SkyDekker 1,465
WalMart Heirs Have Same Net Worth As the Bottom 30 Percent Of Americans
By
dreamdancer, in Speakers Corner
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tonyhays 86
QuoteHey now
This bring up a point I had not yet thought of
Maybe he should be complaining about lazy ass parents who did not leave him anything??
Maybe we are geting to the root of his anger?
Or more likely, left everything to a sibling 'cause they knew that someone still living at home in mommies basement wouldn't do anything useful with an inheritance.
“That which can be asserted without evidence, can be dismissed without evidence.”
and while you're slagging me off the 1% get even richer at our expense...
stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding
blue skies from thai sky adventures
good solid response-provoking keyboarding
http://www.youtube.com/watch?v=I1uozbQqmR8&feature=player_embedded
stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding
blue skies from thai sky adventures
good solid response-provoking keyboarding
tonyhays 86
Quoteand while you're slagging me off the 1% get even richer at our expense...
I couldn't care less that 1% get richer. I have more important things to worry about than other peoples issues.
Life is not, nor will it ever be, fair. Someone will always have more than you.
Seriously, get over it.
“That which can be asserted without evidence, can be dismissed without evidence.”
QuoteQuotef, every farmer or rancher that had a big mortgage or loan, quit... where do you thin people are going to get their food
The food will be prohibitively expensive, and alternet and commondreams can bitch about the greed of the American farmer, organize "Occupy Farmland" protests during harvest time, steal food from the silos, and talk about how fantastic they've been.
Then when the farmers go out of business, then food becomes more expensive, and they bitch about how the government has to do something to feed people and make food more affordable and that corporate greed and redneck farmers caused this problem and should suffer the consequences.
Aren't you understanding this? "Bitch about problems. Don't work to solve them. If possible, cause more problems, thus being able to bitch about them. Pick a villain, point the finger, and bitch that they caused it. Repeat."
Yes, I understand the situation. Name one person who doesn't bitch about something! One person who is being left out of all this discussion is 'the middleman'. He buys (cheap) from the farmer and sells (high) to the grocery stores.
Chuck
well, very unfairly, inheritance tax is going to have to be increased to a decent rate. you'll get used to the idea 
stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding
blue skies from thai sky adventures
good solid response-provoking keyboarding
Quote
Bwa-hahahahahahahaha...
Just telling it like it is! I'm sorry that you're not getting your share of the fatted calf.
Chuck
Hey now
This bring up a point I had not yet thought of
Maybe he should be complaining about lazy ass parents who did not leave him anything??
Maybe we are geting to the root of his anger?
Ding,ding,ding...
Then, he tries the old switcheroo by saying everyone else is 'whining'! His bowels are probably bound-up from all the cheese with his whine!?
Chuck
SkyDekker 1,465
QuoteI couldn't care less that 1% get richer. I have more important things to worry about than other peoples issues.
Life is not, nor will it ever be, fair. Someone will always have more than you.
Seriously, get over it.
I agree.
However, there are limits to this position as well. I am sure you would not support 1 family in the US to hold 99.99% of the wealth.
So, the main question is, where is that line were it goes from acceptable to unacceptable?
QuoteQuoteI couldn't care less that 1% get richer. I have more important things to worry about than other peoples issues.
Life is not, nor will it ever be, fair. Someone will always have more than you.
Seriously, get over it.
I agree.
However, there are limits to this position as well. I am sure you would not support 1 family in the US to hold 99.99% of the wealth.
So, the main question is, where is that line were it goes from acceptable to unacceptable?
refer to title of thread
stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding
blue skies from thai sky adventures
good solid response-provoking keyboarding
are you still whining about me...
(and in my own thread - very rude)
(and in my own thread - very rude)
stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding
blue skies from thai sky adventures
good solid response-provoking keyboarding
SkyDekker 1,465
QuoteQuoteQuoteI couldn't care less that 1% get richer. I have more important things to worry about than other peoples issues.
Life is not, nor will it ever be, fair. Someone will always have more than you.
Seriously, get over it.
I agree.
However, there are limits to this position as well. I am sure you would not support 1 family in the US to hold 99.99% of the wealth.
So, the main question is, where is that line were it goes from acceptable to unacceptable?
refer to title of thread
Well, unlike you, I don't think the US is quite there yet. But, I do think that when you look at the historic path, it is leading in that direction.
Oh, unlike you I think the 1% are full of it and have no clue. I think they are doing more harm than good. They allow the issues to get so dilluted that they are easily dismissed.
Quote
Yeah? From whom? They've got land that is already mortgaged in most cases. They have equipment with payments due. Let's not talk about seed, feed, vermin control, water, electric, utilities, etc. All the expenses necessary to get a farm running.
Serious question--if there are liabilities against the estate then that is taken into account when figuring the inheritance tax, right? So a $4M farm w/ a 3M mortgage only counts as a $1M inheritance?
