masterrig

Oh! You're back on that, huh? I wondered how long it would take. Chuck

At 55%, it will be. Disagree. Taxes are not theft. Tax evasion is theft. Double taxation is theft... unless the government does it! Chuck

At 55%, it will be. You got it!! Chuck Taxes pay off the deficit which otherwise affects everyones' children. Taxes can destroy a small, family business, too!! By the way, you answered my earlier question. Chuck

At 55%, it will be. You got it!! Chuck

I understand it just fine. That the inheritance is non-liquid assets is irrelevant. Taxes should still be paid. It certainly isn't "theft by our government." The government isn't getting enough through property taxes? Taxes that are paid annually, not to mention income tax? Boils down to nothing more than 'legal theft'. Chuck

Some do incorporate. Each farmer or rancher handles his business the way he sees fit for him. Chuck

More than likely, from their parents by purchasing it. They bought it to keep it in the family and because they love the work and lifestyle. Chuck

That's hardly a small inheritance. I don't feel a bit bad about expecting inheritors to pay a tax on their windfall. A $5 million exemption is more than generous. What you and too many others don't seem to understand is, that money is tied-up in land, machinery and structures. Did you miss the part where I said they only get one paycheck a year, when they sell their crops or cattle and that goes to paying for medications, for livestock over the past year, seed for planting, fuel, machinery repairs and maintenance, taxes on their land and home, and loan payments. That's what the person inheriting that ranch or farm gets to pay inheritance tax on. The inheritance tax to me is nothing more than theft by our government. All the taxes have been paid over the years and the government wants more. That's what farmers and ranchers do just to keep you and the rest of this country fed. Chuck

No. That's t the way it is. They've been feeding you and the rest of this country since the Pilgrims. They happen to love what they do and will do what it takes. Good, bad or otherwise. Chuck

These are far too many facts, Chuck. Stop it. He asked... Chuck

That sounds fair, provided the kids pay tax on theirincome like anyone else would have to. Of course, applying theinheritance taxinstead of theincome tax allows those kids to get a large chunk of thatinheritance/income tax free, with only the remainder being taxed. My original point was theinheritance tax hurts the small family farms and ranches. The kids can't afford theinheritance tax and have to sell the family operation to pay the tax. Which means fewer sources for food for this country. Currently, the first $5 million of aninheritance is exempt from the estate tax. That isn't hurting small family farms and ranches. A small ranch runs usually 5,000 to 10,000 acres. At the going raqte of $3,00 t0 $3500 an acre... plus cattle, eequipment, house, barns, water wells and etc. Do the math. Chuck Sorry, but I find it hard to feel sorry for someoneinheriting a $35,000,000property who whines about paying their tax. What? That'sin realproperty, not cash money!! That's not what'sin their bank account! C'mon man. They would have to sell-off too much to pay the tax. You need to visit with some farmers and ranchers. Chuck There are always banks who will make loans to viable businesses. If not profitable enough, maybe the farm should be sold. Well, that would mean a goodly number of farms right there in your back-yard considering the drought the mid-west and Oklahoma andTexas are going through. Crops haven't been re-planted after the early spring rains up in your country and the mid-west and now, above normal temperatures and no rain. That doesn't make for viable farming or ranching. Just higher prices at the market. Consider also the fact that farmers and ranchers get only ONE paycheck a year, no crop, no pay... show me a bank who is going to loan money at those odds!! Chuck

That sounds fair, provided the kids pay tax on their income like anyone else would have to. Of course, applying the inheritance tax instead of the income tax allows those kids to get a large chunk of that inheritance/income tax free, with only the remainder being taxed. My original point was the inheritance tax hurts the small family farms and ranches. The kids can't afford the inheritance tax and have to sell the family operation to pay the tax. Which means fewer sources for food for this country. Currently, the first $5 million of an inheritance is exempt from the estate tax. That isn't hurting small family farms and ranches. A small ranch runs usually 5,000 to 10,000 acres. At the going raqte of $3,00 t0 $3500 an acre... plus cattle, eequipment, house, barns, water wells and etc. Do the math. Chuck Sorry, but I find it hard to feel sorry for someone inheriting a $35,000,000 property who whines about paying their tax. What? That's in real property, not cash money!! That's not what's in their bank account! C'mon man. They would have to sell-off too much to pay the tax. You need to visit with some farmers and ranchers. Chuck

Surely those worthy, wealthy "JOB CREATORS" wouldn't stoop to be job destroyers. (Oh yes, they certainly would. Then they stash their extra cash in the Cayman Islands.) Bottom line... GREED! They don't want to earn their billions over time, they want it NOW. Chuck

That sounds fair, provided the kids pay tax on their income like anyone else would have to. Of course, applying the inheritance tax instead of the income tax allows those kids to get a large chunk of that inheritance/income tax free, with only the remainder being taxed. My original point was the inheritance tax hurts the small family farms and ranches. The kids can't afford the inheritance tax and have to sell the family operation to pay the tax. Which means fewer sources for food for this country. Chuck Only a minority of 'kids' will want to carry on with the farm. Most will want/find some other sort of livelihood. Same as the kids of doctors don't all become doctors. Only a minority do. Seems, that's with anyone, truck drivers, college proffessors and so-on. With the inheritance tax staring them in the face, there are too many who can't pay it and have to sell. 1% of the U.S. population feeds 100% of the U.S. population. The inheritance tax is helping to reduce that 1%. Besides, from your original post your statement was in opposition to the inheritance. From your last statement to me, it appears otherwise. So, which is it? Chuck

