hoyajinx
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Post by hoyajinx on Aug 30, 2019 12:12:04 GMT -5
Let’s just keep taking from those who produce... Dead people produce very little. Is it safe to assume you don’t have kids?
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hoya9797
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Post by hoya9797 on Aug 30, 2019 13:13:04 GMT -5
Dead people produce very little. Is it safe to assume you don’t have kids? I do have kids and I don't think they are entitled to be rich adults if I and their mother are rich. They will benefit along the way and will have a massive head start which I hope they use to their advantage. But they'd better not layabout Editeds waiting for me to die so they can get some sort of inheritance. If it appears that they are waiting to live off my money, the day I die is going to be doubly painful because I'll be gone and they'll find out that they aren't getting a thing from me. I really hope that they are very far into their adult lives before any of this happens. And, if I die young while they are still kids, I've got a lot of life insurance so they'll be fine.
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Elvado
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Post by Elvado on Aug 30, 2019 13:27:41 GMT -5
Is it safe to assume you don’t have kids? I do have kids and I don't think they are entitled to be rich adults if I and their mother are rich. They will benefit along the way and will have a massive head start which I hope they use to their advantage. But they'd better not layabout Editeds waiting for me to die so they can get some sort of inheritance. If it appears that they are waiting to live off my money, the day I die is going to be doubly painful because I'll be gone and they'll find out that they aren't getting a thing from me. I really hope that they are very far into their adult lives before any of this happens. And, if I die young while they are still kids, I've got a lot of life insurance so they'll be fine. With that approach to parenting who says the day you go will be painful at all?
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hoyajinx
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Post by hoyajinx on Aug 30, 2019 13:38:35 GMT -5
Is it safe to assume you don’t have kids? I do have kids and I don't think they are entitled to be rich adults if I and their mother are rich. They will benefit along the way and will have a massive head start which I hope they use to their advantage. But they'd better not layabout Editeds waiting for me to die so they can get some sort of inheritance. If it appears that they are waiting to live off my money, the day I die is going to be doubly painful because I'll be gone and they'll find out that they aren't getting a thing from me. I really hope that they are very far into their adult lives before any of this happens. And, if I die young while they are still kids, I've got a lot of life insurance so they'll be fine. Fair enough. But I’m sure you realize that not everyone has this mentality, and it doesn’t necessarily make it wrong that people would like to make use of their hard earned money and pass it on to their kids. This is especially true for those people who feel they have sacrificed time with their children and families to help leave a legacy for the next generation or even their grandchildren. Depending on the taxation thresholds that are being discussed, some solidly middle class families could be affected by these taxes, those well short of being “rich” (a notion that is subjective on its face). Whether any of this is wrong or right is certainly up for debate, but it’s not difficult to see why people would care about what happens after they die, as I’ve seen you question a few times in this thread. As with your life insurance, piece of mind during your life that your kids won’t struggle to make ends meet after you pass can help mitigate some financial concern. I don’t make this argument for the obscenely wealthy who would like to have their wealth passed on in near perpetuity with generations of descendants being “layabouts”.
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EtomicB
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Post by EtomicB on Aug 30, 2019 14:17:35 GMT -5
Let’s just keep taking from those who produce... Are you really talking about folks who produce in a thread about capital gains tax? LOL, too funny...
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Elvado
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Post by Elvado on Aug 30, 2019 14:55:33 GMT -5
Let’s just keep taking from those who produce... Are you really talking about folks who produce in a thread about capital gains tax? LOL, too funny... Absolutely. I work to earn enough to pay my bills and invest for my family's future. I take care of my properties so they appreciate in value. And I resent the hell out of the idea that the government wants to grab more taxes off that appreciation.
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tashoya
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Post by tashoya on Aug 30, 2019 16:11:51 GMT -5
Are you really talking about folks who produce in a thread about capital gains tax? LOL, too funny... Absolutely. I work to earn enough to pay my bills and invest for my family's future. I take care of my properties so they appreciate in value. And I resent the hell out of the idea that the government wants to grab more taxes off that appreciation. By that line of thinking, do you also "resent the hell" out of banks since they don't offer any real interest rates on savings accounts any longer? Or are appreciating assets only for those who earn a certain amount?
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Elvado
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Post by Elvado on Aug 30, 2019 16:14:55 GMT -5
Absolutely. I work to earn enough to pay my bills and invest for my family's future. I take care of my properties so they appreciate in value. And I resent the hell out of the idea that the government wants to grab more taxes off that appreciation. By that line of thinking, do you also "resent the hell" out of banks since they don't offer any real interest rates on savings accounts any longer? Or are appreciating assets only for those who earn a certain amount? The difference is I don’t have to have a savings account . I can’t opt out of confiscatory taxes
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EtomicB
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Post by EtomicB on Aug 30, 2019 17:31:16 GMT -5
Are you really talking about folks who produce in a thread about capital gains tax? LOL, too funny... Absolutely. I work to earn enough to pay my bills and invest for my family's future. I take care of my properties so they appreciate in value. And I resent the hell out of the idea that the government wants to grab more taxes off that appreciation. Ohh, ok... I figured you were giving us the right leaning talking points of how the “government” holds down the “job creators” with excessive taxes... If this is the description of a producer then this country has a very large population of producers right? Do you resent the government wanting more taxes from corporations too?
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tashoya
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Post by tashoya on Aug 30, 2019 18:54:31 GMT -5
By that line of thinking, do you also "resent the hell" out of banks since they don't offer any real interest rates on savings accounts any longer? Or are appreciating assets only for those who earn a certain amount? The difference is I don’t have to have a savings account . I can’t opt out of confiscatory taxes Which properties can't you opt out of owning?
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EtomicB
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Post by EtomicB on Sept 1, 2019 13:08:42 GMT -5
www.nytimes.com/2019/08/31/business/tax-opportunity-zones.htmlPresident Trump has portrayed America’s cities as wastelands, ravaged by crime and homelessness, infested by rats.
But the Trump administration’s signature plan to lift them — a multibillion-dollar tax break that is supposed to help low-income areas — has fueled a wave of developments financed by and built for the wealthiest Americans.The stated goal of the tax benefit — tucked into the Republicans’ 2017 tax-cut legislation — was to coax investors to pump cash into poor neighborhoods, known as opportunity zones, leading to new housing, businesses and jobs.
The initiative allows people to sell stocks or other investments and delay capital gains taxes for years — as long as they plow the proceeds into projects in federally certified opportunity zones. Any profits from those projects can avoid federal taxes altogether.“The audience for opportunity zones is inherently fairly small because it’s limited to capital-gains income, which is why I wanted to come and talk to this group,” he told the room of advisers.
That audience is small indeed: Only 7 percent of Americans report taxable capital gains, and nearly two-thirds of that income was reported by people with a total annual income of $1 million or more, according to I.R.S. data.Keep trying to see the "assault on the middle-class narrative" Smh...
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