I think it's the ongoing assault on the middle class
People who own businesses, worth millions, are not middle class.
Have you ever made your own money, or have you always lived off others?
Ironic considering the subject of the thread.
Who cares? That clearly has no value. If it did, you guys wouldn’t be sobbing over exactly how much the children of millionaires should inherit.
Obviously you failed economics, because you lack little to no understanding of how a business operates. Say Dad passes away from his manufacturing company, and said company is now valued minus liabilities at roughly $6.5 million dollars. If dad founded said company, then you are looking at a capital return of $6.5 million in value. If you tax 50%, that creates a tax bill of $3.25 million. Do you think the business has reserves in place for that kind of bill? So what can the kid's do? Sell the business, or liquidate a large portion of the company's assets (machines, supplies, inventory) to cover the cost. In essence, the government takes a soundly ran family owned business, and turns it into a shell of it's former self. More often enough liquidating the business into bankruptcy or forcing a quick sell to a conglomerate. Which then restricts competitions, and helps create an oligopoly in even more segments of the economy. Great thought process genius. Now I can see why you hate standardized testing so much.
Except the White House has already said it’s going to exempt family owned businesses and farmers who continue to run the business.
I think it's the ongoing assault on the middle class
People who own businesses, worth millions, are not middle class.
Have you ever made your own money, or have you always lived off others?
Ironic considering the subject of the thread.
Who cares? That clearly has no value. If it did, you guys wouldn’t be sobbing over exactly how much the children of millionaires should inherit.
Obviously you failed economics, because you lack little to no understanding of how a business operates. Say Dad passes away from his manufacturing company, and said company is now valued minus liabilities at roughly $6.5 million dollars. If dad founded said company, then you are looking at a capital return of $6.5 million in value. If you tax 50%, that creates a tax bill of $3.25 million. Do you think the business has reserves in place for that kind of bill? So what can the kid's do? Sell the business, or liquidate a large portion of the company's assets (machines, supplies, inventory) to cover the cost. In essence, the government takes a soundly ran family owned business, and turns it into a shell of it's former self. More often enough liquidating the business into bankruptcy or forcing a quick sell to a conglomerate. Which then restricts competitions, and helps create an oligopoly in even more segments of the economy. Great thought process genius. Now I can see why you hate standardized testing so much.
I think it's the ongoing assault on the middle class
People who own businesses, worth millions, are not middle class.
Have you ever made your own money, or have you always lived off others?
Ironic considering the subject of the thread.
Who cares? That clearly has no value. If it did, you guys wouldn’t be sobbing over exactly how much the children of millionaires should inherit.
Obviously you failed economics, because you lack little to no understanding of how a business operates. Say Dad passes away from his manufacturing company, and said company is now valued minus liabilities at roughly $6.5 million dollars. If dad founded said company, then you are looking at a capital return of $6.5 million in value. If you tax 50%, that creates a tax bill of $3.25 million. Do you think the business has reserves in place for that kind of bill? So what can the kid's do? Sell the business, or liquidate a large portion of the company's assets (machines, supplies, inventory) to cover the cost. In essence, the government takes a soundly ran family owned business, and turns it into a shell of it's former self. More often enough liquidating the business into bankruptcy or forcing a quick sell to a conglomerate. Which then restricts competitions, and helps create an oligopoly in even more segments of the economy. Great thought process genius. Now I can see why you hate standardized testing so much.
buy/sell agreement funded with Life Insurance.
Done.
How much is a $3.25 million dollar policy? Not very cheap. Especially if the dad has prior or current health issues.
We have a record percentage of the US population not paying taxes this year. Instead of getting these waste of space shitbags back to work, the government decides to double tax hardworking families. Seems like a bold strategy.
I think it's the ongoing assault on the middle class
People who own businesses, worth millions, are not middle class.
Have you ever made your own money, or have you always lived off others?
Ironic considering the subject of the thread.
Who cares? That clearly has no value. If it did, you guys wouldn’t be sobbing over exactly how much the children of millionaires should inherit.
