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Honored Advisor

Re: Estate Taxes..Uff Da

Oh,excuse me, I forget who I am speaking to...but, in our state, "social spending" is shifted to at least some degree to the localities, partly in Medicaid share.  We have seen our local PROPERTY taxes rise by significant percentages, just to cover the cost of certain prescription drugs. 

 

Not my word, but that of our Director of Social Services.  Of courses, I am sure you think he is wrong, too. 

 

Schools our children never attended, sheriff's deputies that never arrive when you need one, economic development incentives that fatten the really rich, and leave working people with a little piece of property to mop up their mess, when they pack up their tents and slink away in the night.  The list is endless. 

 

As for these being "my" estate taxes, I haven't died yet;so, we will have to wait and see what the tax code spells out for my heirs.  I don't intend to give a damned dime extra to anyone with a name different than mine.  Free country, my opinion, nothing you can do about it. 

 

It helps if you have a modicum of manners. 

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Honored Advisor

Re: Robin Hood Kraft

Wrong again Kraft, ------------once more u prove you have limited knowledge

 

 

"They saved my butt by infusing money and saved you from worthless stock"-----------do a little research before you repeat something that is an absolute lie.  This is what happened--------have an opinion, but don't support it with fiction.

 

By Chris Isidore, CNNMoney.com senior writer

 

Pain for retirees, investors

More than 650,000 retirees and their family members who depend on the company for health insurance will experience cutbacks in their coverage, although their pension benefits are unaffected for now.

Investors in $27 billion worth of GM bonds, including mutual funds and thousands of individual investors, will end up with new stock in a reorganized GM worth a fraction of their original investment.

Owners of current GM (GMFortune 500) shares, which closed at just 75 cents a share on Friday, will have their investments essentially wiped out.

Officials from the Obama administration and the United Auto Workers union both have said they hope to sell their stakes in GM as soon as possible, but it is likely that shares of the new GM will not be publicly traded for at least a year or two.

The bankruptcy filing led the New York Stock Exchange to announce it would no longer list GM shares after Monday.

It will also lead to the removal of GM as of June 8 from the Dow Jones industrial average, a distinction it has held since 1925. The company will be replaced in the Dow by technology giant Cisco Systems (CSCOFortune 500), Dow Jones said.

President Obama said Monday he was confident that the additional federal help was justified by the changes being made at GM.

 

 

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Honored Advisor

Re: Just don't die

But, I don't "know what the hell I am talking about." 

 

Exactly what we were taught about estate taxation in civcs class. 
Thanks for the historical perspective, Jim. 

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Honored Advisor

Re: Robin Hood Kraft

What a shock..wrong twice on one thread. 

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Honored Advisor

Re: Just don't die

Hey Jim, do you know the progressive rate of estate tax that Theodore Roosevelt was proposing?..now this was kind of hard to find (hmmm I wonder why?) but from 1% to 5% 

http://debatepedia.idebate.org/en/index.php/Debate:_Estate_tax_in_the_United_States  By golly! I say, let`s do go back to ol` Teddy`s orginal idea.  

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Honored Advisor

Re: Estate Taxes..Uff Da

I am sure you can't figure out how I feel....

 

I got so peeved, listening to daughter tell me about two of her female acquaintances, both of whom quit good jobs, to get Medicaid to pay for their babies' deliveries.  Then, this chick was mouthing off about her big $3 co-pay in the waiting room. 

 

I know my daughter's deductible was several hundred, and they pay a lot each month, for her maternity coverage.  She is so disgusted with the women her age, who will have children with no husband in sight. 

 

It isn't the child's fault, so they deserve good care;but, you do haevot wonder how many times we can say it was an "accident."  Maybe I watch too much Judge Judy, but I agree with her that for most of the moms, it is a choice, and we are the ones who pay their consequences. 

 

Your SIL is telling the gospel truth. 

 

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Honored Advisor

Re: Estate Taxes..Uff Da

Hey Bruce, I don`t see where anyone brought this up but on the radio Neil Harl mentioned a "forever trust"  to bypass E-tax but as the name implies it`s forever the heirs can`t sell and it get expodentially more entangled (a 80 acre farm could have 100 owners and increasing) never sold, off the market "forever" that would be a monster paradox.  Actually those of us with land that would never sell and hope it would stay in the family untill the yr 2545 should hope for deflation so that more acres will fit into whatever exemption amount is finally settled on. On the other hand "hyper inflation" may out pace the apraised values ie heirs receiving $2,000/a rent could soften the sting of the E-tax.  My kids are too smart to farm(seriously) they take after their MotherSmiley Happy and will have jobs that will pay what my net worth is. I`ll be the last generation on the land, where I live has been in the family over 120 yrs, but no sentimental value to the youngins and most likely go on the auction block.  Which is fine, I just didn`t raise any farmers. 

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Veteran Advisor

Re: Estate Taxes..Uff Da

Didn't the Rockefellers do something along those lines?  I think it was them if I remember History class right, that had a trust set up for 17 generations, for tax purposes. 

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Honored Advisor

thanks

Thanks Jim,

I think ted was eyeing a few of the railroad and industrial barrons of the time.----as the reading goes. 

Where do you think Mr Roosevelt would like the  exemption now.  50m  or 250m  or even 1B  would catch the problem he was addressing.

 

Next year a person with a newer home in a california town, two rentals and a couple of cars will have amassed enough to share his estate with the government even if he has no savings.  Or an Iowa farmer with 200 acres, a home and a car----or a person with a well placed KFC.---------------not what Mr. Roosevelt had in mind.  But that won't stop some of us from cheering when  those rich folks who own  their own land have to pay.  I would like to eventually own a few assets, not see the dream taxed away.  

 

The end does not justify the means.

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Advisor

Re: Estate Taxes..Uff Da

; )

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