Due to estate tax loophole, Texas oil tycoon passes $9b to his children tax-free - Polidicks

[QUOTE=Chrisholl;22561035]It's not the fact that it's 9 billion dollars, it's the fact that half of the hard earned money he wanted to go to his family, is being taken away. Its not the amount that matters, half of this mans life works is being taken away, when he just wants to give the best to his children and grandchildren, much like your parents got everything for you.[/QUOTE] There is a very big, critical difference between this guy leaving 9 billion, a significant chunk of economy controlling money, and stock, and assets to someone, and your parents leaving you a few hundred thousand dollars in liquidity. An estate tax is not wrong. A 55% estate tax is wrong, and no one is arguing it is not. So would you all drop that point?

:20bux:

[QUOTE=General J;22553083]Imagine your Dad giving you $10 dollars allowance to buy a toy. Then a Government man comes in "Excuse me, yeah I'll just take more than half of that." [editline]06:09AM[/editline] Okay yes, tax is [B]good.[/B] But it's fuck ridiculous that they want[B] more than half[/B] oh what you have.[/QUOTE] terrible analogy. [editline]09:09PM[/editline] [QUOTE=Chrisholl;22561035]It's not the fact that it's 9 billion dollars, it's the fact that half of the hard earned money he wanted to go to his family, is being taken away. Its not the amount that matters, half of this mans life works is being taken away, when he just wants to give the best to his children and grandchildren, much like your parents got everything for you.[/QUOTE] lol, 9 million dollars is not "hard earned"

[QUOTE=Dr Magnusson;22559895]Ahem. Imagine your dad growing up, working at a factory. One day he falls asleep with a cigarette in his hand, and his carpet catches fire. A neighbour smells the smoke and calls the fire department. Your dad survives and there were only minor damages to the floor. A few years later your dad now runs aforementioned factory, and is making quite a buck off of it. One day a bunch of criminals decide to rob this factory of all the expensive equipment. The police is called in and locate the robbers before they manage to sell off any of the equipment. Now your dad is 60, and on his way back from work at the factory that he now owns and is making millions of dollars off of. He suffers a seizure behind the wheel and crashes into a lamp post, in a crowded street. The police and ambulances are called and your dad is taken to the hospital. Your dad is well, and suffers no permanent damage because of the speed of the ambulance service. Your dad is now 95, and having lived a full life, dies in his sleep. Your dad was able do this because of the roads the government put down between his the factory, because he didn't have to swim through oceans of garbage going from his house to his car, among a million other things that made your dads lifestyle possible. Yeah, he doesn't owe the government [I]shit![/I][/QUOTE] His dad paid taxes on all his income, from paychecks or profits, all his life. He doesn't owe the government [B]shit![/B] But I do understand the need for an estate tax in order to stop the formation of an aristocracy. I do not agree with the tax, but still at least it has some reason behind it. And excuse me but how is this tax evasion? I thought tax evasion was using the loopholes in the laws and so on to evade paying taxes. This guy doesn't have to do anything, the tax is lifted temporarily (for the year) right? Or did I get something wrong? He is not circumventing taxation laws, he is abiding the laws.

The priority of the rich is to keep their money.

Good, it's his money. Shame the recipients will probably take it for granted, however.

[QUOTE=Warhol;22562253]lol, 9 million dollars is not "hard earned"[/QUOTE] You really are as dumb as I thought you were.

[QUOTE=lulzbocks;22518921]The funny part is, that's exactly the opposite of what the Founding Fathers thought.[/QUOTE] all of the writings of hamilton, jay, and jefferson point towards a more powerful federal government

[QUOTE=lulzbocks;22570630]You really are as dumb as I thought you were.[/QUOTE] How is an inheritance hard-earned?

I don't understand why poor people fight for rich people to be taxed less. That dead guys grave probably costs more than your house.

[QUOTE=PrismatexV8;22570818]How is an inheritance hard-earned?[/QUOTE] He didn't mention an inheritance. He said that " 9 million dollars is not 'hard earned'".

The money has already been taxed, why the fuck would they tax it again just to distribute it amongst your children?

[QUOTE=PrismatexV8;22570818]How is an inheritance hard-earned?[/QUOTE] Inheritances don't come from nothing, someone earned that money, and they want to give that to their family, by saying they didn't earn that money is saying that the person who earned that money doesn't deserve to give it as he wills.

Inheritance should not be taxed. End of story.

[QUOTE=the_KMM;22582882]Inheritance should not be taxed. End of story.[/QUOTE] Inheritance should be taxed. End of story.

[QUOTE=HumanAbyss;22584751]Inheritance should be taxed. End of story.[/QUOTE] It should , but not by 55%, maybe about 20%

Which has been said like a million times already.

[QUOTE=lulzbocks;22570630]You really are as dumb as I thought you were.[/QUOTE] Ok, that's it fellas. pack it in, lulzbocks offered quite the post here [editline]01:06AM[/editline] [QUOTE=the_KMM;22582882]Inheritance should not be taxed. End of story.[/QUOTE] Thanks the_kmm, your word is the final say, thanks for showing me the way