Just because you worked hard all of your life doesn't mean it's not mine

[AllosaursRus]

There's their problem right there. Equality is measured in dollars. Greedy and superficial. Typical.

Cindie

Just imagine how they feel about the old expression, "born with a silver spoon"?

Must give 'em nightmares! At least I hope it does! snicker

[ColonialMarine0431]

Convoluted logic. DUmmies feel that the offspring of the wealthy don't deserve the acquired wealth of their parents, but "society" does?

That's so ****ed.

[VivisMom]

Trusts are not just for the rich and famous and go a long way to speeding up the process of settling an estate.  Wills, trusts, and insurance are things which are should be done right. 

Oh, yeah...my grandmother had one, and my dad set one up after my mom died. Everything in his stock portfolio goes to my kids in a trust, and I get the house and other material goods. I'm actually glad he did it that way, it's less for me to worry about when he does eventually go.

[Rebel]

Just imagine how they feel about the old expression, "born with a silver spoon"?

Must give 'em nightmares! At least I hope it does! snicker

Lazy DUmmies wouldn't like my silver spoon.

Dad: "See this silver spoon? It's used for eating. Want to use it for eating? That 3 acres isn't gonna cut itself. When you're done there, get in the house and do the laundry. Food and your silver spoon will be waiting for you."

[DumbAss Tanker]

Problem with that is, the land ain't worth much if ya don't have the "assets" to take advantage of it! My tractor and all my tools are considered in the inheritance tax! So is the livestock!

They will be a big lump of melted steel and cremated bone before one of these asshats gets a cut!

"Inheritance tax" is state, not Federal.  There isn't any Federal inheritance tax.  "Estate tax" (Which is Federal) is a whole different thing than "Inheritiance tax."

[MrsSmith]

DUmmy logic:

Jefferson, "The separation of church and state..."  Jefferson is a certified genius!!!

Jefferson, "To take from one because it is thought that his own industry and that of his father’s has acquired too much, in order to spare to others, who, or whose fathers, have not exercised equal industry and skill, is to violate arbitrarily the first principle of association—the guarantee to every one of a free exercise of his industry and the fruits acquired by it."  Jefferson is an idiot, right-wing teabagger!!!!!11!11!!11

[AllosaursRus]

"Inheritance tax" is state, not Federal.  There isn't any Federal inheritance tax.  "Estate tax" (Which is Federal) is a whole different thing than "Inheritiance tax."

Net Value of Property

Once all the deductions have been taken from the gross estate, the remaining balance is considered the net value of the property - or the inheritance tax basis.  To calculate whether nor not any inheritance tax is due; the net value of the property must be subtracted from the inheritance tax credits appearing in the tables below.  If the net estate is larger than the tax exclusion, then the federal income taxes due can be found on the standard tax brackets or tax rate tables published by the IRS.

What ever you say, Tank......

ETA:

Granted they may not call it an inheritance tax, but it sure as hell is what I call it! Me being of sound mind and body of course, unlike our gubmint!

[Evil_Conservative]

Oh, yeah...my grandmother had one, and my dad set one up after my mom died. Everything in his stock portfolio goes to my kids in a trust, and I get the house and other material goods. I'm actually glad he did it that way, it's less for me to worry about when he does eventually go.

My mom's parent's have set up a trust just recently.  They are not rich at all.  I'm pretty sure my dad's parent's have one that was set up years ago as well.  I believe they set it up the same time they did their will. 

[VivisMom]

My mom's parent's have set up a trust just recently.  They are not rich at all.  I'm pretty sure my dad's parent's have one that was set up years ago as well.  I believe they set it up the same time they did their will. 

It actually started with my grandparents, who were fairly well off. After my grandfather died, everything was put into a living trust for my grandmother-it actually ended up paying for her end of life care which would have bankrupted my dad and his siblings.

My dad is by no means wealthy, but he received a crapton of Exxon stock when his mother died-at one point the value of that stock was almost $1M. He is hoping that it will help us pay for our kids to go to college, or at least make it not as much of a financial burden on us. I have to say, I appreciate that!

