The election is over, we see the contours of what lies ahead for the next four years.

[trysail]

Let's make one thing clear here: YOU and your estate are not going to be subject to the estate tax. Period. End of story.

Attaboy. As if you know. Loud and wrong (again).


That's quite an M.O. you've adopted: make up facts to suit.

 

[RobDownSouth]

Attaboy. As if you know. Loud and wrong (again).


That's quite an M.O. you've adopted: make up facts to suit.

Got something to disprove my link?

Didn't think so.

Derp

 

[KyleW]

Let's make one thing clear here: YOU and your estate are not going to be subject to the estate tax. Period. End of story.

Only 52,500 taxpayers – or just under .02% of the nation’s population – are expected to have to pay the 55% federal estate tax in 2013.

LINK

Exactly. It's one of those issues where people scream about numbers and taxes that they don't have to pay.

From your link

Roughly 33,500 estates filed returns in 2009 but fewer than half—only 14,700—of those estates had to pay any estate tax at all. Estate tax liability totaled $20.6 billion.

Estates must file tax returns within nine months of the decedent’s death and taxable estates usu-ally wait as long as possible before filing. Thus, most returns filed in 2009 were for people dying in 2008 when the estate tax exemption was $2 million. About 2.4 million people died in that year; of those, only 1 in 73 generated an estate tax return and only 1 in 166 had to pay any es-tate tax.

The 2010 act also allowed estates of people dying in 2010 to choose between the 2010 law with no estate tax but with limited step-up in basis and the 2011-2012 law with a $5 million exemp-tion, 35 percent tax rate, and full step-up in basis1. For some estates, getting step-up in basis for all assets can make it worthwhile to pay some estate tax.

After a single year hiatus in 2010, the estate rate will return in 2011 with a $5 million exemption. TPC projects that 8,600 estate tax returns will be filed for people who died in that year, of which only 3,300 will owe estate tax totaling about $10.6 billion.

In 2013 the estate tax exemption will drop to $1 million and many more estates will have to file returns. TPC estimates that 114,600 estates of people dying that year will file estate tax returns and 52,500 of those estates will pay taxes totaling over $40 billion.

 

[trysail]

*noise*

Like Lyndon Johnson, you have an ability to believe whatever it is you choose to believe. It's a useful ability for con-artists, salespeople and politicians.

...For Lyndon Johnson, determination had to include belief.

He understood that all his life- as is shown by the fact that as a small boy "he was always repeating" the salesman's creed that "You've got to believe in what you're selling," and that decades later, in his retirement, he would say: "What convinces is conviction. You simply have to believe in the argument you are advancing: if you don't, you're as good as dead. The other person will sense that something isn't there..." And Lyndon Johnson could make himself believe in an argument even if he had never believed in it before, even if he had believed in an opposite argument- and even if the argument did not accord with the facts. A devotee like Joseph Califano would write that Johnson "would quickly come to believe what he was saying even if it was clearly not true."

When Lyndon Johnson came to believe in something, moreover, he came to believe in it totally, with absolute conviction, regardless of previous beliefs or of the facts in the matter, came to believe in it so absolutely that, George Reedy says, "I believe that he acted out of pure motives regardless of their origins. He had a remarkable capacity to convince himself that he held the principles he should hold at any given time, and there was something charming about the air of injured innocence with which he would treat anyone who brought forth evidence that he had held other views in the past. It was not an act... He had a fantastic capacity to persuade himself that the 'truth' which was convenient for the present was the truth and anything that conflicted with it was the prevarication of his enemies. He literally willed what was in his mind to become reality." Califano, listening to Johnson tell a story which Califano knew was not true, and which Califano knew that Johnson himself knew, or at least had known at one time, was not true, writes of "the authentic increase in the President's conviction each time he recited it." The phrase used to describe the process by long time Texas associates like Ed Clark- the "revving up" or the "working up"- was homier, but it was the same process: "He could start talking about something and convince himself it was right, and get all worked up, all worked up and emotional, and work all day and all night, and sacrifice, and say, 'Follow me for the cause! - let's do this because it's right." And, Clark says, Johnson would believe it was right- no matter what he had believed before...

-Robert A. Caro
The Years of Lyndon Johnson: Master of The Senate.
New York, 2002.​

As best I can tell, Lyndon Johnson was a congenital liar and cheat. He never won a fair election in his life, going all the way back to his third-rate college where he rigged his election as student body president. He cheated in virtually every election when he stood for public office. The most notorious was his 1948 election to the U.S. Senate where upwards of 10,000 ballots fraudulently submitted in Duval and Bexar Counties enabled his statewide victory margin of 87 votes.

 

[KyleW]

Got something to disprove my link?

Didn't think so.

Derp

Like Lyndon Johnson, you have an ability to believe whatever it is you choose to believe. It's a useful ability for con-artists, salespeople and politicians.




[/COLOR][/SIZE][/FONT][/B]

My guess would be it's time to change the subject.

 

[trysail]

... The new way is better.

