How are you spending your stimulus check?

[Littlebear]

Originally Posted by Dog Face Pony Soldier

My understanding is those against SALT deductions do so mainly because of two reasons.

1. The SALT deduction provides economic and thus political cover to state governments when they raise taxes. This only encourages more spending and raising taxes on the state level....

I thought Democrats liked higher taxes? :

What business is it of the Fed how the independent states tax their citizenry? Especially when these high SALT Blue states to carry the low SALT red states?
Who should rightfully be telling whom how to tax?

Murf

[Dog Face Pony Soldier]

Originally Posted by Littlebear

What business is it of the Fed how the independent states tax their citizenry? Especially when these high SALT Blue states to carry the low SALT red states?
Who should rightfully be telling whom how to tax?

Murf

They aren't. They're stopping letting the states pass the bill to them. That's the point.

[Littlebear]

Originally Posted by RickFLM4

Not necessarily - depends on one’s effective income tax rate. And if the issue is that capital gains rates are “unfair”, wouldn’t the logical solution be to raise capital gains taxes while people are alive rather than taxing them for dying (and dealing with the cost of capital consequences)? I’m not advocating for higher capital gains taxes at all, but not sure why an estate tax is justified because capital gains tax rates are what they are.

You asked what the difference was. Here’s another way to think about it. Let’s say you had zero income, zero assets and zero consumption (maybe you live off the public lands). You would owe zero taxes. However, if you were taxed to be alive, that would mean you owe taxes even with no income, assets or consumption. Substitute “dead” for “alive” and that’s the estate tax....

The last two Dems in WH fought for a substantial estate tax. Who killed that idea, saying it was 'double taxation'?

If I substitute "dead" for "alive" in your above example (no other changes), the person would still owe no taxes. How does a person with no income, assets, & consumption(!) pay a "death", or estate tax.

Murf

[tcphoto]

At this point, my priorities are bourbon, beer and food.

[Littlebear]

Originally Posted by Dog Face Pony Soldier

They aren't. They're stopping letting the states pass the bill to them. That's the point.

You missed something. The High SALT states carry the Low SALT states on the Fed tax level. It isn't the other way around.
Do you want to cut off your nose despite your face, or what?

Murf

[Dog Face Pony Soldier]

Originally Posted by Littlebear

You missed something. The High SALT states carry the Low SALT states on the Fed tax level. It isn't the other way around.
Do you want to cut off your nose despite your face, or what?

Murf

How would SALT reform impact any change in that?

[Littlebear]

Originally Posted by Dog Face Pony Soldier

How would SALT reform impact any change in that?

I doubt it would; Whiny Red would still try to suckle at Big Blue's Teat.
But we would have one less big distortion in fed taxation, which would help the overall efficiency of our country.

Murf

[dreamingat30fps]

The way I look at it it's pretty simple. The fucking government takes my money when I make it, they take it when I spend it, they take it just because I own shit, they take it if I give it away and apparently they also take it when I die. If that wasn't bad enough they blow most of it on hookers and blow. So fuck them! I will take back whatever I can, whenever I can and I don't even feel a tiny bit bad about it.

[Bimmer100_]

Originally Posted by cmyx6go

Small businesses do nothing for the economy? And you don’t think small businesses employ millions of people? This has to be the most ridiculous post I have ever read.

What I consider small business is "mom n pops" operations. If you have more than 10 employees, I consider that a real business.

[Dog Face Pony Soldier]

Originally Posted by bwsteg

What I consider small business is "mom n pops" operations. If you have more than 10 employees, I consider that a real business.

Wow. The official definition of a small business is <500 employees. What's weird is you seem to not consider a 9 person organization a "real business." Radical.

[RickFLM4]

Originally Posted by Littlebear

The last two Dems in WH fought for a substantial estate tax. Who killed that idea, saying it was 'double taxation'?

If I substitute "dead" for "alive" in your above example (no other changes), the person would still owe no taxes. How does a person with no income, assets, & consumption(!) pay a "death", or estate tax.

Murf

You obviously aren’t interested in what I’m telling you and just veer further and further away from the original erroneous statement you made, so let’s just agree to disagree and spare everyone else in the thread from further posts that are going nowhere.

[Littlebear]

Originally Posted by RickFLM4

You obviously aren’t interested in what I’m telling you and just veer further and further away from the original erroneous statement you made, so let’s just agree to disagree and spare everyone else in the thread from further posts that are going nowhere.

Touche!

Murf

[Hawkeye]

Originally Posted by Littlebear

You missed something. The High SALT states carry the Low SALT states on the Fed tax level. It isn't the other way around.
Do you want to cut off your nose despite your face, or what?

Murf

Where exactly did you see this again? I am not able to replicate what you are saying when controlling for population (census population, not actual population)
https://www.irs.gov/statistics/soi-t...a-book-table-5
https://www2.census.gov/programs-sur...2019-01.xlsx?#

What I see looks more like this, and "carrying" isn't really what this portrays.