Obviously you failed economics, because you lack little to no understanding of how a business operates. Say Dad passes away from his manufacturing company, and said company is now valued minus liabilities at roughly $6.5 million dollars. If dad founded said company, then you are looking at a capital return of $6.5 million in value. If you tax 50%, that creates a tax bill of $3.25 million. Do you think the business has reserves in place for that kind of bill? So what can the kid's do? Sell the business, or liquidate a large portion of the company's assets (machines, supplies, inventory) to cover the cost. In essence, the government takes a soundly ran family owned business, and turns it into a shell of it's former self. More often enough liquidating the business into bankruptcy or forcing a quick sell to a conglomerate. Which then restricts competitions, and helps create an oligopoly in even more segments of the economy. Great thought process genius. Now I can see why you hate standardized testing so much.
The Kobes of the world, who want to turn everything into a commune, aside, I think most agree that this is a shitty scenario that we should structure any estate tax law to avoid.
And as far as I know most succession and estate planning lawyers are able to navigate and avoid this outcome through any number of trusts or special partnership arrangements. How often do we? actually see businesses liquidating in order to meet an estate tax burden?
I think it's the ongoing assault on the middle class
People who own businesses, worth millions, are not middle class.
Have you ever made your own money, or have you always lived off others?
Ironic considering the subject of the thread.
Who cares? That clearly has no value. If it did, you guys wouldn’t be sobbing over exactly how much the children of millionaires should inherit.
Obviously you failed economics, because you lack little to no understanding of how a business operates. Say Dad passes away from his manufacturing company, and said company is now valued minus liabilities at roughly $6.5 million dollars. If dad founded said company, then you are looking at a capital return of $6.5 million in value. If you tax 50%, that creates a tax bill of $3.25 million. Do you think the business has reserves in place for that kind of bill? So what can the kid's do? Sell the business, or liquidate a large portion of the company's assets (machines, supplies, inventory) to cover the cost. In essence, the government takes a soundly ran family owned business, and turns it into a shell of it's former self. More often enough liquidating the business into bankruptcy or forcing a quick sell to a conglomerate. Which then restricts competitions, and helps create an oligopoly in even more segments of the economy. Great thought process genius. Now I can see why you hate standardized testing so much.
The Kobes of the world, who want to turn everything into a commune, aside, I think most agree that this is a shitty scenario that we should structure any estate tax law to avoid.
And as far as I know most succession and estate planning lawyers are able to navigate and avoid this outcome through any number of trusts or special partnership arrangements. How often do we? actually see businesses liquidating in order to meet an estate tax burden?
They could just saddle themselves with debt to pay the tax burden as well. Don’t see that as a great option either.
I think it's the ongoing assault on the middle class
People who own businesses, worth millions, are not middle class.
Have you ever made your own money, or have you always lived off others?
Ironic considering the subject of the thread.
Who cares? That clearly has no value. If it did, you guys wouldn’t be sobbing over exactly how much the children of millionaires should inherit.
Obviously you failed economics, because you lack little to no understanding of how a business operates. Say Dad passes away from his manufacturing company, and said company is now valued minus liabilities at roughly $6.5 million dollars. If dad founded said company, then you are looking at a capital return of $6.5 million in value. If you tax 50%, that creates a tax bill of $3.25 million. Do you think the business has reserves in place for that kind of bill? So what can the kid's do? Sell the business, or liquidate a large portion of the company's assets (machines, supplies, inventory) to cover the cost. In essence, the government takes a soundly ran family owned business, and turns it into a shell of it's former self. More often enough liquidating the business into bankruptcy or forcing a quick sell to a conglomerate. Which then restricts competitions, and helps create an oligopoly in even more segments of the economy. Great thought process genius. Now I can see why you hate standardized testing so much.
The Kobes of the world, who want to turn everything into a commune, aside, I think most agree that this is a shitty scenario that we should structure any estate tax law to avoid.
And as far as I know most succession and estate planning lawyers are able to navigate and avoid this outcome through any number of trusts or special partnership arrangements. How often do we? actually see businesses liquidating in order to meet an estate tax burden?
They could just saddle themselves with debt to pay the tax burden as well. Don’t see that as a great option either.