[thundley4]

It actually started with my grandparents, who were fairly well off. After my grandfather died, everything was put into a living trust for my grandmother-it actually ended up paying for her end of life care which would have bankrupted my dad and his siblings.

My dad is by no means wealthy, but he received a crapton of Exxon stock when his mother died-at one point the value of that stock was almost $1M. He is hoping that it will help us pay for our kids to go to college, or at least make it not as much of a financial burden on us. I have to say, I appreciate that!

That is just not FAIR.  Your kids should have to suffer under the crushing debt of student loans just like every one else. [/DU mode] 

[true_blood]

So, let me pose a question to you DUmbasses, you grow up in the family home, on 5 acres of land. This is a home that was treasured by you and your siblings. You kids are only 20, 21, and 22 when your parents meet their tragic and untimely death. You ****in' morons think it's ok to come in and take the home, selling it off, and giving you 40% of the proceeds?
It's the SAME ****ING THING! Personal property is personal property. Without the right to it, this nation is no longer a Republic, but some f'n Communistic dictatorship that I'll fight to the death against. Wealth, cars, homes, hell, a f'n hairdryer is ALL personal property and once taxes are paid on it, you Communists can keep your grubby f'n hands off it.  

Bingo.

[ColonialMarine0431]

It's my family's money. We made it. It's ours. They passed it down to me, and I will pass it down  to my children .

[AllosaursRus]

It's my family's money. We made it. It's ours. They passed it down to me, and I will pass it down  to my children .

And they can pry it outa my cold dead hands right along with the damn gun they don't want me to have!

[dandi]

Remember when we used to fight Communists? Whatever happened to that concept? They still ask people wanting to immigrate if they're a Communist or have ever been associated with a Communist or a Communist Party. I saw this on "The Naturalized".

McCarthy tried to warn us. For that matter so did Nikita Krushchev, though his was more prediction than warning. Of course the commie fellow travelers in the media ridiculed the idea of a "Red Menace" until it became nothing more than the punchline to a joke. Ridiculed the same way Conservatism and Christianity are now by comedians, talk show hosts and the press across the country on a daily basis.

Now we're left dealing with the heirs of that ideology - the DUmmies and all of their ilk. It hasn't helped that the Republicans Party has been led by gutless and corrupt career pols more interested in popularity and political correctness than the state of the country. I can only hope this Congress has the fire in the belly to pay more than lip service to conservative ideals. We will soon see.

[VivisMom]

That is just not FAIR.  Your kids should have to suffer under the crushing debt of student loans just like every one else. [/DU mode] 

As it is, I will be paying off my own college loans until I die. Make you feel any better??? 

Seriously, I keep hoping my kids will either 1) want to go to an in-state university or 2) get a scholarship (or both!) so that their trust fund money can help them once they are out of school, rather than pay for it.

[AprilRazz]

RandomThoughts Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Wed Jan-05-11 01:11 PM
Response to Original message
2. Lots of arguments on that.
   
First off the people say they earned the money, that is the idea within the system of how you make money, and the concept you mention is an example of that.

However there children did not earn it, and society has a obligation to all in society. So they should be able to give some to their children, but some should be taken by society to correct the error of imbalance of wages caused by capitalism.

And far worse now, since it is also monopoly capitalism by collusion or cabal.

So because the system sends money to the top out of proportion to actual work done, and because society should see a child born in poverty equal to someone born in wealth. Society should help correct the flaws in the society.


Complete fairness would be no inheritance at all, but that takes the right for a parent to share with children things they saved up over life. So some estate tax makes sense, and some inheritance makes sense.

Basically estate tax should break up consolidations from imbalance of distribution.

I have a real problem with that statement. I have seen a ton of family businesses that have the children working alongside their parents to build it up.
My grandfather started an electrical contracting business. About two years in my uncle joined him. They both built it to what it is today. So you can take that "they didn't earn it" crap and shove it. Not all people that inherit things from their parents are Paris Hiltons or Kennedy's.

[zeitgeist]

I have a real problem with that statement. I have seen a ton of family businesses that have the children working alongside their parents to build it up.
My grandfather started an electrical contracting business. About two years in my uncle joined him. They both built it to what it is today. So you can take that "they didn't earn it" crap and shove it. Not all people that inherit things from their parents are Paris Hiltons or Kennedy's.

