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View Full Version : House Votes To Repeal Tax On Richest 0.2 Percent Of Americans



Common
04-16-2015, 06:38 PM
This is why I say follow the GOPs votes and it will tell you the truth and nothing but the truth about what theyre all about.

The House of Representatives voted Thursday to give a tax break worth $269 billion to the richest few thousand estates in the country, and add that cost to the federal debt.Called the Death Tax Repeal Act of 2015, the bill would end the nearly 100-year-old federal estate tax. All but three Republicans voted in favor, while all but seven Democrats voted against. The legislation passed 239 to 179.
The measure benefits only the top .2 percent of the population because the other 99.8 percent of the country doesn't own enough wealth to ever pay the tax. Only estates worth more than $10.9 million for couples and $5.4 million for individuals fall under the tax.
Democrats were harshly critical of the bill, saying that it showed Republicans were being hypocritical with their recent expressions of concern for the widening income inequality gap in America.
"Today's vote to repeal the estate tax is just the Republican's last attempt to tilt the U.S. tax code in favor of their ultra wealthy campaign donors," said Rep. Jim McDermott (D-Wash.).

http://www.huffingtonpost.com/2015/04/16/estate-tax-house_n_7079744.html

zelmo1234
04-16-2015, 06:42 PM
Taxing already taxed money just because you die!!!! I am all for this!

71% of Americans think this is an unfair tax, Only those that are jealous of the rich want this done.

Never fear Obama will veto!

Common
04-16-2015, 06:48 PM
You and the rest of the right on here are always for anything that benefits the rich, nothing new here

zelmo1234
04-16-2015, 06:50 PM
You and the rest of the right on here are always for anything that benefits the rich, nothing new here

How abut farmers in the west and south that would have to sell out so there kids can pay the taxes, is that fair.

The government doesn't have a revenue problem, they have a spending problem!

PolWatch
04-16-2015, 06:51 PM
Let's see, I have to pay income tax on interest on savings accounts....money that I already paid tax on. The only difference is this new law only benefits those who inherit over 5 million. unfair? nah....why would anything think that?

del
04-16-2015, 06:52 PM
How abut farmers in the west and south that would have to sell out so there kids can pay the taxes, is that fair.

The government doesn't have a revenue problem, they have a spending problem!

no, it's bullshit

get up off your knees

Common
04-16-2015, 06:53 PM
How abut farmers in the west and south that would have to sell out so there kids can pay the taxes, is that fair.

The government doesn't have a revenue problem, they have a spending problem!

the govt has a outsourcing and inversion problem and a tax deduction problem that allows the rich to pay nothing.

Common
04-16-2015, 06:55 PM
Let's see, I have to pay income tax on interest on savings accounts....money that I already paid tax on. The only difference is this new law only benefits those who inherit over 5 million. unfair? nah....why would anything think that?

You pay into SS you pay tax on it again when you recieve it. You pay into your pension you pay tax on it again when you recieve it. All the money you paid into SS and pension is from your net after already paid income tax on it.

PolWatch
04-16-2015, 06:57 PM
You pay into SS you pay tax on it again when you recieve it. You pay into your pension you pay tax on it again when you recieve it. All the money you paid into SS and pension is from your net after already paid income tax on it.

that's why most of us don't have enough $$$ to buy us some government....

Common
04-16-2015, 06:58 PM
that's why most of us don't have enough $$$ to buy us some government....

Not to worry though Pol the republicans will assure the richest americans have enough money to buy america

zelmo1234
04-16-2015, 06:59 PM
the govt has a outsourcing and inversion problem and a tax deduction problem that allows the rich to pay nothing.

NO the rich are not paying nothing they are paying the lion share of federal income taxes.

The myth that they pay nothing is a lie proposed by democrats!

Here is your breakdown.

http://dailysignal.com/wp-content/uploads/top10-percent-income-earners-6005.jpg (http://dailysignal.com/wp-content/uploads/top10-percent-income-earners-6005.jpg)

Now who is really not paying there fair share? it is not the top 10%

Ya All bitch about no jobs but you take the money that should be used to create those jobs and give it to the government and they waste it!

And Nobody on the left will ever tell anyone what the fair share is? You know why? because the answer will always be more! and then More and them more!

del
04-16-2015, 07:00 PM
this is about estate taxes, not income taxes.

tissue?

zelmo1234
04-16-2015, 07:01 PM
You pay into SS you pay tax on it again when you recieve it. You pay into your pension you pay tax on it again when you recieve it. All the money you paid into SS and pension is from your net after already paid income tax on it.