I guess, but the point is that there are a lot of avenues for relief that are utilized on a wide scale, specifically to avoid the scenario you outlined. Avenues that are perfectly legitimate costs of doing business and don't involve debt.
That's why I'm questioning just how salient your scenario is. It sounds bad, but it's not in the spirit of the estate tax that people advocate for, and in practice I'm not convinced that this is actually occurring at a level we should be concerned about.
I think it's the ongoing assault on the middle class
People who own businesses, worth millions, are not middle class.
Have you ever made your own money, or have you always lived off others?
Ironic considering the subject of the thread.
Who cares? That clearly has no value. If it did, you guys wouldn’t be sobbing over exactly how much the children of millionaires should inherit.
Obviously you failed economics, because you lack little to no understanding of how a business operates. Say Dad passes away from his manufacturing company, and said company is now valued minus liabilities at roughly $6.5 million dollars. If dad founded said company, then you are looking at a capital return of $6.5 million in value. If you tax 50%, that creates a tax bill of $3.25 million. Do you think the business has reserves in place for that kind of bill? So what can the kid's do? Sell the business, or liquidate a large portion of the company's assets (machines, supplies, inventory) to cover the cost. In essence, the government takes a soundly ran family owned business, and turns it into a shell of it's former self. More often enough liquidating the business into bankruptcy or forcing a quick sell to a conglomerate. Which then restricts competitions, and helps create an oligopoly in even more segments of the economy. Great thought process genius. Now I can see why you hate standardized testing so much.
The Kobes of the world, who want to turn everything into a commune, aside, I think most agree that this is a shitty scenario that we should structure any estate tax law to avoid.
And as far as I know most succession and estate planning lawyers are able to navigate and avoid this outcome through any number of trusts or special partnership arrangements. How often do we? actually see businesses liquidating in order to meet an estate tax burden?
I think it's the ongoing assault on the middle class
People who own businesses, worth millions, are not middle class.
Have you ever made your own money, or have you always lived off others?
Ironic considering the subject of the thread.
Who cares? That clearly has no value. If it did, you guys wouldn’t be sobbing over exactly how much the children of millionaires should inherit.
Obviously you failed economics, because you lack little to no understanding of how a business operates. Say Dad passes away from his manufacturing company, and said company is now valued minus liabilities at roughly $6.5 million dollars. If dad founded said company, then you are looking at a capital return of $6.5 million in value. If you tax 50%, that creates a tax bill of $3.25 million. Do you think the business has reserves in place for that kind of bill? So what can the kid's do? Sell the business, or liquidate a large portion of the company's assets (machines, supplies, inventory) to cover the cost. In essence, the government takes a soundly ran family owned business, and turns it into a shell of it's former self. More often enough liquidating the business into bankruptcy or forcing a quick sell to a conglomerate. Which then restricts competitions, and helps create an oligopoly in even more segments of the economy. Great thought process genius. Now I can see why you hate standardized testing so much.
The Kobes of the world, who want to turn everything into a commune, aside, I think most agree that this is a shitty scenario that we should structure any estate tax law to avoid.
And as far as I know most succession and estate planning lawyers are able to navigate and avoid this outcome through any number of trusts or special partnership arrangements. How often do we? actually see businesses liquidating in order to meet an estate tax burden?
I just want people to have healthcare, man.
It's hard to tell where your trolling ends, and your serious calls for seizing the means of production begins.
I think it's the ongoing assault on the middle class
People who own businesses, worth millions, are not middle class.
Have you ever made your own money, or have you always lived off others?
Ironic considering the subject of the thread.
Who cares? That clearly has no value. If it did, you guys wouldn’t be sobbing over exactly how much the children of millionaires should inherit.
