Comments on: Lincoln’s $250 billion estate tax plan would cut taxes for only 60 ’small businesses.’ http://thinkprogress.org/2009/04/08/lincoln-estate/ Thu, 26 Nov 2009 14:43:40 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: guzide http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5604049 guzide Sat, 18 Apr 2009 09:52:21 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5604049 OK Pat obviously senile dementia has set in. Time to see the nice young men that will need to take care of you soon.<a href="http://www.magicplast.com" rel="nofollow">burun estetigi</a> <a href="http://www.hemenarac.com" rel="nofollow">rent a car</a> <a href="http://www.kardeslerrentacar.com" rel="nofollow">arac kiralama</a> <a href="http://www.magicsacekimi.com" rel="nofollow">sac ekimi</a> OK Pat obviously senile dementia has set in. Time to see the nice young men that will need to take care of you soon.burun estetigi rent a car arac kiralama
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]]> By: Sean Insanity http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5590058 Sean Insanity Thu, 09 Apr 2009 21:33:19 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5590058 The estate tax affects way less than 1% of Americans so eliminating the tax amounts to a tax cut for the wealthiest of the wealthy. I have worked with the estate tax for the past 25 years and have yet to see one of my client's businesses "destroyed" by the estate tax. Taxes can be paid out over 15 years to avoid having to liquidate businesses. Businesses can also be sold to new owners who continue operating the business and provide liquidity for the heirs of the deceased owner to pay the taxes. The estate tax affects way less than 1% of Americans so eliminating the tax amounts to a tax cut for the wealthiest of the wealthy. I have worked with the estate tax for the past 25 years and have yet to see one of my client’s businesses “destroyed” by the estate tax. Taxes can be paid out over 15 years to avoid having to liquidate businesses. Businesses can also be sold to new owners who continue operating the business and provide liquidity for the heirs of the deceased owner to pay the taxes.

]]> By: Eugene atrax robustus Debs http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5589650 Eugene atrax robustus Debs Thu, 09 Apr 2009 18:51:26 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5589650 just the facts Says: It is obvious you are another Ebenezer Scrooge worshipping wingnut. Why should I pay as much toward the military as the wealthy and corporations when it is used primarily to get resources FOR those corporations. We are all in this together which I guess is a concept simply beyond your simpleminded ability to grasp. Capital gains shouldnt even BE taxed at a lower rate than labor. As Lincoln said labor is prior to and more important than capital and deserves a higher consideration. Capital would not EXIST without labor. The whole estate tax argument is another asskissing of wealth argument. Why we need to give wealth EVERYTHING and beg for a few crumbs off of their table instead of demanding a societal obligation FROM wealth. just the facts Says:

It is obvious you are another Ebenezer Scrooge worshipping wingnut. Why should I pay as much toward the military as the wealthy and corporations when it is used primarily to get resources FOR those corporations. We are all in this together which I guess is a concept simply beyond your simpleminded ability to grasp. Capital gains shouldnt even BE taxed at a lower rate than labor. As Lincoln said labor is prior to and more important than capital and deserves a higher consideration. Capital would not EXIST without labor. The whole estate tax argument is another asskissing of wealth argument. Why we need to give wealth EVERYTHING and beg for a few crumbs off of their table instead of demanding a societal obligation FROM wealth.

]]> By: MapleStreet http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5589482 MapleStreet Thu, 09 Apr 2009 17:45:55 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5589482 Just the facts, If you are running a business and you don't know about re-organizaing the business for various tax advantages, I heartiily suggest you fire you tax attorney and get another one. Just the facts,

If you are running a business and you don’t know about re-organizaing the business for various tax advantages, I heartiily suggest you fire you tax attorney and get another one.