No you don't they are pre tax deductions

PolWatch
04-16-2015, 07:01 PM
I'm a non-violent person. I think intelligent people solve problems by discussing them. However, the people who are worrying about those who inherit over 5 million and ignoring those who make more middle to lower wages may find out that it doesn't pay.

I remember an old adage of the Lord must love poor people because He made so many. Pitchforks & torches can do a lot of damage.

zelmo1234
04-16-2015, 07:03 PM
tissue?

Why yes thank you! :) But here is reality! there is 2 + trillion sitting in other countries that could be invested in the country and it is there because of this countries tax code.

There are no jobs because the risk reward is out of balance because of taxes and regulations. And then they are pissed because the rich are sitting on capital!

del
04-16-2015, 07:04 PM
No you don't they are pre tax deductions



Some people must pay taxes on their Social Security benefits. If you get Social Security, you should receive a Form SSA-1099, Social Security Benefit Statement, by early February. The form shows the amount of benefits you received in 2012.

Here are five tips from the IRS to help you determine if your benefits are taxable:



The amount of your income and your filing status affect whether you must pay taxes on your Social Security.
If Social Security was your only income in 2012, your benefits are probably not taxable. You also may not need to file a federal income tax return.
If you received income from other sources, then you may have to pay taxes on your benefits.
You can follow these two quick steps to see if your benefits are taxable:

Add one-half of the Social Security benefits you received to all your other income, including tax-exempt interest. Tax-exempt interest includes interest from state and municipal bonds.
Next, compare this total to the ‘base amount’ for your filing status. If the total is more than your base amount, then some of your benefits may be taxable.

The three 2012 base amounts are:

$25,000 for single, head of household, qualifying widow or widower with a dependent child or married individuals filing separately who did not live with their spouse at any time during the year;

$32,000 for married couples filing jointly; and

$0 for married persons filing separately who lived together at any time during the year.


http://www.irs.gov/uac/Newsroom/Social-Security-Benefits-and-Your-Taxes

edumicate yourself, stymie

zelmo1234
04-16-2015, 07:04 PM
I'm a non-violent person. I think intelligent people solve problems by discussing them. However, the people who are worrying about those who inherit over 5 million and ignoring those who make more middle to lower wages may find out that it doesn't pay.

I remember an old adage of the Lord must love poor people because He made so many. Pitchforks & torches can do a lot of damage.

do you know what the death tax% is?

del
04-16-2015, 07:05 PM
Why yes thank you! :) But here is reality! there is 2 + trillion sitting in other countries that could be invested in the country and it is there because of this countries tax code.

There are no jobs because the risk reward is out of balance because of taxes and regulations. And then they are pissed because the rich are sitting on capital!

yeah, i heard you the first three thousand times you tried to push this load uphill.

repeating it doesn't make it more believable

PolWatch
04-16-2015, 07:07 PM
I think that anyone who wants to keep their money offshore should be required to follow it. I also think anyone who moves their manufacturing offshore should be required to sell it offshore. We might lose some people but we would know those who stayed actually care about this nation. Now, they whine & run. Everyone talks about how much we are losing due to these people leaving...obviously we are still functioning without them. Don't let the door hit you in the rear...

zelmo1234
04-16-2015, 07:09 PM
Folks that does not hurt people that have lots of cash, because unless they die in some accident, the cash will not be reside in the USA.

So that money is working for some other country.

This tax hurts people that don't have cash, but have assets like large tracks of land. The 50% tax means that the family has to come up with 2.5 million dollars if they want to keep the family ranch that might have been part of the homestead act!

this is what you are all supporting and claiming to be for the little guy. When I die, if I am blessed to die of old age or if I have time to see it coming. there will be no money for the USA to tax. my son will then purchase anything and everything that he wants with credit cards that are drawn off foreign banks.

PolWatch
04-16-2015, 07:09 PM
do you know what the death tax% is?

obviously I don't have to deal with issues like that....why would I care? Those people have no interest in what I pay or difficulties I have to survive. They have bought & paid for their own personal government so I have no doubt they will enjoy the benefits of private ownership of a nation.

Common
04-16-2015, 07:09 PM
No you don't they are pre tax deductions

My pension payments were made out of my net pay bi weekly. Social Security are pre tax.

del
04-16-2015, 07:10 PM
Folks that does not hurt people that have lots of cash, because unless they die in some accident, the cash will not be reside in the USA.

So that money is working for some other country.

This tax hurts people that don't have cash, but have assets like large tracks of land. The 50% tax means that the family has to come up with 2.5 million dollars if they want to keep the family ranch that might have been part of the homestead act!

this is what you are all supporting and claiming to be for the little guy. When I die, if I am blessed to die of old age or if I have time to see it coming. there will be no money for the USA to tax. my son will then purchase anything and everything that he wants with credit cards that are drawn off foreign banks.