[upstatedoc]

Originally Posted by Hawkeye

Where exactly did you see this again? I am not able to replicate what you are saying when controlling for population (census population, not actual population)
https://www.irs.gov/statistics/soi-t...a-book-table-5
https://www2.census.gov/programs-sur...2019-01.xlsx?#

What I see looks more like this, and "carrying" isn't really what this portrays.

please no..

[premier3is]

Originally Posted by bwsteg

What I consider small business is "mom n pops" operations. If you have more than 10 employees, I consider that a real business.

You just making up shit and throwing out numbers aren't you? The fuck did you get 10 from and not 9 or 8? Lol.

[premier3is]

Originally Posted by Dog Face Pony Soldier

IMO the inheritance tax advocates are just sad, bitter people whom don't want others passing the fruits of their labor down to their children.

I can't imagine why anyone would ever support having an estate tax. The money you'd inherit has already paid its dues and taxes... so why would it need to be taxed again? This is one of the most fucked up taxes I can think of honestly. The government just wants to squeeze every fuckin penny they can out of you while we keep adding trillions of dollars to our deficit. What a joke

[Dog Face Pony Soldier]

Originally Posted by premier3is

I can't imagine why anyone would ever support having an estate tax. The money you'd inherit has already paid its dues and taxes... so why would it need to be taxed again? This is one of the most fucked up taxes I can think of honestly. The government just wants to squeeze every fuckin penny they can out of you while we keep adding trillions of dollars to our deficit. What a joke

I'm not advocating here, but I do think it's important to understand the viewpoints of people we may disagree with. The theory here as I understand it is they're not taxing the deceased giving their wealth away; they're taxing the people obtaining said wealth. This syncs right up with the concept that all wealth is the government's and it's just a matter of how much they let you keep. Gross.

[premier3is]

Originally Posted by Dog Face Pony Soldier

I'm not advocating here, but I do think it's important to understand the viewpoints of people we may disagree with. The theory here as I understand it is they're not taxing the deceased giving their wealth away; they're taxing the people obtaining said wealth. This syncs right up with the concept that all wealth is the government's and it's just a matter of how much they let you keep. Gross.

I understand the idea behind it but it's just horrible to think how they rationalize it. Just shows that they don't give a fuck about us and want every penny they can get out of you. It's all about the Benjamin's.

At least write it so that if it went to immediate family you can avoid the estate tax.

[dreamingat30fps]

Originally Posted by premier3is

I can't imagine why anyone would ever support having an estate tax. The money you'd inherit has already paid its dues and taxes... so why would it need to be taxed again? This is one of the most fucked up taxes I can think of honestly. The government just wants to squeeze every fuckin penny they can out of you while we keep adding trillions of dollars to our deficit. What a joke

Well my guess is since I'm pretty sure there is a threshold in the millions for the death tax (could be wrong) people see it as a tax on the rich (because they don't see it ever affecting them directly) and we all know the type of people who would be for such a thing hate rich people. So my guess is it's not so much they like the idea of a death tax, more so they like sticking it to the rich people.

Originally Posted by premier3is

I understand the idea behind it but it's just horrible to think how they rationalize it. Just shows that they don't give a fuck about us and want every penny they can get out of you. It's all about the Benjamin's.

At least write it so that if it went to immediate family you can avoid the estate tax.

I mean they do the same with used cars sales. I paid tax on that car already so why the fuck would the next buyer have to pay tax again??? Plus we already pay registration and what not on the stupid thing every year.

[strohw]

Grabbing a base model 2009 Cayman. I've always had motorcycles. I think I'll try a sports car for a season or two. If it's not for me I'll just sell it and grab a couple of motorcycles again.

[Hawkeye]

Originally Posted by premier3is

I understand the idea behind it but it's just horrible to think how they rationalize it. Just shows that they don't give a fuck about us and want every penny they can get out of you. It's all about the Benjamin's.

At least write it so that if it went to immediate family you can avoid the estate tax.

I would rather have a wealth tax and reduce the income tax. Let people live on the money they make, but also make it so the people that are lucky enough to just be related to said person also should work instead of just being a jackoff.

The inheritance tax doesn't even kick in until after something like $22 million right?

I do mean rather. Having tax in every part of our lives and death is ridiculous.

[Littlebear]

Originally Posted by Hawkeye

I would rather have a wealth tax and reduce the income tax. Let people live on the money they make, but also make it so the people that are lucky enough to just be related to said person also should work instead of just being a jackoff.
The inheritance tax doesn't even kick in until after something like $22 million right?
I do mean rather. Having tax in every part of our lives and death is ridiculous.

Singling out the inheritance tax as bad double taxation is ridiculous. Double taxation is all through the system, not unique to the estate tax. Don't they still sales tax feminine hygiene products, but not Rogain?
The kids of the rich who are affected by the estate tax didn't pay a penny of tax on the inherited $$. Then they pay an estate tax.

Murf