How poverty affects intellegence

@woiyo,

woiyo wrote:

Not clear what your question is. And yes, there are people whose vast majority of their wealth is in securities.

And no you apparently do not understand the Estate TAx System.

Of course there are people whose majority of wealth come from stocks.

Just as there are people for whom it does not.

Why do you keep repeating yourself about my understanding?

I knew about the capital gains, was there something else?

You weren't clear on what I was asking, but your answered it in the next sentence, so apparantly you did understand. In addition, it was a retorical question.

Are you an estate tax attorney? Or have you been the benfeficiary of an extate worth over 10 million, or have one worth more than that? Just wondering, as I was the co-executor of such an estate, and pretty much remember it all, as it got pretty complicated.

I know if you're worth over 10 million, and you've got the majority in stocks, unless you're an expert like Warren Buffet, you're not the best manager of your assests.

BTW, I'm more on the liberal side, and I oppose an estate tax.

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@woiyo,

woiyo wrote:

When you whine about the influence of the "elite", this is a part of the reason the "elite" grow stronger.

The "elite" have an obligation to contribute to society and (Yikes I will say it) redistribute part of the wealth they accumulated over their lives.

So keep this in mind the next time you whine about "the elite gaining too much power and influence".

I don't recall whining about the influence of the elite. Can you point out where I did?

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@hawkeye10,

hawkeye10 wrote:

chai2 wrote:

Agreed.

The people who leave it to heirs have already paid taxes on it. It's taxing it a 2nd time.

Why, they have no right to give their heirs, or charities, or whoever, everything they have.

the health of the collective comes first. If families collecting great wealth over generations hurt the health of the collective then we have a duty to ourselves to prevent it.

Bullshit.

If anything, they have the duty to protect as much of their wealth (after enjoying it themselves) to leave to whoever and whatever they want.

1 Reply

@parados,

Thanks. I was working hard to put it to words. Why should $1,ooo invested in Ford not be taxed a income if its worth a billion now and the stock has never been sold and people are making their living from it. Its income.

Pay inheritance or pay a full income tax from it. I don't mind paying taxes on what I may inherit. I don't mind paying my income taxes.

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@Baldimo,

There should be an inheritance tax, particularly since it is income.

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@chai2,

Quote:

If anything, they have the duty to protect as much of their wealth (after enjoying it themselves) to leave to whoever and whatever they want.

the interests of the individual and the interests of the collective are often at odds. On matters of great importance to the health of the collective, as I believe the vacuuming up of wealth is, the collective has an obligation to make sure that it wins....as it always will once it decides to press its case.

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@bobsal u1553115,

bobsal u1553115 wrote:

There should be an inheritance tax, particularly since it is income.

60-70% range would be fine.

1 Reply

@bobsal u1553115,

bobsal u1553115 wrote:

There should be an inheritance tax, particularly since it is income.

You mean income a person has already earned and paid tax on?

1 Reply

@hawkeye10,

Wow Hawk, I never pictured you for much of a taken. Guess I had you figured wrong.

1 Reply

@bobsal u1553115,

How is an inheritance income?

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@Baldimo,

Baldimo wrote:

How is an inheritance income?

You did not have it before, then it comes in to you...it is income.

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@chai2,

No because once it starts collecting interest the taxes most certainly have not been paid. And when that income is past the poverty level it needs to taxed like the income it most certainly is. My grandfather's canny investment shouldn't exclude me from income taxes like every working stiff American. Why should sweat money be taxed heavier than inherited wealth?

1 Reply

@Baldimo,

Baldimo wrote:

Wow Hawk, I never pictured you for much of a taken. Guess I had you figured wrong.

Dont know what that means, but the way it should work accumulate as much as you want early in life, then if you want to direct where it goes spend the end of your life handing it out to good works (or set up a foundation that will do so for a long time), failing that the collective should take most of it back. Wealth always belongs to the collective, and the collective must make sure that wealth is almost always working for the collective. Individuals are granted leave to hold and use it temporarily only, and this permission can be removed at any time.

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@Baldimo,

Please. How is it not?

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@hawkeye10,

That seems to be a major problem with our govt. Every bit of money we get seems to be income and gets taxed. We have an issue in this country with how "income" is defined and how much of it the govt gets. I can see why the wealthy hide their money from the govt., you always want to hide what you have from crooks.

1 Reply

@hawkeye10,

It's not income, it's inheritance. It's already been earned and tax paid on it (not counting capital gains for instance).

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@hawkeye10,

Since when does wealth belong to the collective? Last time I checked the collective wasn't getting up at 5am to answer my work calls for me.

The collective can kiss my ass.

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@Baldimo,

Quote:

That seems to be a major problem with our govt. Every bit of money we get seems to be income and gets taxed. We have an issue in this country with how "income" is defined and how much of it the govt gets. I can see why the wealthy hide their money from the govt., you always want to hide what you have from crooks.

Globalization and the free flow of capital ended governments ability to repossess wealth in most cases, which in my opinion was most of the point. Without a global government that can put the screws to the capitalists the masses are pretty well fucked. This is one of the top five reasons why I say that this global world order is doomed, that collapse and revolution are now a certainty, only the timing is not known.

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@chai2,

chai2 wrote:

It's not income, it's inheritance. It's already been earned and tax paid on it (not counting capital gains for instance).

It was not earned by you. Wealth is constantly moving from person to person in a healthy system, and each time it does the government takes a skim in taxes, because government needs to be paid for. The fact that the income is from inheritance and not work is no excuse for the government to not take a slice. In fact my argument is that it is a reason for the government to take an even bigger slice. You did not earn this wealth, you have done nothing for the collective to earn the reward, so **** you. Wealth belongs to the collective. If you want to hold on to some wealth then do something for the collective to earn it.

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@Baldimo,

Quote:

Last time I checked the collective wasn't getting up at 5am to answer my work calls for me.

you were rewarded for getting up at 5am and doing work. You were also through your forging (investment in your non-productive youth years) put into a position by the collective so that you could get up at 5am, do work, and get rewards. And you can do just about any damn fool thing you want with those rewards. But that does not mean that you get to do any damn fool thing you want. We should not let families accumulate large amounts of wealth, this almost never works out well for the collective.

Quote:

The collective can kiss my ass.

The ever increasing lawbook should remind you of who the boss is. It is not you.

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How poverty affects intellegence

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