Obviously you failed economics, because you lack little to no understanding of how a business operates. Say Dad passes away from his manufacturing company, and said company is now valued minus liabilities at roughly $6.5 million dollars. If dad founded said company, then you are looking at a capital return of $6.5 million in value. If you tax 50%, that creates a tax bill of $3.25 million. Do you think the business has reserves in place for that kind of bill? So what can the kid's do? Sell the business, or liquidate a large portion of the company's assets (machines, supplies, inventory) to cover the cost. In essence, the government takes a soundly ran family owned business, and turns it into a shell of it's former self. More often enough liquidating the business into bankruptcy or forcing a quick sell to a conglomerate. Which then restricts competitions, and helps create an oligopoly in even more segments of the economy. Great thought process genius. Now I can see why you hate standardized testing so much.
The Kobes of the world, who want to turn everything into a commune, aside, I think most agree that this is a shitty scenario that we should structure any estate tax law to avoid.
And as far as I know most succession and estate planning lawyers are able to navigate and avoid this outcome through any number of trusts or special partnership arrangements. How often do we? actually see businesses liquidating in order to meet an estate tax burden?
I just want people to have healthcare, man.
So let’s eliminate jobs that provide healthcare
But I get it … in your world healthcare is a universal benefit provided by the government
I think it's the ongoing assault on the middle class
People who own businesses, worth millions, are not middle class.
Have you ever made your own money, or have you always lived off others?
Ironic considering the subject of the thread.
Who cares? That clearly has no value. If it did, you guys wouldn’t be sobbing over exactly how much the children of millionaires should inherit.
Obviously you failed economics, because you lack little to no understanding of how a business operates. Say Dad passes away from his manufacturing company, and said company is now valued minus liabilities at roughly $6.5 million dollars. If dad founded said company, then you are looking at a capital return of $6.5 million in value. If you tax 50%, that creates a tax bill of $3.25 million. Do you think the business has reserves in place for that kind of bill? So what can the kid's do? Sell the business, or liquidate a large portion of the company's assets (machines, supplies, inventory) to cover the cost. In essence, the government takes a soundly ran family owned business, and turns it into a shell of it's former self. More often enough liquidating the business into bankruptcy or forcing a quick sell to a conglomerate. Which then restricts competitions, and helps create an oligopoly in even more segments of the economy. Great thought process genius. Now I can see why you hate standardized testing so much.
The Kobes of the world, who want to turn everything into a commune, aside, I think most agree that this is a shitty scenario that we should structure any estate tax law to avoid.
And as far as I know most succession and estate planning lawyers are able to navigate and avoid this outcome through any number of trusts or special partnership arrangements. How often do we? actually see businesses liquidating in order to meet an estate tax burden?
I just want people to have healthcare, man.
So let’s eliminate jobs that provide healthcare
But I get it … in your world healthcare is a universal benefit provided by the government
I think it's the ongoing assault on the middle class
People who own businesses, worth millions, are not middle class.
Have you ever made your own money, or have you always lived off others?
Ironic considering the subject of the thread.
Who cares? That clearly has no value. If it did, you guys wouldn’t be sobbing over exactly how much the children of millionaires should inherit.
Obviously you failed economics, because you lack little to no understanding of how a business operates. Say Dad passes away from his manufacturing company, and said company is now valued minus liabilities at roughly $6.5 million dollars. If dad founded said company, then you are looking at a capital return of $6.5 million in value. If you tax 50%, that creates a tax bill of $3.25 million. Do you think the business has reserves in place for that kind of bill? So what can the kid's do? Sell the business, or liquidate a large portion of the company's assets (machines, supplies, inventory) to cover the cost. In essence, the government takes a soundly ran family owned business, and turns it into a shell of it's former self. More often enough liquidating the business into bankruptcy or forcing a quick sell to a conglomerate. Which then restricts competitions, and helps create an oligopoly in even more segments of the economy. Great thought process genius. Now I can see why you hate standardized testing so much.
The Kobes of the world, who want to turn everything into a commune, aside, I think most agree that this is a shitty scenario that we should structure any estate tax law to avoid.
And as far as I know most succession and estate planning lawyers are able to navigate and avoid this outcome through any number of trusts or special partnership arrangements. How often do we? actually see businesses liquidating in order to meet an estate tax burden?
I just want people to have healthcare, man.
It's hard to tell where your trolling ends, and your serious calls for seizing the means of production begins.
