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Family owned businesses now will give half to the gov't upon death of the founder?
Comments
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It's hard to tell where your trolling ends, and your serious calls for seizing the means of production begins.TheKobeStopper said:
I just want people to have healthcare, man.GreenRiverGatorz said:
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.greenblood said:
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.TheKobeStopper said:
Ironic considering the subject of the thread.greenblood said:
Have you ever made your own money, or have you always lived off others?TheKobeStopper said:
People who own businesses, worth millions, are not middle class.DerekJohnson said:
I think it's the ongoing assault on the middle classdoogie said:This has to be from he Life Insurance Lobby.
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.
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? -
So let’s eliminate jobs that provide healthcareTheKobeStopper said:
I just want people to have healthcare, man.GreenRiverGatorz said:
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.greenblood said:
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.TheKobeStopper said:
Ironic considering the subject of the thread.greenblood said:
Have you ever made your own money, or have you always lived off others?TheKobeStopper said:
People who own businesses, worth millions, are not middle class.DerekJohnson said:
I think it's the ongoing assault on the middle classdoogie said:This has to be from he Life Insurance Lobby.
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.
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?
But I get it … in your world healthcare is a universal benefit provided by the government -
Certain restrictions may applyTequilla said:
So let’s eliminate jobs that provide healthcareTheKobeStopper said:
I just want people to have healthcare, man.GreenRiverGatorz said:
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.greenblood said:
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.TheKobeStopper said:
Ironic considering the subject of the thread.greenblood said:
Have you ever made your own money, or have you always lived off others?TheKobeStopper said:
People who own businesses, worth millions, are not middle class.DerekJohnson said:
I think it's the ongoing assault on the middle classdoogie said:This has to be from he Life Insurance Lobby.
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.
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?
But I get it … in your world healthcare is a universal benefit provided by the government -
I’ve said repeatedly, America will not be socialist in my lifetime and may very well never be socialist.GreenRiverGatorz said:
It's hard to tell where your trolling ends, and your serious calls for seizing the means of production begins.TheKobeStopper said:
I just want people to have healthcare, man.GreenRiverGatorz said:
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.greenblood said:
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.TheKobeStopper said:
Ironic considering the subject of the thread.greenblood said:
Have you ever made your own money, or have you always lived off others?TheKobeStopper said:
People who own businesses, worth millions, are not middle class.DerekJohnson said:
I think it's the ongoing assault on the middle classdoogie said:This has to be from he Life Insurance Lobby.
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.
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’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. -
Who thinks Biden is a Marxist?
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@DerekJohnsonRaceBannon said:Who thinks Biden is a Marxist?
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Low tweak
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Open up your checkbook and start paying for people's premiums then. Don't burden everyone else with your values.TheKobeStopper said:
I just want people to have healthcare, man.GreenRiverGatorz said:
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.greenblood said:
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.TheKobeStopper said:
Ironic considering the subject of the thread.greenblood said:
Have you ever made your own money, or have you always lived off others?TheKobeStopper said:
People who own businesses, worth millions, are not middle class.DerekJohnson said:
I think it's the ongoing assault on the middle classdoogie said:This has to be from he Life Insurance Lobby.
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.
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? -
You think TKS has money in a checking account? 😂Fenderbender123 said:
Open up your checkbook and start paying for people's premiums then. Don't burden everyone else with your values.TheKobeStopper said:
I just want people to have healthcare, man.GreenRiverGatorz said:
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.greenblood said:
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.TheKobeStopper said:
Ironic considering the subject of the thread.greenblood said:
Have you ever made your own money, or have you always lived off others?TheKobeStopper said:
People who own businesses, worth millions, are not middle class.DerekJohnson said:
I think it's the ongoing assault on the middle classdoogie said:This has to be from he Life Insurance Lobby.
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.
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?