]]> By: just the facts http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5589043 just the facts Thu, 09 Apr 2009 14:36:37 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5589043 It is pretty obvious from the posts here that few,if any of you, are involved in any type of business, or have even the slightest grasp of economics. First of all, you can not just transfer assets to someone before you die, or the transfer will be taxed. Second, assets like stocks that have appreciated over time, and have not been taxed, should be taxed at the capital gains rate instead of the higher estate tax rate. Business assets are paid for with after tax dollars. In the case of farmers, it is farmland, machinery, buildings. In the case of small businesses, it is equipment and buildings. Why should the works of these people be subject to double taxation? I know some of you are astounded to hear the number $7 million, but that is not that big of an investment in farmland or small businesses in this day and age. Many businesses with assets in that range do not make a huge profit. Also, when you die, your debts are not forgiven, as one poster posted. Social security income is capped for a reason. It is a nationalized retirement plan. There is a limit on how much is paid out to an individual. Why should those who work harder have to pay for your retirement too? It is pretty obvious from the posts here that few,if any of you, are involved in any type of business, or have even the slightest grasp of economics. First of all, you can not just transfer assets to someone before you die, or the transfer will be taxed. Second, assets like stocks that have appreciated over time, and have not been taxed, should be taxed at the capital gains rate instead of the higher estate tax rate. Business assets are paid for with after tax dollars. In the case of farmers, it is farmland, machinery, buildings. In the case of small businesses, it is equipment and buildings. Why should the works of these people be subject to double taxation? I know some of you are astounded to hear the number $7 million, but that is not that big of an investment in farmland or small businesses in this day and age. Many businesses with assets in that range do not make a huge profit. Also, when you die, your debts are not forgiven, as one poster posted.
Social security income is capped for a reason. It is a nationalized retirement plan. There is a limit on how much is paid out to an individual. Why should those who work harder have to pay for your retirement too?

]]> By: kyrocky http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5589033 kyrocky Thu, 09 Apr 2009 14:31:39 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5589033 Small business and the family farm have been republican fig leaves since Reagan. If they were worried about the estate tax hurting them they could have altered the rules to exempt just them. Estate taxes hurting the family farmers, no estate tax on family owned farms. Bingo! But they were never the reason, they are just smokescreen for the rich and powerful. Too many in Congress (including democrats) are greatful to have the political cover of this fig leaf on subject after subject. Obama should veto this crap, and direct them to re-draft exempting small business and family farms, then let's see who will vote for it. They are merely propagan Small business and the family farm have been republican fig leaves since Reagan. If they were worried about the estate tax hurting them they could have altered the rules to exempt just them. Estate taxes hurting the family farmers, no estate tax on family owned farms. Bingo! But they were never the reason, they are just smokescreen for the rich and powerful. Too many in Congress (including democrats) are greatful to have the political cover of this fig leaf on subject after subject.

Obama should veto this crap, and direct them to re-draft exempting small business and family farms, then let’s see who will vote for it.

They are merely propagan

]]> By: FaireMaiden http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5588856 FaireMaiden Thu, 09 Apr 2009 06:14:56 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5588856 More corporate welfare. I am sick unto death of these freaks 'saving' poor wealthy folk from having to pay their fair share of taxes, and leaving the rest of us to foot the bill for their war-profiteering and heinous bail-outs, while we sit here literally 'dying' for lack of adequate medical coverage. I HATE THESE PEOPLE. More corporate welfare. I am sick unto death of these freaks ’saving’ poor wealthy folk from having to pay their fair share of taxes, and leaving the rest of us to foot the bill for their war-profiteering and heinous bail-outs, while we sit here literally ‘dying’ for lack of adequate medical coverage.

I HATE THESE PEOPLE.

]]> By: DallasNE http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5588757 DallasNE Thu, 09 Apr 2009 04:30:46 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5588757 This is exhibit A in why we need public financing of Federal elections. It is the single reason why a bill that affects .3% of the public can go sailing through Congress. Money corrupts everything. The other thing is that there is no effort to actually pay for this $250 billion that .3% of people will receive. It goes straight to the deficit. The same is true for the $50 billion nuclear power loan guarantee amended to the energy bill. All of this hand wringing over the size of the deficit and just two amendments increases the deficit by $300 billion. This is the highth of irresponsibility. Republicans need considerable help from the Democrats for this to go throug and we see that 10 Democrats joined 41 Republicans in voting for this measure. Obama will need to use his veto pen early and often. This is exhibit A in why we need public financing of Federal elections. It is the single reason why a bill that affects .3% of the public can go sailing through Congress. Money corrupts everything.

