WHAT? This argument means you have to pay BOTH!
No, because the repeal of the estate tax would change the way capital gains are taxed.
Please...Wesley...why can't I stay?
Fred ,'A Hole in the World'
Natter 37: Oddly Enough, We've Had This Conversation Before.
Off-topic discussion. Wanna talk about corsets, duct tape, or physics? This is the place. Detailed discussion of any current-season TV must be whitefonted.
tommyrot - Jul 27, 2005 6:58:08 am PDT #3184 of 10002
Sir, it's not an offence to let your cat eat your bacon. Okay? And we don't arrest cats, I'm very sorry.
-t - Jul 27, 2005 6:58:14 am PDT #3185 of 10002
I am a woman of various inclinations and only some of the time are they to burn everything down in frustration
Oh yay! Lucy crawled under my bed this morning and I was thinking of you. (My bed has about a foot of clearance, so not such a thing.)
It';s funny, Walter still has the habit of poking his nose out to see if we'll lift up the bed for him, even though he can easily get out on his own. But so much happier.
My thinking on the estate tax is mostly informed by a murder mystery I read (this applies to so much in my life). My understanding is that the basic idea is that the wealth/property/capital should be generating enough revenue to make the tax not much of a burden and if it isn't than the inheritors aren't fit stewards anyway. I kind of like this idea, but I am vaguely pro redistribution of wealth and understand that not everyone is, so I wouldn't argue that the estate tax is absolutely good. I will say that I like it. However, if it is repealed and that increases any net inheritance I may receive, I doubt I will refusing that extra money.
So, on balance, whatever.
DXMachina - Jul 27, 2005 6:59:20 am PDT #3186 of 10002
You always do this. We get tipsy, and you take advantage of my love of the scientific method.
Dude, I want my parents' money. Okay, by the time they die (which will never happen, nosirree) I hope to have plenty of my own, but inheritance has always been a default assumption of western culture, hasn't it?
Right, what's the point of building up an estate if you can't pass it along to your children?
Gudanov - Jul 27, 2005 7:00:13 am PDT #3187 of 10002
Coding and Sleeping
I think it kicks in at a million dollars, which I think is too low. But very few people inherit that much as it is.
Vortex - Jul 27, 2005 7:00:35 am PDT #3188 of 10002
"Cry havoc and let slip the boobs of war!" -- Miracleman
5. Washington/Baltimore
HA! and may I say again HA! but, they may not be saying that it's the best place for singles to meet people, it may be saying that DC is a good place to be single, which I would not disagree with.
ita, depends on the country, where the will is probated, and, in some cases, the location of the asset.
Fred Pete - Jul 27, 2005 7:00:47 am PDT #3189 of 10002
Ann, that's a ferret.
ita, don't know the details on inheritance. But U.S. federal income tax gives you a credit for taxes paid to foreign countries. Saves me about 10 bucks a year (I have shares in a mutual fund that invests in foreign stocks).
Topic!Cindy - Jul 27, 2005 7:04:20 am PDT #3190 of 10002
What is even happening?
Not to revel in your pain, but Fifth Disease. Cracks. Me. Up.
It's the one bright spot. I never made the connection until tiggy noted it in my LJ. Soon after, I started saying, "FEAR ME" wherever I went, and still not making the connection until this morning.
My knees and feet are now more affected than my hands. Sadly, this makes me walk funny, and I've pulled, or somehow angered a calf muscle, which makes me have to walk funny, which is hurting my heels. My sneakers are in Maine, I think, because the five of us can't find them anywhere. My sandals make my feet worse. /whingey whingey babypants
Right, what's the point of building up an estate if you can't pass it along to your children?This is how I feel. It just seems wrong. If I've been paying taxes on my money all my life, and managed to invest what I could wisely, well goody for me. That stuff is mine. The money that bought it has already been taxed and I'm a damned broken record. Shutting up, now.
Cashmere - Jul 27, 2005 7:05:38 am PDT #3191 of 10002
Now tagless for your comfort.
My knees and feet are now more affected than my hands. Sadly, this makes me walk funny, and I've pulled, or somehow angered a calf muscle, which makes me have to walk funny, which is hurting my heels. My sneakers are in Maine, I think, because the five of us can't find them anywhere. My sandals make my feet worse. /whingey whingey babypants
egad. This just keeps on with the craptasticness, doesn't it.
tommyrot - Jul 27, 2005 7:06:12 am PDT #3192 of 10002
Sir, it's not an offence to let your cat eat your bacon. Okay? And we don't arrest cats, I'm very sorry.
If I've been paying taxes on my money all my life, and managed to invest what I could wisely, well goody for me. That stuff is mine. The money that bought it has already been taxed and I'm a damned broken record.
Well, as long as you're not a multimillionaire, then it won't be taxed.
Topic!Cindy - Jul 27, 2005 7:07:08 am PDT #3193 of 10002
What is even happening?
I think it kicks in at a million dollars, which I think is too low. But very few people inherit that much as it is.
Honestly, I think that depends on where people live, and the population is much denser in areas where real estate prices are much higher. Seriously, my parents bought their house in '65 for less than 17K. My mother sold it after it being on the market 2 hours, for 480K. Her realtor told her not to accept it, and hold out for more, but she hates the marketing aspect of selling a house--having to keep it picture perfect and vacate at a moment's notice for a prospective seller. She just wanted it done.