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News & Politics News & Politics

Obama administration..stealing???

Posted by on Dec. 11, 2012 at 12:34 AM
  • 165 Replies
5 moms liked this

So the law right now is that if a multi millionaire leaves you or a charity an inheritance the first 5 million is non-taxable. As of Jan. 1st only the first million will be non-taxable and the remaining will be taxed somewhere around 50%. 

That's theft. 
Also, it's number 3 in the communist mannifesto: Abolition of all right of inheritance.


What do you think about this???

by on Dec. 11, 2012 at 12:34 AM
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Replies (1-10):
Aivlys_
by Bronze Member on Dec. 11, 2012 at 12:37 AM
1 mom liked this
I'm not surprised...... Smh
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shannonnigans
by Silver Member on Dec. 11, 2012 at 3:31 AM
10 moms liked this
I think you completely ignored the history of estate and gift taxes as well as that of the current law, and chose instead to make a half-assed attempt to demonize the current admin with yet more of the same tiresome ingeminations about the country going communist.

Of course, wasn't that you that went on that crazy rant yesterday about how I was a minion of Satan and was going to burn in hell for eternity because I didn't accept Jesus? Real fire and brimstone stuff - old school!

So you'll have to excuse me if I don't take your post extremely seriously....

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Farmlady09
by Silver Member on Dec. 11, 2012 at 5:43 AM
6 moms liked this

The sensible way to handle this is for parents to 'sell' their children most of the property at ridiculously reduced prices instead of just leaving them everything in a will ~ but really leaving them nothing but possible debt and/or disinheritance.

The government has NO business confiscating personal property and land just because the owner (who bought and paid for that property, as well as paid taxes on it year after year already) *eta* died. I agree OP ~ it's stealing.

I know of three elderly people in my area that are doing just that ... 'selling' everything to their children now ~ so that when Uncle Sammy comes for his half, there isn't anything left but the guest house full of the oldest furniture and broken dishes. Uncle Sammy needs his fingers slapped and something much more productive to do with his time (and to stop hanging out with ambulance chasing lawyers!).

The ones I really feel sorry for are those with family farms that the families have held for years. The true value of those farms is in the equipment. When the kids are forced to sell off the equipment to pay Uncle Sammy, the only thing they have left is a lot of land they can no longer do anything with ~ let alone earn a living. Therefore, I don't think anything bad about those selling off a combine worth $750,000 to a child for $1000 (or less) and writing it off. At least when grandpa dies, the kids and grandkids will be able to pay the taxes on that little guest house and keep on farming.

Same goes for those who bought acreage and built a home ~ but the home and property would have to be sold to pay the taxes. Parcel it out and strip the house ahead of time. That's legal ~ unlike what Uncle Sammy is doing.

rocketracer
by Gold Member on Dec. 11, 2012 at 6:38 AM
6 moms liked this

The gov't has no right to a single penny of anyone's inheritance.  All forms of inheritance tax should be abolished.

jillianmayasmom
by Bronze Member on Dec. 11, 2012 at 7:46 AM
This. Except for the Satan part.


Quoting shannonnigans:

I think you completely ignored the history of estate and gift taxes as well as that of the current law, and chose instead to make a half-assed attempt to demonize the current admin with yet more of the same tiresome ingeminations about the country going communist.

Of course, wasn't that you that went on that crazy rant yesterday about how I was a minion of Satan and was going to burn in hell for eternity because I didn't accept Jesus? Real fire and brimstone stuff - old school!

So you'll have to excuse me if I don't take your post extremely seriously....


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Canvas_says
by Silver Member on Dec. 11, 2012 at 8:05 AM
2 moms liked this

While the Estate tax is not Obama's idea and has been around for a very long time allowing the rates to jump next year so drastically is terrible. This will not only affect the super rich, it will affect middle class families who have amassed any decent assets in their life time if those values exceed 1 million dollars. 

Someone who deals in rental property for instance their assets would be high while it's not actually cash on hand and here their families will be left with paying 55 percent of the value. 

mikiemom
by Gold Member on Dec. 11, 2012 at 8:12 AM

First of all, you don't have to worry about it, no-one is going to give you any money. Second of that is not theft.

mustbeGRACE
by Silver Member on Dec. 11, 2012 at 9:05 AM
8 moms liked this

Just more wealth redistribution.

imamomzilla
by on Dec. 11, 2012 at 9:13 AM
3 moms liked this

 Dems, by in large, are crooks and liars.

I'm sure there are some exemptions for their kind. ;-)


Ednarooni160
by Eds on Dec. 11, 2012 at 9:17 AM
6 moms liked this

As far as charities go...I doubt the Obamas will have to worry about this..they hardly give money to anyone..

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