Does anyone stop to consider the problem of Black Americans children?  And I am not about Jessie Jackon's son who (IIRC) managed to benefit from the exploitation of a beer distributorship by his dad. 

Blacks suffer more than whites from the in ability to build generational wealth. There may have been articles posted here or on the dump, I don't remember. 


America's Longest War, the war on poverty marches on.  If blacks ever figure out how LBJ and the democrats sacraficed whole generations of their families lives and wealth in this failed cause they would string them up by their heels all across this land.  Yet another reason why public ecucation is so important to the democrats.  Keep 'em angry, baffled, and stupid.  Makes 'em easier to control.

[DumbAss Tanker]

What ever you say, Tank......

ETA:

Granted they may not call it an inheritance tax, but it sure as hell is what I call it! Me being of sound mind and body of course, unlike our gubmint!

Read the second paragraph at that link and you will see the distinction.  The first paragraph seriously misuses the terms explained correctly in the second, then the rest of the article goes on to mix and match state and federal tax issues with wild abandon.  Whoever wrote it has a lot of technical bits and pieces correct and either doesn't understand them or is a truly shitty writer.

[AllosaursRus]

Read the second paragraph at that link and you will see the distinction.  The first paragraph seriously misuses the terms explained correctly in the second, then the rest of the article goes on to mix and match state and federal tax issues with wild abandon.  Whoever wrote it has a lot of technical bits and pieces correct and either doesn't understand them or is a truly shitty writer.

I'll go with shitty writer, but the fact remains, a tax is a tax, and it is on my estate that has already been taxed! Call it an inheritance tax, call it an estate tax! Same ****in' thing, a tax on money and assets I have already paid tax on!

[DumbAss Tanker]

The differences are still important, Al.  You can write to your Representative and Senators for the rest of your life and they can't do a frickin' thing about inheritance tax, but they CAN dump the estate tax.  The converse is true on the state side.  I am assuming you'd actually like to do something about getting it changed instead of just blowing off steam, of course.

[AllosaursRus]

The differences are still important, Al.  You can write to your Representative and Senators for the rest of your life and they can't do a frickin' thing about inheritance tax, but they CAN dump the estate tax.  The converse is true on the state side.  I am assuming you'd actually like to do something about getting it changed instead of just blowing off steam, of course.

I'm no DUmmie! I have already taken steps to make sure they ain't gettin' a dime from me or my kids! Have also made sure it will follow for generations unless they **** it up!

What pisses me off is that I have to go thru the expense of protecting what is mine from the damn government! Many people are completely ignorant of what happens with your shit once you pass! If guys like me don't educate them, who will?

[DumbAss Tanker]

You give 'em Hell, Al!

 

[AllosaursRus]

You give 'em Hell, Al!

 

In the words of my illustrious Father, "Trust Me"!

[true_blood]

McCarthy tried to warn us. For that matter so did Nikita Krushchev, though his was more prediction than warning. Of course the commie fellow travelers in the media ridiculed the idea of a "Red Menace" until it became nothing more than the punchline to a joke. Ridiculed the same way Conservatism and Christianity are now by comedians, talk show hosts and the press across the country on a daily basis.
Now we're left dealing with the heirs of that ideology - the DUmmies and all of their ilk. It hasn't helped that the Republicans Party has been led by gutless and corrupt career pols more interested in popularity and political correctness than the state of the country. I can only hope this Congress has the fire in the belly to pay more than lip service to conservative ideals. We will soon see.

Great post Dandi! H5. Since you mentioned Krushchev and the communism and how the comedians/talk show hosts and press mock conservativism and Christianity, this video is very proper and should be listened to be all.
[youtube=425,350]http://www.youtube.com/watch?v=AQ7LcplfkgY[/youtube]

[AllosaursRus]

Great post Dandi! H5. Since you mentioned Krushchev and the communism and how the comedians/talk show hosts and press mock conservativism and Christianity, this video is very proper and should be listened to be all.

And to think everyone told him he was full of shit! Wonder what the powers that be think now?