That sounds fair, provided the kids pay tax on their income like anyone else would have to. Of course, applying the inheritance tax instead of the income tax allows those kids to get a large chunk of that inheritance/income tax free, with only the remainder being taxed. My original point was the inheritance tax hurts the small family farms and ranches. The kids can't afford the inheritance tax and have to sell the family operation to pay the tax. Which means fewer sources for food for this country. Currently, the first $5 million of an inheritance is exempt from the estate tax. That isn't hurting small family farms and ranches. A small ranch runs usually 5,000 to 10,000 acres. At the going raqte of $3,00 t0 $3500 an acre... plus cattle, eequipment, house, barns, water wells and etc. Do the math. Chuck

Not to mention those that take care of their ill or dying parents for years often times sacrificing their professional lives in the process. Yup they certainly don't deserve a dime that their parents wish to leave them with. This is a ridiculous concept. Should my children have to pay taxes on a car I buy them, or the money I give them to pay for college? How is this any different? They certainly didn't earn anything I chose to buy for them or give to them. Believe me these things I mentione above, by many children would be considered an elitist unearned luxury. I certainly didn't have any of the above given to me as a child, so by that standard all these kids whose parents provided everything for them should be taxed extra, right? Its only fair? To me, if someone wants to work hard amass a fortune and it is their desire to leave it all to the kids, they should be able to without penalty. Also, the tax has all ready been paid on it all through city, county and income taxes. Chuck The old "the money has already been taxed" fallacy. Money doesn't pay tax, people do. Pretty much any time money changes hands in a financial transaction (income, sales, capital gains...) a tax is due. The heirs should pay tax on an inheritance just as if it were any other form of financial transaction. I understand that. It's like guns don't kill people... people kill people. (sneaky of me to get guns in there, huh?) Seriously, to be honest, I really don't care about those folks who won the lottery and got hundreds of millions amassed or the guy that played the stock market. My concern is how the inheritance tax is hurting family farms and ranches. Most of them are working on a shoe-string budget and hip-deep in debt, trying to feed this country. Then, the inheritance tax comes along and the family is forced to sell. Usually to some land speculator. That's the reality. I know, city folks love their meat and vegatables so, why is our government hurting them more, with another tax? William Jennings Bryan said; "Burn your cities and they will come back. Burn your farms and the cities will dis-appear." Chuck

That sounds fair, provided the kids pay tax on their income like anyone else would have to. Of course, applying the inheritance tax instead of the income tax allows those kids to get a large chunk of that inheritance/income tax free, with only the remainder being taxed. My original point was the inheritance tax hurts the small family farms and ranches. The kids can't afford the inheritance tax and have to sell the family operation to pay the tax. Which means fewer sources for food for this country. Chuck

Not to mention those that take care of their ill or dying parents for years often times sacrificing their professional lives in the process. Yup they certainly don't deserve a dime that their parents wish to leave them with. This is a ridiculous concept. Should my children have to pay taxes on a car I buy them, or the money I give them to pay for college? How is this any different? They certainly didn't earn anything I chose to buy for them or give to them. Believe me these things I mentione above, by many children would be considered an elitist unearned luxury. I certainly didn't have any of the above given to me as a child, so by that standard all these kids whose parents provided everything for them should be taxed extra, right? Its only fair? To me, if someone wants to work hard amass a fortune and it is their desire to leave it all to the kids, they should be able to without penalty. Also, the tax has all ready been paid on it all through city, county and income taxes. Chuck

The minimum wage should be increased. No! Chuck Yes! Brrrraaaaaaaaaaaaaaaaaaappp Wrong Answer!! Have you considered the 'small business' that is gradually growing. Help is needed but the business owner can't quite afford $12.00 -$25.00 an hr. He can get help at minnimum wage. As his business grows, he can afford raises and so it goes. The economy grows. Chuck

Who cares???????????? Chuck Hey, as per InternetSlang, it's LoveSick! This guy needs help I thought it was 'Lower Slobovia'. We don't know where he's at, either! Chuck

Certainly not by getting an unearned inheritance. It sounds to me like you are jealous because you didn't get one and you know some who did. The terms envy and convetousness come to mind. On thebright side... venting on a social network is better than blowing-up government buildings! On the other hand, sometimes it's a precursor... Oh yeah. Or worse!! Chuck

Just another case of The Man keepin' us dowwwwwn! Chuck

The minimum wage should be increased. No! Chuck Why not? Simply mandate that every job pays at least $100 an hour and EVERYONE is happy! Workers have bunches of money, the tax base is sufficient to cover our expenses - what's the down side? For a hunnerd bucks an hour... I'll take one of those jobs! Then, I could afford health and dental insurance! Yeah, like that's gonna happen! Chuck

Certainly not by getting an unearned inheritance. It sounds to me like you are jealous because you didn't get one and you know some who did. The terms envy and convetousness come to mind. On the bright side... venting on a social network is better than blowing-up government buildings! Chuck

Who cares???????????? Chuck