Get rid of Income tax

[Bonestorm]

I don't really see the problem with the income tax. The problem is the different way that certain income is treated and the various deductions, etc. . .

Treat all income the same and have a progressive formula for paying taxes wherein all you have to do is plug in some numbers, maybe a deduction or two (dependents, for example) and pay the tax.

Additionally, the underlying basis for the inheritance tax is that the heir is receiving income and because it is income it should be taxed. If you do away with the income tax on what basis would you justify an inheritance tax?

 

[FUCK THE POLICE]

i understand what your saying and in fact agree that its not fair that by chance your born into a rich family.. but i just cant bring myself to fundamentally supporting the idea of taxing the shit out of inheritance.

Maybe we should just make inheritance taxable like all other income?

Oh wait! That would penalize more than it already does.

 

[Obfuscate]

Research has proven that making money about 60,000 a year doesn't really make a person happier or increase incentive...
.

Your childrens future sure soes though, that's what were talking about.

 

[evince]

Two million tax free income?

I will NEVER get to have two million tax free because I made the mistake of being born into a poor family.

Too much support for your kids can really fuck them up bad.

 

[Chapdog]

It was a general statement. 60 grand a year here is 50% more than it is there, but let's not exagerate COL differences.

50% is about accurate. 120here to = 60 in other parts of country. used to only be about 30% difference 10 years ago.

 

[Bonestorm]

i understand what your saying and in fact agree that its not fair that by chance your born into a rich family.. but i just cant bring myself to fundamentally supporting the idea of taxing the shit out of inheritance.

Well, "taxing the shit out" of inheritance is all relative I suppose. I don't think that having no taxes on up to $2 million ($3.5 million in 2009) is "taxing the shit out of inheritance."

 

[FUCK THE POLICE]

I don't really see the problem with the income tax. The problem is the different way that certain income is treated and the various deductions, etc. . .

Treat all income the same and have a progressive formula for paying taxes wherein all you have to do is plug in some numbers, maybe a deduction or two (dependents, for example) and pay the tax.

Additionally, the underlying basis for the inheritance tax is that the heir is receiving income and because it is income it should be taxed. If you do away with the income tax on what basis would you justify an inheritance tax?

Only taxing whenever the income is realized, rather than whenever it is given, is simpler, and in general, better for the economy. It also avoids double taxation in some areas.

 

[evince]

Your childrens future sure soes though, that's what were talking about.

Are you from DP guy?

 

[FUCK THE POLICE]

50% is about accurate. 120here to = 60 in other parts of country. used to only be about 30% difference 10 years ago.

It is accurate. It's the figure I remember from putting Boston and Wiggins into a CoL calculator.

 

[FUCK THE POLICE]

Your childrens future sure soes though, that's what were talking about.

After 2 or so million, it kind of becomes a moot point.

 

[Chapdog]

Well, "taxing the shit out" of inheritance is all relative I suppose. I don't think that having no taxes on up to $2 million ($3.5 million in 2009) is "taxing the shit out of inheritance."

ok let me give example. I have friend whos family scrimped and starved as lower middle class to acquire land because they loved horses. 50acres.. when i say scrimped im talking working 2 jobs and using fist full of cupons as we grew up together.

thru years that land has increased value. they were offered 13Mby a developer to develop into lots about 7 years ago. They dont want houses there.

They are both old and relatively unhealthy. 1 son is life long military guy was in iraq and has nothing saved. other son is divorced and works as a car dealer.

so what will happen when they die? the land is worth 13M plus? the sons have nothing to sell to pay some inheritance tax.

so they have to sell there parents hard work to pay taxes?

 

[Lao Tse]

With a consumption tax you encourage people to save. I fail to understand how that can possibly be construed as a bad thing.

Here's how it is. The NWO fascists planning on controlling us all through debt. They encourage materialism and eschew any other modes of living. If people saved instead of going into debt, this violates the point of the system; they would pronounce the economy a failure and pullout alltogether, until we begged for their enslavement again.

 

[evince]

If your kid cannot make two million into several million on their own they would just Piss away the money anyway.

 

[Topspin]

if it's a bunisses value at 2mm and that is tiny

 

[FUCK THE POLICE]

ok let me give example. I have friend whos family scrimped and starved as lower middle class to acquire land because they loved horses. 50acres.. when i say scrimped im talking working 2 jobs and using fist full of cupons as we grew up together.

thru years that land has increased value. they were offered 13Mby a developer to develop into lots about 7 years ago. They dont want houses there.

They are both old and relatively unhealthy. 1 son is life long military guy was in iraq and has nothing saved. other son is divorced and works as a car dealer.

so what will happen when they die? the land is worth 13M plus? the sons have nothing to sell to pay some inheritance tax.

so they have to sell there parents hard work to pay taxes?

I'm sure if your estate is worth THIRTEEN MILLION it's not going to be that hard to sell your summer home.

Poor babies... have to sell their summer home...

 

[Chapdog]

I'm sure if your estate is worth THIRTEEN MILLION it's not going to be that hard to sell your summer home.

Poor babies... have to sell their summer home...

no summer home. its property next to and behind a 1700's home they have lived in since they got marred 50+ years ago. so both sons want to live on that property and in that town when they settle down. they paid less then a couple hundred in total for all of it. they dont even make much money.

they will have to sell a bunch of it and have neighbors in order to pay the tax.

 

[evince]

Chap they got something.

I will be paying for my moms funeral and cleaning up whatever house she is living in for the landlord when she dies.

You want me to feel sorry for some guys who refused to plan their OWN lives?

 

[FUCK THE POLICE]

no summer home. its property next to and behind a 1700's home they have lived in since they got marred 50+ years ago. so both sons want to live on that property and in that town when they settle down. they paid less then a couple hundred in total for all of it. they dont even make much money.

they will have to sell a bunch of it and have neighbors in order to pay the tax.

Yeah, selling 30% of thirteen million, painful. They might starve.

 

[Chapdog]

you guys dont get it. the only way they can sell off just 30% is if they sell the best property frontage. the 13M is from a developer that would put a development in with a road. its fucked up that they tax property based on some appraisal. this rule should be changed. they didnt pay 13M for this property. its not some spoiled rich kids.

 

[evince]

you guys dont get it. the only way they can sell off just 30% is if they sell the best property frontage. the 13M is from a developer that would put a development in with a road. its fucked up that they tax property based on some appraisal. this rule should be changed. they didnt pay 13M for this property. its not some spoiled rich kids.

They can take out a loan on the property for the amount needed.