Family owned businesses now will give half to the gov't upon death of the founder?

DerekJohnson

https://www.youtube.com/watch?v=qGXKkebU124

doogie

This has to be from he Life Insurance Lobby.

DerekJohnson

doogie said:

This has to be from he Life Insurance Lobby.

I think it's the ongoing assault on the middle class

TheKobeStopper

DerekJohnson said:

doogie said:

This has to be from he Life Insurance Lobby.

I think it's the ongoing assault on the middle class

People who own businesses, worth millions, are not middle class.

DerekJohnson

TheKobeStopper said:

DerekJohnson said:

doogie said:

This has to be from he Life Insurance Lobby.

I think it's the ongoing assault on the middle class

People who own businesses, worth millions, are not middle class.

You think all small business owners are worth millions? Then you are brainwashed by Marxists.

DerekJohnson

TheKobeStopper said:

DerekJohnson said:

doogie said:

This has to be from he Life Insurance Lobby.

I think it's the ongoing assault on the middle class

People who own businesses, worth millions, are not middle class.

And you're implying that if someone built up a business to be worth millions, that it's okay for the government to seize half? Think about what you're saying.

BleachedAnusDawg

@TheKobeStopper

"You didn't build that."

ntxduck

Love to live my life in fear and anger about hypothetical scenarios I make up in my head

DerekJohnson

ntxduck said:

Love to live my life in fear and anger about hypothetical scenarios I make up in my head

It's written in the bill.

Swaye

DerekJohnson said:

TheKobeStopper said:

DerekJohnson said:

doogie said:

This has to be from he Life Insurance Lobby.

I think it's the ongoing assault on the middle class

People who own businesses, worth millions, are not middle class.

And you're implying that if someone built up a business to be worth millions, that it's okay for the government to seize half? Think about what you're saying.

He has though about it. His position is yes, the government is entitled to half of your work, even though you paid taxes on it already during your life once, once you die. To redistribute as they see fit. APAG, and many others like him, are 100% on board with this. So much for the American Dream.

greenblood

It won't stop there. Went to Walmart the other day to by some DEF fluid, and 5pm on a Thursday, there was only one check stand open and everything else was self checkout. I would guess that there were maybe 5 employees total working the floor (counting the two working checkout).

People are refusing to work until they get a "fair" wage. Unfortunately, for these morons, their definition of a "fair" wage is about 30%-40% more than what the market will pay. Expect to see more and more of these businesses to find ways to do more with less staff, and these people waiting for a "fair" wage will wait themselves into welfare and homelessness. Then with fewer tax payers and more Kobe's sucking up resources, taxes will need to jump into the 50's, or the government will be forced to default, which it won't do.

PostGameOrangeSlices

DerekJohnson said:

TheKobeStopper said:

DerekJohnson said:

doogie said:

This has to be from he Life Insurance Lobby.

I think it's the ongoing assault on the middle class

People who own businesses, worth millions, are not middle class.

You think all small business owners are worth millions? Then you are brainwashed by Marxists.

You needed this comment to know that APAG is a naive malcontent who thinks the government needs to regulate his well being?

Tequilla

TheKobeStopper said:

DerekJohnson said:

doogie said:

This has to be from he Life Insurance Lobby.

I think it's the ongoing assault on the middle class

People who own businesses, worth millions, are not middle class.

Even if they are worth millions ... FUCK OFF

greenblood

TheKobeStopper said:

DerekJohnson said:

doogie said:

This has to be from he Life Insurance Lobby.

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?

TheKobeStopper

greenblood said:

TheKobeStopper said:

DerekJohnson said:

doogie said:

This has to be from he Life Insurance Lobby.

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.

TheKobeStopper

DerekJohnson said:

TheKobeStopper said:

DerekJohnson said:

doogie said:

This has to be from he Life Insurance Lobby.

I think it's the ongoing assault on the middle class

People who own businesses, worth millions, are not middle class.

You think all small business owners are worth millions? Then you are brainwashed by Marxists.

I can’t tell if you’re being intentionally dishonest or you’re just misinformed here but, yes, everyone subject to the estate tax is worth millions.

greenblood

TheKobeStopper said:

greenblood said:

TheKobeStopper said:

DerekJohnson said:

doogie said:

This has to be from he Life Insurance Lobby.

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.

Tequilla

greenblood said:

TheKobeStopper said:

greenblood said:

TheKobeStopper said:

DerekJohnson said:

doogie said:

This has to be from he Life Insurance Lobby.

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 one thing you’re missing in this is that a business like this is one that likely is operating on a working line of credit at most but to satisfy the tax burden would either need to leverage either the business with debt or themselves with debt to keep the business afloat

People like Kobe don’t understand that small family owned businesses (particularly ones that pass from generation to generation) are foundational elements of this country

greenblood

Tequilla said:

greenblood said:

TheKobeStopper said:

greenblood said:

TheKobeStopper said:

DerekJohnson said:

doogie said:

This has to be from he Life Insurance Lobby.

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 one thing you’re missing in this is that a business like this is one that likely is operating on a working line of credit at most but to satisfy the tax burden would either need to leverage either the business with debt or themselves with debt to keep the business afloat

People like Kobe don’t understand that small family owned businesses (particularly ones that pass from generation to generation) are foundational elements of this country

Very good point. Definitely missed that

Tequilla

greenblood said:

Tequilla said:

greenblood said:

TheKobeStopper said:

greenblood said:

TheKobeStopper said:

DerekJohnson said:

doogie said:

This has to be from he Life Insurance Lobby.

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 one thing you’re missing in this is that a business like this is one that likely is operating on a working line of credit at most but to satisfy the tax burden would either need to leverage either the business with debt or themselves with debt to keep the business afloat

People like Kobe don’t understand that small family owned businesses (particularly ones that pass from generation to generation) are foundational elements of this country

Very good point. Definitely missed that

Your primary point is that Kobe is clueless and supports whatever gives money to those that haven’t earned it

whatshouldicareabout

When this finance board was orphaned the first time, did Creepycoug's will pay the govt?