The other thing is that there is no effort to actually pay for this $250 billion that .3% of people will receive. It goes straight to the deficit. The same is true for the $50 billion nuclear power loan guarantee amended to the energy bill. All of this hand wringing over the size of the deficit and just two amendments increases the deficit by $300 billion. This is the highth of irresponsibility. Republicans need considerable help from the Democrats for this to go throug and we see that 10 Democrats joined 41 Republicans in voting for this measure. Obama will need to use his veto pen early and often.

]]> By: Eugene atrax robustus Debs http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5588631 Eugene atrax robustus Debs Thu, 09 Apr 2009 03:12:04 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5588631 jeff2001 Says: Your point is DUMB. Dead people dont have money. Dead people have NO property rights. That money becomes someone else's income and is therefore taxable. This is really pretty simple. Societies cost money and taxes are the price we pay to HAVE that society. Your stupid talking point is about like asking the electric company why THEY have a right to your money jeff2001 Says:

Your point is DUMB. Dead people dont have money. Dead people have NO property rights. That money becomes someone else’s income and is therefore taxable. This is really pretty simple. Societies cost money and taxes are the price we pay to HAVE that society. Your stupid talking point is about like asking the electric company why THEY have a right to your money

]]> By: jeff2001 http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5588586 jeff2001 Thu, 09 Apr 2009 02:39:08 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5588586 Why do you think you or the goverment is entitled to someones money. When they die? Why do you think you or the goverment is entitled to someones money. When they die?

]]> By: maeme http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5588533 maeme Thu, 09 Apr 2009 02:14:55 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5588533 She like so many others in the Democratic and Republican party have no concept of two words, "public servant". It disgusts me how many in both parties are on the take and just out for themselves so that they can keep their golden parachutes. <strong>Term Limits </strong>or an opponent every time keeps them more in our corner. She like so many others in the Democratic and Republican party have no concept of two words, “public servant”. It disgusts me how many in both parties are on the take and
just out for themselves so that they can keep their golden parachutes. Term Limits or an opponent every time keeps them more in our corner.

]]> By: wldj http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5588523 wldj Thu, 09 Apr 2009 02:10:29 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5588523 Maybe Im simple minded and just understand don't basic economics but if all my income is subject to Social Security taxes why aren't all income subjected to the same rate, if that isn't class warfare nothing is. Maybe I'm missing something or maybe the rich truly are more deserving of being rich I guess....I get confused and angry sometimes...sorry Maybe Im simple minded and just understand don’t basic economics but if all my income is subject to Social Security taxes why aren’t all income subjected to the same rate, if that isn’t class warfare nothing is. Maybe I’m missing something or maybe the rich truly are more deserving of being rich I guess….I get confused and angry sometimes…sorry

]]> By: wldj http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5588510 wldj Thu, 09 Apr 2009 02:01:25 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5588510 Why anyone making less than $100,000, and that is being generous, even given a now normal two family income, would vote for any republican just astounds me. These fools mostly vote single issues, mostly abortion, and consistently vote against their own self interest, and do it over and over and over and still don't understand that the politicians they so love only care about their vote and nothing else. They talk a good story i guess, i've never bought it but wtf do i know? Why anyone making less than $100,000, and that is being generous, even given a now normal two family income, would vote for any republican just astounds me. These fools mostly vote single issues, mostly abortion, and consistently vote against their own self interest, and do it over and over and over and still don’t understand that the politicians they so love only care about their vote and nothing else. They talk a good story i guess, i’ve never bought it but wtf do i know?

]]> By: DutchHenry http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5588492 DutchHenry Thu, 09 Apr 2009 01:47:50 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5588492 Why is anyone surprised by this weasel,Lincoln.She is a Repuke,long been against ordinary americans.Really,ask yourselves,is it less sensible to have the Dem agenda defeated by a Republican pig or someone who clothes 'emselves as a Dem but still put the screws in your thumbs. Why is anyone surprised by this weasel,Lincoln.She is a Repuke,long been against ordinary americans.Really,ask yourselves,is it less sensible to have the Dem agenda defeated by a Republican pig or someone who clothes ‘emselves as a Dem but still put the screws in your thumbs.