:rofl:

that's the patriot i've come to know



i'm going to go puke now

zelmo1234
04-16-2015, 07:11 PM
I think that anyone who wants to keep their money offshore should be required to follow it. I also think anyone who moves their manufacturing offshore should be required to sell it offshore. We might lose some people but we would know those who stayed actually care about this nation. Now, they whine & run. Everyone talks about how much we are losing due to these people leaving...obviously we are still functioning without them. Don't let the door hit you in the rear...

Unless you get rid of the free trade then there only other options is to close! So you would rather have NO jobs than some jobs.

The Trade agreements are the issue in competing with the imports.

The other options would be for American no to purchase product that were not made in the USA.

zelmo1234
04-16-2015, 07:12 PM
:rofl:

that's the patriot i've come to know



i'm going to go puke now

don't worry Del the government wont come for the 5 bucks you are passing on!

PolWatch
04-16-2015, 07:13 PM
who knows? maybe Zel's son will go to prison for financial fraud for that behavior. Guess it depends on who owns the government at the time....

zelmo1234
04-16-2015, 07:13 PM
My pension payments were made out of my net pay bi weekly. Social Security are pre tax.

Why would your employer do that to you???? unless you have a Roth IRA, and then you don't pay taxes when you draw it!

That is a terrible program!

del
04-16-2015, 07:14 PM
don't worry Del the government wont come for the 5 bucks you are passing on!

as with every other subject, you flap your gums about things you don't know about.

i will say i earned what i have as opposed to sucking off the govt tit like you.

zelmo1234
04-16-2015, 07:17 PM
who knows? maybe Zel's son will go to prison for financial fraud for that behavior. Guess it depends on who owns the government at the time....

Don't hate the player, hate the game. I will likely have about 6 to 7 million to pass on! If you think that I am giving the government 3.5 million just because I die?

You are crazy and if you were in this position you would feel the same way! So while you are feeling all patriotic. it is likely that I paid more in taxes this year that you will pay in your lifetime. To have them come back at the end and take 50% more is foolish if you let that happen.

Sorry, but the government does not have a revenue problem they have a spending problem

Mac-7
04-16-2015, 07:18 PM
There are a lot of liberal socialists posting on this topic who pretend to be non partisan.

Its not your money people.

zelmo1234
04-16-2015, 07:18 PM
as with every other subject, you flap your gums about things you don't know about.

i will say i earned what i have as opposed to sucking off the govt tit like you.

Yeah why do I think that the government is a lot higher percentage of your income than it is of mine.

Again you are hating the player and not the game.

del
04-16-2015, 07:18 PM
Don't hate the player, hate the game. I will likely have about 6 to 7 million to pass on! If you think that I am giving the government 3.5 million just because I die?

You are crazy and if you were in this position you would feel the same way! So while you are feeling all patriotic. it is likely that I paid more in taxes this year that you will pay in your lifetime. To have them come back at the end and take 50% more is foolish if you let that happen.

Sorry, but the government does not have a revenue problem they have a spending problem

i always find guys that tell me how rich they are, aren't.

i'm sure you're the exception to the rule.

PolWatch
04-16-2015, 07:19 PM
I know some people who are constantly complaining about how abused the wealthy are. They own 12+ rental houses in gated communities....Daddy died & left lots of nice stocks, etc, etc. In a time when veterans are having trouble getting decent medical care, they have found a way to use VA loans to now buy rental property. Just a little tad of fraud involved to leech off the VA but who cares? They complain about illegal aliens but guess where they hire their house painters, etc? You got it....Home Depot parking lot. They are good conservatives!

zelmo1234
04-16-2015, 07:20 PM
i always find guys that tell me how rich they are, aren't.

i'm sure you're the exception to the rule.

I don't consider myself rich! But the left in this country thinks that I am and they want there far share of what I earn.

And what are they going to do with it? the truth is not much

PolWatch
04-16-2015, 07:21 PM
Everyone on the internet is a millionaire genius...you don't even have to ask them, they will volunteer the information.

zelmo1234
04-16-2015, 07:23 PM
I know some people who are constantly complaining about how abused the wealthy are. They own 12+ rental houses in gated communities....Daddy died & left lots of nice stocks, etc, etc. In a time when veterans are having trouble getting decent medical care, they have found a way to use VA loans to now buy rental property. Just a little tad of fraud involved to leech off the VA but who cares? They complain about illegal aliens but guess where they hire their house painters, etc? You got it....Home Depot parking lot. They are good conservatives!

