Agreed. And leave it to these imbeciles to conveniently fail to mention that someone has to DIE in order for an estate to allocate assets into a bypass Trust for the family members. I guess for them, that is what they mean by being "lucky". I've put so many people on IGNORE tonight, it's amazing. This has definitely got to be one of the "low-water" marks for lack of intelligent life on ET in a long long time. Absolutely amazing.
I need to explore the ignore feature. Its this crazy thinking that got us into this current mess. Government put us in this mess, now their the ones to get us out of this mess? For real? Raising taxes on ANY tax bracket or business is surely the first step to the road to recovery, right. The people can spend their money better then any government can.
Like here where you got schooled? http://www.elitetrader.com/vb/showthread.php?s=&postid=2317007#post2317007
Hi SmilingSynic I registered just to tell you that you are an idiot. TexRex said it best: âYour insistence on such a stupid opinion vexes me. People inheriting the family farm or business have usually had to work their asses off on/in it from a very young age, and usually without any pay until they are of age. So the government deserves it? because they worked so hard to deserve it? If transferring a family business to the next generation becomes even more expensive than it already is no younger generation family members will ever participate in the business, since they are essentially throwing all their sweat equity out of the window. so dumb.â
I insist only because the arguments for keeping the estate tax are so weak. Indeed, on this board, most of the responses, including yours, have resorted to name calling. If you want to persuade someone, it does not make sense to insult them. Logic might help.
It is amazing that you are unable to articulate ONE good reason to abolish the estate tax. Your case has basically been I am an idiot (actually, I met my wife while both of us were members of Mensa) and that, boo hoo, you are going to put me on ignore. If you weren't so rude, I'd happily articulate at least 5 reasons why I believe that the estate tax should be kept and even increased on the condition that income taxes were decreased.
Parents should pay their children if they expect them to work on the family business. If they don't, then they are exploiting their own children. Why do the children "deserve" it? Because they share the same DNA as their parents? I worked in my parents home growing up doing chores and stuff, so that makes me "deserving" of their property when they die? How absurd. Anyone who wants or needs their parents' property, in my view, is a failure. There are few things more pathetic in life than a rich kid who sponges off their parents and lacks the cahones to go out there in the real world and stake their own claim. I am amazed that a self-made trader could ever support abolishing the estate tax. I know this site is full of paper traders who have never made a dime trading, but, come on already. As I said, I support higher estate taxes and LOWER INCOME TAXES because I value hard work, not handouts; and because taxing labor penalizes those who work and work hard. I am stunned why so many here would not want a tax cut, because that would take away from those who have inherited what they did not earn. Then again, those who don't make money don't pay income tax, so they don't benefit either way.
Most good parents dream of leaving their children and family better off when they pass on. It doesn't matter that they are working hard and not enjoying the fruits of their labor as long as they can rest assured their children will be better off than they are. For many that is a MAJOR motivation and incentive. By supporting an extreme estate tax one is basically supporting an incentive to be selfish and not to provide for the future. Why save? Why not just die broke? Or better yet why not after working in the U.S. move assets abroad and take up foreign citizenship?