Text 3184, 108 rader
Skriven 2006-07-03 14:07:00 av Robert E Starr JR (3657.babylon5)
Ärende: Re: Atheists: America's m
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* * * This message was from Dennis \(Icarus\) to rec.arts.sf.tv.babylon5.m * *
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"Josh Hill" <usereplyto@gmail.com> wrote in message
news:nirga2tp1p6kdmlte99skc72948qcg1ea8@4ax.com...
> On Sun, 2 Jul 2006 19:34:51 -0500, "Dennis \(Icarus\)"
> <ala_dir_diver@yahoo.com> wrote:
>
> >
> >"Josh Hill" <usereplyto@gmail.com> wrote in message
> >news:ffjga295ri9tl9b9rqa2f8u09hv08r4s8u@4ax.com...
>
> >And as I said, the financial and insurance industry opposes repeal.
>
> So why not eliminate the loopholes and screw them? Seems to me a good
> starting point would be eliminating the loopholes and taxing estates
> over $3 million at the same rate as earned income.

So you want to screw the rich kids, and screw the financial planners too.

Why exempt the first $3 million?

> >
> >So why not just make the minimum wage $100,000.00 a year?
> >:-)
>
> That would be great from the point of view of trickle-down economics!
>
> But seriously, the way I look at it is that with a /per capita/ income
> of something like $40,000 a year, we can afford to elevate working
> people above the poverty line . . .

So what is the minimum wage you'd like to see?
$100,000 is apparently too much.

>
> >> > If you inherit a company (a dry cleaner, a farm, a car dealership,
etc.)
> >> >you may still work your rear-end off because the business means
something
> >to
> >> >you and you want to pass it on to your kids.  If the average person
> >should
> >> >have that right, the  rich should too.
> >>
> >> They do: no one is suggesting confiscatory taxation. And I don't see
> >> how a comparison to the average person is valid here: the average
> >> person gets taxed on the money he earns. Why should a rich heir not
> >> get taxed on the money he gets but did nothing to earn? Apart from
> >> clipping coupons, that is. I don't see even a hint of fairness here.
> >
> >Because gains in stock do not happen until they're sold.
> >The gains in bonds do not happen until they're redeemed.
> >Money in banks accrue interest, which is taxed.
> >Dividends gained through stocks are taxed.
>
> Which is another problem: the working stiff pays money on what he
> earns, while the rich guy has no liability until he cashes in. There
> are economic arguments for that, but I don't think they're in play
> right now.

Actually, there are, because its not a gain (or loss) until sold.
If I buy 100 shares of Google at $477 a share, and its currently 419 a
share, I can't deduct the loss, right?
If the next year its at 380 a share, do I get to deduct that loss as well?
From 477 or 419?

If I buy 100 shares in a compay at 100, it goes up to 256, then I sell when
its dropped to 50, do I poay taxes on the unrealied gain then deduct the
realized loss?

<snip>
> >
> >And you know they don't work because.....?
> >:-)
> >If they were working in the family business, then they shoudl still be
> >taxed, even though they have jobs?
>
> They're taxed on their salaries, aren't they?

Yes, they are.

>
> Inheritance is just income. I can understand, having grown up in a
> family that owned a business, the desire to keep a business within the
> family, but that doesn't change the fact that you're getting something
> of worth.

Not necessarily "just income" - transfer of ownership of assets.
The cost basis for the inheritors is "stepped up" to the current market
value. Apparently this was done to simplify bookkeeping - trying to track
down the basis of decades-old property could be difficult.
If the business was sold, then it'd become income - taxable based on the
profit (or loss) of the sale value from the cost basis. At least thats my
understanding.

Dennis


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