If they are breaking the law, turn their ass in! you know how I feel about people that employ illegals they are part of the problem. But they are the exception not the rule.

I have no idea what you mean on the VA loans. that seems like BS too. I am a debt free company so I don't do loans.

But the death tax why should the government get an additional 50% because you die?

zelmo1234
04-16-2015, 07:24 PM
Well Pol and Del I have received much harsher insults in my career by much better people so I am not likely to lose any sleep! so if it makes you feel better, do your worst.

Bob
04-16-2015, 07:25 PM
Taxing already taxed money just because you die!!!! I am all for this!

71% of Americans think this is an unfair tax, Only those that are jealous of the rich want this done.

Never fear Obama will veto!

I can't get over people who actually believe our duty from our first job is to be obedient to the Feds and send our money in to them. They stink when it comes to handling money. We have no clue where the money will end up. Then the last insult is to tax a person merely because they died. The heirs are the rightful owners of the estate.

del
04-16-2015, 07:26 PM
I don't consider myself rich! But the left in this country thinks that I am and they want there far share of what I earn.

And what are they going to do with it? the truth is not much

you're always telling me that i'm the left, and i don't think you're rich

i think you're full of shit

and collecting section 8 checks ain't earning

zelmo1234
04-16-2015, 07:35 PM
you're always telling me that i'm the left, and i don't think you're rich

i think you're full of $#@!

and collecting section 8 checks ain't earning

And I am very happy that you have that right! What is section 8?

Peter1469
04-16-2015, 07:38 PM
I think the first question to ask is who has ownership interest in money.

Mac-7
04-16-2015, 07:41 PM
you're always telling me that i'm the left, and i don't think you're rich

i think you're full of $#@!



All this bitterness and bitterness from the left.

we need a flat tax with no deductions for individuals or corporations.

One tax rate for everybody.

That way greedy libs can't raise taxes on their rich neighbors without raising taxes on themselves.

PolWatch
04-16-2015, 07:45 PM
I agree with the same tax for everyone....no credits, no deductions, no loopholes. Since corporations are persons...they get the same treatment.

zelmo1234
04-16-2015, 07:48 PM
I agree with the same tax for everyone....no credits, no deductions, no loopholes. Since corporations are persons...they get the same treatment.

I agree too, though I think that the first 35K should be tax free for everyone, that way you don't hurt people.

so on dollar 35,001 you start paying income tax

PolWatch
04-16-2015, 07:51 PM
I could go with the starting at $35,001.....but don't hold your breath. Its the middle class that doesn't have the resources to buy special legislation or pay for accountants to find loopholes. They are reliable cows to milk. Like to hear it or not, its the wealthy that can afford to find the loopholes and buy their own special laws.

Bob
04-16-2015, 08:24 PM
Well Pol and Del I have received much harsher insults in my career by much better people so I am not likely to lose any sleep! so if it makes you feel better, do your worst.

Both should knock it off.

Bob
04-16-2015, 08:27 PM
I agree with the same tax for everyone....no credits, no deductions, no loopholes. Since corporations are persons...they get the same treatment.

I bet we can knock off low taxes to corporations once they can't be sued. After all,you can't sue a rock, so how can you sue a corporation?

zelmo1234
04-16-2015, 08:30 PM
I could go with the starting at $35,001.....but don't hold your breath. Its the middle class that doesn't have the resources to buy special legislation or pay for accountants to find loopholes. They are reliable cows to milk. Like to hear it or not, its the wealthy that can afford to find the loopholes and buy their own special laws.

That is the idea of a flat tax no deductions, though if I have my preference charities would still qualify, but if you started a 35001 and had a 15% tax, the freaking government should be able to get by on 15% of what people make

And yes people with more money have accountants and tax lawyers. to find all of the deductions. I have both! And they don't come free.

Should that not tell you something is wrong with the system when I can employ 2 high paid employees and they can save me money? That is a shame

PolWatch
04-16-2015, 08:34 PM
That is the idea of a flat tax no deductions, though if I have my preference charities would still qualify, but if you started a 35001 and had a 15% tax, the freaking government should be able to get by on 15% of what people make

And yes people with more money have accountants and tax lawyers. to find all of the deductions. I have both! And they don't come free.

Should that not tell you something is wrong with the system when I can employ 2 high paid employees and they can save me money? That is a shame

That is one the reasons the system is inherently unfair and slanted to benefit the wealthy.

Mac-7
04-17-2015, 02:38 AM
I agree too, though I think that the first 35K should be tax free for everyone, that way you don't hurt people.

so on dollar 35,001 you start paying income tax

Tax the first dollar to the last.

Or do not allow anyone under $35k to vote.