]]> By: MapleStreet http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5588468 MapleStreet Thu, 09 Apr 2009 01:21:31 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5588468 Don't pull your punch. All it takes to be one of the 60 businesses mentioned is to have 1 cent more than than the cut-off. If you make 1 cent more than the cut-off you would then owe, in taxes, somewhere between 1/4 cent and 1/2 cent. In short, those 60 businesses, very likely, would have paid only a small amount. Don’t pull your punch.

All it takes to be one of the 60 businesses mentioned is to have 1 cent more than than the cut-off. If you make 1 cent more than the cut-off you would then owe, in taxes, somewhere between 1/4 cent and 1/2 cent.

In short, those 60 businesses, very likely, would have paid only a small amount.

]]> By: Keith http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5588458 Keith Thu, 09 Apr 2009 01:10:26 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5588458 Conservatives think the estate tax was too strong in the past. But Sam Walton died in 1992 and his five heirs have around <strong>$93 BILLION</strong> today. Were they taxed too much? No, they were not taxed enough. Conservatives think the estate tax was too strong in the past. But Sam Walton died in 1992 and his five heirs have around $93 BILLION today. Were they taxed too much? No, they were not taxed enough.

]]> By: Arctic Ghetto http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5588444 Arctic Ghetto Thu, 09 Apr 2009 00:56:40 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5588444 When will Republicans especially, but Democrats also wake up to the fact that the tax cuts are for the wealthy? Not including the Bush give away we have had at least five tax cuts since the late 80s. Shouldn't our taxes be low by now or that we have realized huge tax rebates. The tax break ploy is as a campaign strategy that lines the suckers up. When will Republicans especially, but Democrats also wake up to the fact that the tax cuts are for the wealthy? Not including the Bush give away we have had at least five tax cuts since the late 80s. Shouldn’t our taxes be low by now or that we have realized huge tax rebates. The tax break ploy is as a campaign strategy that lines the suckers up.

]]> By: Robert M. http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5588415 Robert M. Thu, 09 Apr 2009 00:36:32 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5588415 Can anyone say Wal-Mart / Walton family ??? My guess is that since this is being pushed at this time, one of the clan is getting ready to kick the bucket. Has anyone asked the Congressional republicans when those bush tax cuts were supposed to begin creating those new jobs we were promised ??? Last I heard Americans are loosing 650,000 jobs each and every month. Doesn't that mean we need to retroactively repeal a percentage of the tax cuts the wealth received, since they obviously didn't live up to their part of the bargain. Can anyone say Wal-Mart / Walton family ???

My guess is that since this is being pushed at this time, one of the clan is getting ready to kick the bucket.

Has anyone asked the Congressional republicans when those bush tax cuts were supposed to begin creating those new jobs we were promised ???

Last I heard Americans are loosing 650,000 jobs each and every month.

Doesn’t that mean we need to retroactively repeal a percentage of the tax cuts the wealth received, since they obviously didn’t live up to their part of the bargain.

]]> By: pbeeg http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5588411 pbeeg Thu, 09 Apr 2009 00:34:35 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5588411 All they have to do is transfer the assets before they croak. All they have to do is transfer the assets before they croak.

]]> By: fletc3her http://thinkprogress.org/2009/04/08/lincoln-estate/comment-page-1/#comment-5588381 fletc3her Thu, 09 Apr 2009 00:10:10 +0000 http://thinkprogress.org/2009/04/08/lincoln-estate/#comment-5588381 If we eliminate the Estate Tax then people should have to pay Capital Gains Tax and Income Tax on the assets that they inherit from an estate. The Estate Tax stands in lieu of those taxes. Beneficiaries are able to inherit unlimited amounts of money tax free. Insolvent estates are able to write off unlimited amounts of debt with no ramifications. In exchange for these benefits, only the most wealthy of estates are charged any taxes at all. Only estates worth more than one million dollars even need to worry about being taxed. If we eliminate the Estate Tax then people should have to pay Capital Gains Tax and Income Tax on the assets that they inherit from an estate. The Estate Tax stands in lieu of those taxes. Beneficiaries are able to inherit unlimited amounts of money tax free. Insolvent estates are able to write off unlimited amounts of debt with no ramifications. In exchange for these benefits, only the most wealthy of estates are charged any taxes at all. Only estates worth more than one million dollars even need to worry about being taxed.

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