I’ve said repeatedly, America will not be socialist in my lifetime and may very well never be socialist.
I’m also never going to convince people that think Biden is a Marxist to be socialists so if I’m talking like a socialist, it’s just to piss them off.
I think it's the ongoing assault on the middle class
People who own businesses, worth millions, are not middle class.
Have you ever made your own money, or have you always lived off others?
Ironic considering the subject of the thread.
Who cares? That clearly has no value. If it did, you guys wouldn’t be sobbing over exactly how much the children of millionaires should inherit.
Obviously you failed economics, because you lack little to no understanding of how a business operates. Say Dad passes away from his manufacturing company, and said company is now valued minus liabilities at roughly $6.5 million dollars. If dad founded said company, then you are looking at a capital return of $6.5 million in value. If you tax 50%, that creates a tax bill of $3.25 million. Do you think the business has reserves in place for that kind of bill? So what can the kid's do? Sell the business, or liquidate a large portion of the company's assets (machines, supplies, inventory) to cover the cost. In essence, the government takes a soundly ran family owned business, and turns it into a shell of it's former self. More often enough liquidating the business into bankruptcy or forcing a quick sell to a conglomerate. Which then restricts competitions, and helps create an oligopoly in even more segments of the economy. Great thought process genius. Now I can see why you hate standardized testing so much.
The Kobes of the world, who want to turn everything into a commune, aside, I think most agree that this is a shitty scenario that we should structure any estate tax law to avoid.
And as far as I know most succession and estate planning lawyers are able to navigate and avoid this outcome through any number of trusts or special partnership arrangements. How often do we? actually see businesses liquidating in order to meet an estate tax burden?
I just want people to have healthcare, man.
Open up your checkbook and start paying for people's premiums then. Don't burden everyone else with your values.
I think it's the ongoing assault on the middle class
People who own businesses, worth millions, are not middle class.
Have you ever made your own money, or have you always lived off others?
Ironic considering the subject of the thread.
Who cares? That clearly has no value. If it did, you guys wouldn’t be sobbing over exactly how much the children of millionaires should inherit.
Obviously you failed economics, because you lack little to no understanding of how a business operates. Say Dad passes away from his manufacturing company, and said company is now valued minus liabilities at roughly $6.5 million dollars. If dad founded said company, then you are looking at a capital return of $6.5 million in value. If you tax 50%, that creates a tax bill of $3.25 million. Do you think the business has reserves in place for that kind of bill? So what can the kid's do? Sell the business, or liquidate a large portion of the company's assets (machines, supplies, inventory) to cover the cost. In essence, the government takes a soundly ran family owned business, and turns it into a shell of it's former self. More often enough liquidating the business into bankruptcy or forcing a quick sell to a conglomerate. Which then restricts competitions, and helps create an oligopoly in even more segments of the economy. Great thought process genius. Now I can see why you hate standardized testing so much.
The Kobes of the world, who want to turn everything into a commune, aside, I think most agree that this is a shitty scenario that we should structure any estate tax law to avoid.
And as far as I know most succession and estate planning lawyers are able to navigate and avoid this outcome through any number of trusts or special partnership arrangements. How often do we? actually see businesses liquidating in order to meet an estate tax burden?
I just want people to have healthcare, man.
Open up your checkbook and start paying for people's premiums then. Don't burden everyone else with your values.
Comments
Done.
We have a record percentage of the US population not paying taxes this year. Instead of getting these waste of space shitbags back to work, the government decides to double tax hardworking families. Seems like a bold strategy.
And as far as I know most succession and estate planning lawyers are able to navigate and avoid this outcome through any number of trusts or special partnership arrangements. How often do we? actually see businesses liquidating in order to meet an estate tax burden?
That's why I'm questioning just how salient your scenario is. It sounds bad, but it's not in the spirit of the estate tax that people advocate for, and in practice I'm not convinced that this is actually occurring at a level we should be concerned about.
But I get it … in your world healthcare is a universal benefit provided by the government
I’m also never going to convince people that think Biden is a Marxist to be socialists so if I’m talking like a socialist, it’s just to piss them off.