Bend over.​

_________________

http://www.bloomberg.com/news/2012-12-12/aetna-ceo-sees-obama-health-law-doubling-some-premiums.html


Aetna CEO Sees Obama Health Law Doubling Some Premiums
By Alex Nussbaum
Dec 13, 2012

Health insurance premiums may as much as double for some small businesses and individual buyers in the U.S. when the Affordable Care Act’s major provisions start in 2014, Aetna Inc.’s chief executive officer said.

While subsidies in the law will shield some people, other consumers who make too much for assistance are in for “premium rate shock,” Mark Bertolini, who runs the third-biggest U.S. health-insurance company, told analysts yesterday at a conference in New York. The prospect has spurred discussion of having Congress delay or phase in parts of the law, he said.

“We’ve shared it all with the people in Washington and I think it’s a big concern,” the CEO said. “We’re going to see some markets go up as much as as 100 percent.”

 

[julybaby04]

Bend over.​

_________________

http://www.bloomberg.com/news/2012-12-12/aetna-ceo-sees-obama-health-law-doubling-some-premiums.html


Aetna CEO Sees Obama Health Law Doubling Some Premiums
By Alex Nussbaum
Dec 13, 2012

Maybe going with only catastrophic insurance is an option in the future.

 

[RobDownSouth]

See Trysail Derp. Derp, Trysail, Derp!

Like Lyndon Johnson, you have an ability to believe whatever it is you choose to believe. It's a useful ability for con-artists, salespeople and politicians.

-Robert A. Caro
The Years of Lyndon Johnson: Master of The Senate.
New York, 2002.​

As best I can tell, Lyndon Johnson was a congenital liar and cheat. He never won a fair election in his life, going all the way back to his third-rate college where he rigged his election as student body president. He cheated in virtually every election when he stood for public office. The most notorious was his 1948 election to the U.S. Senate where upwards of 10,000 ballots fraudulently submitted in Duval and Bexar Counties enabled his statewide victory margin of 87 votes.

So when I challenge you to disprove that only 52,000 Americans will pay the estate tax next year, your response is "But...but...Lyndon Johnson!"?



http://i.qkme.me/3qqc44.jpg

 

[phrodeau]

Like Lyndon Johnson, you have an ability to believe whatever it is you choose to believe. It's a useful ability for con-artists, salespeople and politicians.

Which type are you?

 

[RobDownSouth]

Maybe going with only catastrophic insurance is an option in the future.

Many parents who don't love their children (VatAss, for example) have already chosen that route.

 

[julybaby04]

Many parents who don't love their children (VatAss, for example) have already chosen that route.

Can you not love your children and go that route as well?

 

[trysail]

Let's make one thing clear here: YOU and your estate are not going to be subject to the estate tax. Period. End of story.

My god. You actually are an idiot. You clearly haven't the goddamndest idea in hell what you're talking about.

 

[RobDownSouth]

My god. You actually are an idiot. You clearly haven't the goddamndest idea in hell what you're talking about.

Got specifics? No, of course you don't. Just jibba-jabba

As I stated earlier, and provided a link to back up my claim, 99.98% of ALL Americans who die next year won't pay any estate tax.

But you've deluded yourself into thinking your estate would somehow qualify if you dirtnap.

 

[julybaby04]

Got specifics? No, of course you don't. Just jibba-jabba

As I stated earlier, and provided a link to back up my claim, 99.98% of ALL Americans who die next year won't pay any estate tax.

But you've deluded yourself into thinking your estate would somehow qualify if you dirtnap.

I didn't read your link...but a real question here.....

....how can the government know what each person has completely? Perhaps they have purchased things at auction or overseas or something like that, which the government will not know about, but yet will push the value of their estate over the limit. I truly am curious as to they know without a doubt that 99.98% who do pass away are not worth more than they think.

 

[trysail]

But you've deluded yourself into thinking your estate would somehow qualify if you dirtnap.

You're a funny guy. You opine on stuff that you demonstrably and obviously know nothing about.

 

[zipman]

You're a funny guy. You opine on stuff that you demonstrably and obviously know nothing about.

Actually, you're the one who doesn't know what you're talking about.

Congrats on keeping your record in tact.

 

[trysail]

*noise*

​

 

[RobDownSouth]

I didn't read your link...but a real question here.....

....how can the government know what each person has completely? Perhaps they have purchased things at auction or overseas or something like that, which the government will not know about, but yet will push the value of their estate over the limit. I truly am curious as to they know without a doubt that 99.98% who do pass away are not worth more than they think.

Very simple. You know how you have to file a Form 1040 each year if you work (and make over a certain income level)?

A deceased person's estate must file a Form 706 when a person dies and their estate is valued at over $1 million. Most liquid assets and many fixed assets (property mostly) are tied to either a person's name(such as property deeds) or social security number (bank accounts, trust funds, etc). Those are fairly easily cross-checked.

An estate's executor may attempt to conceal "unregistered" high value objects (art, rare coins, Superman #1 comics, etc) but that's the exception to the rule...not to mention tax fraud. Most larger estates have CPAs or Lawyers as executors and they're not going to risk their license to commit fraud for a client.

