or wrong? You dont care if the governent ROBS people of their life.

[PaulS]

Originally Posted by RIJIMMY

BullShat - I know this stuff - estate planning wont protect against that. Dont you think the government would take care of that?

My responsibility Paul? Im outnumbered! I CANT change that! thats what this thread is all about!
Did you notice you didnt even argue whether its right or wrong? You dont care if the governent ROBS people of their life.

Estate planning could have certainly taken care of much of the burden. That is what life insur. is for.

I don't think it is robbery - you do. We live in a democracy. If the majority don't think it is robbery, it will stay the way.

[RIJIMMY]

Originally Posted by PaulS

Estate planning could have certainly taken care of much of the burden. That is what life insur. is for.

I don't think it is robbery - you do. We live in a democracy. If the majority don't think it is robbery, it will stay the way.

life insurance? So PaulS in that story should have had life insurance to offset the government stealing his $? WTF!

an oh, by the way -


Section 2042 of the Internal Revenue Code states that the value of life insurance proceeds insuring your life are included in your gross estate if the proceeds are payable: (1) to your estate, either directly or indirectly; or (2) to named beneficiaries, if you possessed any incidents of ownership (we'll discuss this more below) in the policy at the time of your death

You dont think its robbery the government seizes 55% of your assets when you die? Wow! What an incentive to work hard and provide for your family.

the majority paul dont give a F becuase they wont make that mych money and could care less if the f the rich. thats EXACLTY whats happening now with your O buddy - you know, the millionaires who make 250K a year! THOSE PEOPLE DO NOT HAVE ENOUGH VOTES TO GET OUT OF THE TAX BURDEN THE REST OF THE COUNRTY IMPOSES ON THEM!!

if the majority are not being robbed, why should they care?

[The Dad Fisherman]

Originally Posted by RIJIMMY

You dont think its robbery the government seizes 55% of your assets when you die?

Oh, Its Robbery....55% is rediculous

[PaulS]

Originally Posted by RIJIMMY

life insurance? So PaulS in that story should have had life insurance to offset the government stealing his $? WTF!Yes, that is good estate planning. As I said, I'm not an estate planner so I can't give you specifics but see below.

an oh, by the way -


Section 2042 of the Internal Revenue Code states that the value of life insurance proceeds insuring your life are included in your gross estate if the proceeds are payable: (1) to your estate, either directly or indirectly; or (2) to named beneficiaries, if you possessed any incidents of ownership (we'll discuss this more below) in the policy at the time of your death

You dont think its robbery the government seizes 55% of your assets when you die? Wow! What an incentive to work hard and provide for your family.

the majority paul dont give a F becuase they wont make that mych money and could care less if the f the rich. thats EXACLTY whats happening now with your O buddy - you know, the millionaires who make 250K a year! THOSE PEOPLE DO NOT HAVE ENOUGH VOTES TO GET OUT OF THE TAX BURDEN THE REST OF THE COUNRTY IMPOSES ON THEM!!

if the majority are not being robbed, why should they care?

I think the exemption this year is $5,000,000 so I think there is $0 tax in your example above. Also, the death benefit is not taxable to the beneficiary. The ownership that they are talking about in your example above is the ownership of the policy. So if the estate owns the policy, the estate will have to pay tax on the cash value of the policy. If the beneficiary (in this case the 2 kids) owns the policy, they don't have to pay taxes on the cash value when Paul dies. And if I'm correct on the exemption, the ins. will only increase the benefits to the heirs.

[scottw]

Originally Posted by PaulS

Estate planning could have certainly taken care of much of the burden. That is what life insur. is for.

I don't think it is robbery - you do. We live in a democracy. If the majority don't think it is robbery, it will stay the way.

if it doesn't belong to you and you take it or you empower someone else to take it against the will of the owner...it's robbery...you just have ways to justify it in your head and you don't care because it doesn't belong to you

[PaulS]

Originally Posted by scottw

if it doesn't belong to you and you take it or you empower someone else to take it against the will of the owner...it's robbery...you just have ways to justify it in your head and you don't care because it doesn't belong to you

Why wouldn't I care - we're talking about taxes. I have to pay taxes like everyone else.

[Jim in CT]

Originally Posted by PaulS

We live in a democracy. If the majority don't think it is robbery, it will stay the way.

Just because the majority doesn't consider it robbery, doesn't mean it's not robbery. A majority doesn't, in and of itself, imply righteousness. I point you to days when the majority thought slavery was OK, or when a majority thought the Holocaust was OK.

If you take a poll of 6 robbers and 4 victims, and ask them if robbery should be OK, what result would you expectf?

Obama, and the media, have successfully fooled a majprity of voters that our economic problems are, in some meaningful way, due to the fcat that wealthy don't "pay their fair share".

Fine. I hope the GOP rolls over and lets this Mao-ist run wild with his lefty agenda. That way, when the inevitable collapse happens, no one will be able to claim that it wasn't caused by liberalism.

Pure, unchecked liberalism has worked so well in CT, why wouldn't we want to extrapolate that mess to the whole country? CT's economy is an absolute, unmitigated disaster. And it doesn't get any more purely liberal than here in my state, has been that way for a generation. No one sees a connection between those 2 things. Unbelievable.

I heard a woman on the radio this week. She was a liberal. She used to live in New York, but she couldn't afford the taxes and cost of living, so she moved to Florida, which has lower taxes and a much lower cost of living. She doesn't like how conservative Florida is, so she suppports liberalism in Florida. Liberalism forced her to move across the country, and now she wants to infest Florida with the same disease, and she sees nothing ironic or stupid with that.

You can't cure stupid.

[likwid]

Originally Posted by Jim in CT

I heard a woman on the radio this week. She was a liberal. She used to live in New York, but she couldn't afford the taxes and cost of living, so she moved to Florida, which has lower taxes and a much lower cost of living. She doesn't like how conservative Florida is, so she suppports liberalism in Florida. Liberalism forced her to move across the country, and now she wants to infest Florida with the same disease, and she sees nothing ironic or stupid with that.

You can't cure stupid.

Where in NY did she live? What did she do for a job? Did she move to Florida because of a job offer? Family?

Your stories are about as valid as the National Inquirer.

[PaulS]

Originally Posted by Jim in CT

You can't cure stupid.

Racial slurs yelled at Ole Miss Obama protest - CBS News

[scottw]

Originally Posted by PaulS

I don't think it is robbery - you do. We live in a democracy. If the majority don't think it is robbery, it will stay the way.

actually we don't...we don't decide tax policy and most other issues by majority vote, the "majority" decides the election of representatives and local issues...we elect representatives who hash those other things out, supposedly in our interest...maybe you missed that part of civics class....if we decided tax policy etc. on a vote by vote basis and everyone actually voted and Americans actually paid their taxes directly rather than having them deducted or disguised in fees and the like I imagine things would be quite different...

you support taxes specifically targeting the incomes and property of others in order to increase funding for a government that is not only bloated and inefficient and operating well beyond what it was ever intended to but cannot seem to pass a budget and apparently has no intention of curbing growth and scope of it's already indebted programs....you don't care becasue in this case it likely doesn't affect you...it won't solve any problems but apparently makes you feel better


as for the majority deciding what is robbery and what isn't and majority rule....can we look at these exit polls:

National exit polls conducted on election day found 26 percent of voters wanted the law(Obamacare) expanded, 18 percent want it left as-is, 27 percent wanted to repeal some of the law and 25 percent wanted to repeal all of it.