"What if there were no hypothetical questions?"
QuoteQuoteQuoteQuoteI couldn't care less that 1% get richer. I have more important things to worry about than other peoples issues.
Life is not, nor will it ever be, fair. Someone will always have more than you.
Seriously, get over it.
I agree.
However, there are limits to this position as well. I am sure you would not support 1 family in the US to hold 99.99% of the wealth.
So, the main question is, where is that line were it goes from acceptable to unacceptable?
refer to title of thread
Well, unlike you, I don't think the US is quite there yet. But, I do think that when you look at the historic path, it is leading in that direction.
Oh, unlike you I think the 1% are full of it and have no clue. I think they are doing more harm than good. They allow the issues to get so dilluted that they are easily dismissed.
the acceleration of wealth accumulation at the very top has been incredible over the last couple of decades. the resulting crash was not hard to see...
stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding
blue skies from thai sky adventures
good solid response-provoking keyboarding
QuoteQuote
Yeah? From whom? They've got land that is already mortgaged in most cases. They have equipment with payments due. Let's not talk about seed, feed, vermin control, water, electric, utilities, etc. All the expenses necessary to get a farm running.
Serious question--if there are liabilities against the estate then that is taken into account when figuring the inheritance tax, right? So a $4M farm w/ a 3M mortgage only counts as a $1M inheritance?
Yes.
But it doesn't help the situation too much. For a rancher, the land is going to be nearly all of the asset, the business itself has very low value. So figure it's 7M in assets (95% for the land), 3M in debts that have to be serviced by cash flow. End result is six figures in profit - hopefully, but the hourly isn't a pretty sight. Maybe much worse than that- masterig could answer better.
You need all the land - you can't just sell off half without losing a corresponding capacity for product. It's an illiquid asset. And there are only so many buyers, ones that know you have to sell quickly to pay the tax bill.
This situation really isn't the poster child for inheritance tax policy. But since everyone wants to talk about it, let's talk honestly about it.
Better yet, let's talk about the huge benefits in cost basis step up when a single spouse dies...the widow or widower gains huge wealth with no taxes at all. Better send DD after them! He can nag them into paying up...or at least paying some goon to beat him.
QuoteQuotef, every farmer or rancher that had a big mortgage or loan, quit... where do you thin people are going to get their food
The food will be prohibitively expensive, and alternet and commondreams can bitch about the greed of the American farmer, organize "Occupy Farmland" protests during harvest time, steal food from the silos, and talk about how fantastic they've been.
for my own interests, I don't worry so much about price as I do about quality. These farm/ranch selloffs generally go to those with the money to buy them - megafarms. And we know that their product is generally inferior, and sometimes outright scary. We also end up with fewer choices.
I love being able to choose between meat from that city sized feed lot in the midwest, or for more money, from a rancher that has 2000 cattle in total and only kills a couple a week. Corn fed, grass fed, grass fed then corn fattened...so many choices for taste, health, or political/social beliefs.
normiss 851
You ignored the part where they HAVE BEEN WORKING THE FARM FOR FORTY YEARS.
I'm very thankful the lack of understanding and intelligence in your perspective is so transparent.
Quoteyou're the one equating a decent inheritance tax with communism...
No, I am equating an unfair inheritance tax with communism.
You're the Communist and/or Socialist supporter heere, not me. I'm fully in favor of self reliance with charity being voluntary, not compulsory.
HAMMER:
Originally employed as a weapon of war, the hammer nowadays is used as a
kind of divining rod to locate the most expensive parts adjacent the
object we are trying to hit.
Originally employed as a weapon of war, the hammer nowadays is used as a
kind of divining rod to locate the most expensive parts adjacent the
object we are trying to hit.
Yeah. It was incomplete estate planning. Geezer died before completing the transactions.
But I also find it interfesting that even dreamdancer suggests that they should have done estate planning to avoid it. While saying that an indecent tax should be levied.
My wife is hotter than your wife.
But I also find it interfesting that even dreamdancer suggests that they should have done estate planning to avoid it. While saying that an indecent tax should be levied.
My wife is hotter than your wife.
QuoteYeah. It was incomplete estate planning. Geezer died before completing the transactions.
But I also find it interfesting that even dreamdancer suggests that they should have done estate planning to avoid it. While saying that an indecent tax should be levied.
Tell me this, The inheritance tax is there... how does 'estate planning' avoid it?
Chuck
normiss 851
What is this ideal inheritance tax as you would envision?
To me, the inheritance tax is a crock of crap! Should be 0%! That estate has been paying taxes over the years and would continue to pay taxes if, left alone.
Chuck
Chuck
Pretty sure debt against asset is a write off. Also would seem a fair bit of this is just poor estate planning.
Not arguing pro or con an estate tax, but there seems to be a lot of (deliberate?) misinformation being thrown about.
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