Elon Musk now owns 9.2% of twitter...update.. will soon be the sole owner as Board of Directors accepts his purchase offer

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ivwshane

Lifer
May 15, 2000
32,565
15,449
136
It might be "free" (losing a parent is a pretty big price to pay to get it) but it's a gift and should not be taxed, why would you want it taxed? I don't understand you people how you actually want MORE taxes when we're already overly taxed to begin with. Let people enjoy money that comes their way so it can actually go into the economy instead of a black hole. If you guys had your way you'd probably want birthday card money to be taxed too lol.

Your problem is that you’ve been brainwashed into believing that government is the problem and you’ve elected people that make it a problem. Where as we see government as a necessary in order to maintain a functioning society and to protect us from those who wish to do harm in the name of greed (either for the pursuit of money or power).
 
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ivwshane

Lifer
May 15, 2000
32,565
15,449
136
Such a retarded take. Again why are you people obsessed with taking money away from people? It just makes no sense that you actually WANT this. Do you not realize that this would affect you too?

Of course it would affect me but unlike you, I prefer a country who takes care of the less well off because I know what happens when we don’t take care of the less fortunate.

So why are you so selfish? Why do you hate this country?
 
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brycejones

Lifer
Oct 18, 2005
27,738
26,901
136
Of course it would affect me but unlike you, I prefer a country who takes care of the less well off because I know what happens when we don’t take care of the less fortunate.

So why are you so selfish? Why do you hate this country?
He doesn’t live in the US.
 

WelshBloke

Lifer
Jan 12, 2005
31,478
9,380
136
It might be "free" (losing a parent is a pretty big price to pay to get it) but it's a gift and should not be taxed, why would you want it taxed? I don't understand you people how you actually want MORE taxes when we're already overly taxed to begin with. Let people enjoy money that comes their way so it can actually go into the economy instead of a black hole. If you guys had your way you'd probably want birthday card money to be taxed too lol.
So you do understand what happens if you don't tax inheritance then?

Money gets more and more concentrated in one group of people. We used to call the the Aristocracy.

You can see why that might be a problem? Certain families getting more, and more control over the money supply as time goes on.
 

brycejones

Lifer
Oct 18, 2005
27,738
26,901
136
So you do understand what happens if you don't tax inheritance then?

Money gets more and more concentrated in one group of people. We used to call the the Aristocracy.

You can see why that might be a problem? Certain families getting more, and more control over the money supply as time goes on.

This.
 

Red Squirrel

No Lifer
May 24, 2003
68,531
12,648
126
www.anyf.ca
Of course it would affect me but unlike you, I prefer a country who takes care of the less well off because I know what happens when we don’t take care of the less fortunate.

So why are you so selfish? Why do you hate this country?

You are naive if you think that money goes to the poor.
 

Red Squirrel

No Lifer
May 24, 2003
68,531
12,648
126
www.anyf.ca
So you do understand what happens if you don't tax inheritance then?

Money gets more and more concentrated in one group of people. We used to call the the Aristocracy.

You can see why that might be a problem? Certain families getting more, and more control over the money supply as time goes on.

Ideally, it would get spent and go into the economy (instead of a black hole). We shouldn't force people to spend, if they want to save they should be able to, but most people tend to want to spend money 99% of the time.
 

WelshBloke

Lifer
Jan 12, 2005
31,478
9,380
136
Such a retarded take. Again why are you people obsessed with taking money away from people? It just makes no sense that you actually WANT this. Do you not realize that this would affect you too?
Why are you so obsessed with using publicly funded (though taxes) services and also cutting all funding for them?

Lots of people are happy to pay into a functional society, we absolutely understand it affects us to. That's the point. We are paying into a society. We want to live in a society.
 

pmv

Lifer
May 30, 2008
13,675
8,579
136
I’m sorry but the reason for the step up tax loophole is not because middle class people fear for their children. It’s because rich people don’t want to pay taxes.

That is probably true, but the point made is still partly valid, not least because the anxiety felt by the middle class over the issue is what helps the rich keep their inheritance loopholes. It leads the just-getting-by to imagine they have a common interest with the super-wealthy with regard to the general issue (and most people probably aren't aware of the multitude of ways that latter group can avoid paying those taxes at all).
 
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WelshBloke

Lifer
Jan 12, 2005
31,478
9,380
136
Ideally, it would get spent and go into the economy (instead of a black hole). We shouldn't force people to spend, if they want to save they should be able to, but most people tend to want to spend money 99% of the time.
Truly rich people spend a fraction of thier wealth. That money is taken out of the economy and stored away.
People in the lower economic groups do spend a much higher proportion of thier income. Thats really good for a thriving economy. This is why its a good idea to have high inheritance tax levels.
 