 

[RobDownSouth]

You're a funny guy. You opine on stuff that you demonstrably and obviously know nothing about.

You're more than welcome to attempt to prove me mistaken on matters of fact. Feel free to try!

Please note that "But...But..Lyndon Johnson!" is generally not considered an effective rebuttal.

I look forward to you proving me wrong. Try and use verifiable facts in your next post, m'kay?

 

[WantABWriter]

Question

What will happen when I bring home more money on unemployment that working 40 hours.

What I mean even if I make $10,000 a week but the taxes and withholding is $9500.00 why should I work?

If I work I have to get to work, dress for work, take my lunch or eat out. If I drive I have to pay for a car, insurance, and maintenance. If I take mass transit I have to pay a fare. I have to dress per the standards of my employeer meet his schedule.

Now if I am on unemployment all I have to do is stay home and watch TV, wear my jammies, and eat out of the fridge....

So one day it will be more profitable to not work.....many have already found that out.

They only tax the willing. And the government only has power because enought allow it.

When enough...if enough get angry we will be like Egypt or Greece. We might go as far as Syria or Libya.

Will it ever happen here?

Hope and pray not.

And again I lay the problem at the feet of congress, the president and the supreme court. They are the problem. Clinton showed us how corrupt they all are.


Just my thoughts

Jack

 

[Recidiva]

What will happen when I bring home more money on unemployment that working 40 hours.

What I mean even if I make $10,000 a week but the taxes and withholding is $9500.00 why should I work?

If I work I have to get to work, dress for work, take my lunch or eat out. If I drive I have to pay for a car, insurance, and maintenance. If I take mass transit I have to pay a fare. I have to dress per the standards of my employeer meet his schedule.

Now if I am on unemployment all I have to do is stay home and watch TV, wear my jammies, and eat out of the fridge....

So one day it will be more profitable to not work.....many have already found that out.

They only tax the willing. And the government only has power because enought allow it.

When enough...if enough get angry we will be like Egypt or Greece. We might go as far as Syria or Libya.

Will it ever happen here?

Hope and pray not.

And again I lay the problem at the feet of congress, the president and the supreme court. They are the problem. Clinton showed us how corrupt they all are.


Just my thoughts

Jack

Unemployment is not a huge amount of money. And I don't know of any tax scenario that leaves you $500 out of $10,000.

So I could ask also, what happens when my unicorn goes rabid and bites me and I get a weird rash. It's about as likely and as scary.

 

[Exquisition]

Unemployment is not a huge amount of money. And I don't know of any tax scenario that leaves you $500 out of $10,000.

So I could ask also, what happens when my unicorn goes rabid and bites me and I get a weird rash. It's about as likely and as scary.

You should have been in the UK in the early 70s. The top tier was 95% tax. No joke.

 

[Recidiva]

You should have been in the UK in the early 70s. The top tier was 95% tax. No joke.

Yes, that sounds scary until you realize that 5% of a "top tier" income is still a goddamned lot of money.

 

[julybaby04]

Very simple. You know how you have to file a Form 1040 each year if you work (and make over a certain income level)?

A deceased person's estate must file a Form 706 when a person dies and their estate is valued at over $1 million. Most liquid assets and many fixed assets (property mostly) are tied to either a person's name(such as property deeds) or social security number (bank accounts, trust funds, etc). Those are fairly easily cross-checked.

An estate's executor may attempt to conceal "unregistered" high value objects (art, rare coins, Superman #1 comics, etc) but that's the exception to the rule...not to mention tax fraud. Most larger estates have CPAs or Lawyers as executors and they're not going to risk their license to commit fraud for a client.

I agree with all of that. Just curious that the percentage could change if there were changes in the person's wealth, the year that person died. I am assuming those numbers are reflecting past year tax returns.

 

[julybaby04]

What will happen when I bring home more money on unemployment that working 40 hours.

What I mean even if I make $10,000 a week but the taxes and withholding is $9500.00 why should I work?

If I work I have to get to work, dress for work, take my lunch or eat out. If I drive I have to pay for a car, insurance, and maintenance. If I take mass transit I have to pay a fare. I have to dress per the standards of my employeer meet his schedule.

Now if I am on unemployment all I have to do is stay home and watch TV, wear my jammies, and eat out of the fridge....

So one day it will be more profitable to not work.....many have already found that out.

They only tax the willing. And the government only has power because enought allow it.

When enough...if enough get angry we will be like Egypt or Greece. We might go as far as Syria or Libya.

Will it ever happen here?

Hope and pray not.

And again I lay the problem at the feet of congress, the president and the supreme court. They are the problem. Clinton showed us how corrupt they all are.


Just my thoughts

Jack

I agree with your possible scenario. While unemployment or welfare may not. Cover the 10k, as in your example...there are also food stamps, healthcare..now, even free phones.

As long as the held out hand is filled, there is no reason nor desire to change anything.

I also agree that when the willing has had enough, there is going to be a problem.