Pens1566

Lifer
Oct 11, 2005
12,321
9,175
136
Truly rich people spend a fraction of thier wealth. That money is taken out of the economy and stored away.
People in the lower economic groups do spend a much higher proportion of thier income. Thats really good for a thriving economy. This is why its a good idea to have high inheritance tax levels.

Ding, winner.
 

brycejones

Lifer
Oct 18, 2005
27,738
26,901
136
Ideally, it would get spent and go into the economy (instead of a black hole). We shouldn't force people to spend, if they want to save they should be able to, but most people tend to want to spend money 99% of the time.
You do realize the economies of the US and Canada are successful because of consumer spending ?
 

Red Squirrel

No Lifer
May 24, 2003
68,531
12,648
126
www.anyf.ca
Why are you so obsessed with using publicly funded (though taxes) services and also cutting all funding for them?

Lots of people are happy to pay into a functional society, we absolutely understand it affects us to. That's the point. We are paying into a society. We want to live in a society.

I already pay more than enough taxes that should cover those, you guys are calling for EVEN MORE taxes when we already pay too much.
 

Red Squirrel

No Lifer
May 24, 2003
68,531
12,648
126
www.anyf.ca
Not enough money goes to the poor and as I explained already, it’s because of people like you who are too shortsighted.
The real solution is to fix the system so it's easier for people to be self sufficient. Whatever is causing some groups of people to be poor should be fixed. Give a man a fish he eats for a day, teach a man to fish, he eats for life.
 

WelshBloke

Lifer
Jan 12, 2005
31,478
9,380
136
I already pay more than enough taxes that should cover those, you guys are calling for EVEN MORE taxes when we already pay too much.
So whats your end game here? If we dont tax inheritance? So every generation more and more of the money supply is concentrated in the hands of fewer and fewer families?

So what do we do then? Print more and more money because theres not enought left circulating for a functiomning economy? That leaves us with too much money floating around but we still have to print more because loads of it is being sat on.
 

ivwshane

Lifer
May 15, 2000
32,565
15,449
136
The real solution is to fix the system so it's easier for people to be self sufficient. Whatever is causing some groups of people to be poor should be fixed. Give a man a fish he eats for a day, teach a man to fish, he eats for life.

Sure but why can’t you do both? Do you think fixing the system is free? Do you think the fix is a one time thing or an ongoing development?
 

WelshBloke

Lifer
Jan 12, 2005
31,478
9,380
136
Whatever is causing some groups of people to be poor should be fixed.
People are poor because they dont have enough money. Start from there.

Your "no inheritance tax" thing reduces the amount of money in the economy in a very dangerous way.
 

Brovane

Diamond Member
Dec 18, 2001
5,688
1,962
136
I’m sorry but the reason for the step up tax loophole is not because middle class people fear for their children. It’s because rich people don’t want to pay taxes.

So someone passing on $100k versus someone passing on $100M is both defined by you as rich people who don't want to pay taxes?
I got a bridge to sell you if you think stopping the step-up-basis is going to tax the wealthy more. You got a $20M estate, you can easily afford $200k in estate planning with a good lawyer and a CPA to make sure you maximize tax law to your advantage. What this will mainly impact is the middle class family that passes on a $100k and cannot afford a estate planner.
 
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Vic

Elite Member
Jun 12, 2001
50,422
14,336
136
Your problem is that you’ve been brainwashed into believing that government is the problem and you’ve elected people that make it a problem. Where as we see government as a necessary in order to maintain a functioning society and to protect us from those who wish to do harm in the name of greed (either for the pursuit of money or power).
I disagree. People like Red Squirrel love govt. Especially big govt they can use against people they don't like. The idea that they're for freedom and small govt is the biggest lie in our political culture. They're only for freedom and small govt for themselves. That's why they don't want to pay their fair share. They want you to you to pay their share. More than that, they want to use govt to oppress you and steal from you.
Just like their hero Musk and all of his oligarch buddies do.
 

ivwshane

Lifer
May 15, 2000
32,565
15,449
136
I disagree. People like Red Squirrel love govt. Especially big govt they can use against people they don't like. The idea that they're for freedom and small govt is the biggest lie in our political culture. They're only for freedom and small govt for themselves. That's why they don't want to pay their fair share. They want you to you to pay their share. More than that, they want to use govt to oppress you and steal from you.
Just like their hero Musk and all of his oligarch buddies do.

The rich certainly do a good job of getting the not so rich to defend them and voting against their best interests.