General Discussion

TheKentuckian

(26,314 posts)

23. Maybe "many" but very, very far from even a significant minority.

Mon Jan 7, 2013, 04:20 PM

Jan 2013

Hell, what percentage inherits even 50k (a widely felt super low number)?

70% or so never inherit 10k.

What this is rich folks making rules to benefit rich folks, fueled in no small part by preemptive avarice and statistically rare anecdote among the working class.

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What happened to the estate tax? Had to keep that at no tax on 10 million to create jobs? [View all] No Compromise Jan 2013 OP

Robber Barons are now called Job Creators leftstreet Jan 2013 #1

On the estate tax, the deal worked out was better than the Senate bill that previously passed ProSense Jan 2013 #2

Individual estates up to $5 million are excluded, estates above that pay 40%. n/t PoliticAverse Jan 2013 #3

Facts on DU what is this? Harmony Blue Jan 2013 #4

why did I see the number 10 million as well No Compromise Jan 2013 #5

It's $5 million per person so for a married couple/family estate it's $10 million total. n/t PoliticAverse Jan 2013 #8

And just to be clear... FreeJoe Jan 2013 #6

As long as the married couple is not gay, in which case the feds still screw them over on taxes awake Jan 2013 #7

Yes the Federal government doesn't recognize same-sex marriage re tax purposes... PoliticAverse Jan 2013 #9

+100000 No Compromise Jan 2013 #13

We got screwed by the republicans. President Obama dropped the ball Dkc05 Jan 2013 #10

Well. bluestate10 Jan 2013 #11

But he gave in on billions in estate taxes Dkc05 Jan 2013 #12

"Obama got tax rates raised back to Clinton levels" hfojvt Jan 2013 #15

He wanted to raise taxes on people at the top without them going up for people making, say, 40K a yr Warren DeMontague Jan 2013 #17

except Obama did not SAY $40,000 a year hfojvt Jan 2013 #18

Right, but had the Bush cuts expired- something I would have been fine with, BTW- Warren DeMontague Jan 2013 #21

that's what a losing negotiation is hfojvt Jan 2013 #27

The original cutoff was 250k because thats already where the top maginal rate started. Warren DeMontague Jan 2013 #36

perhaps the actual fact, that you want to pretend isn't important hfojvt Jan 2013 #40

I would have been fine with all the cuts expiring. Warren DeMontague Jan 2013 #42

Obama does not deserve a small amount of credit hfojvt Jan 2013 #44

and lowered the rate from 55% to 40% hfojvt Jan 2013 #14

Simple fact, although people may not want to hear it; the exemption was NEVER going to go back down Warren DeMontague Jan 2013 #16

simple fact then hfojvt Jan 2013 #19

I guess you didn't hear me. Warren DeMontague Jan 2013 #20

Maybe "many" but very, very far from even a significant minority. TheKentuckian Jan 2013 #23

Someone asked the question, I answered it. Warren DeMontague Jan 2013 #37

The house we are renting in San Diego could, with just a little renovation, be valued at $500K. haele Jan 2013 #25

I think you are undervaluing houses in Texas and Ohio hfojvt Jan 2013 #29

Original owner who bought a house in 1957 for $20K . California real estate market pre Prop 13 upped haele Jan 2013 #30

I am still not seeing a huge hardship hfojvt Jan 2013 #35

And the "ordinary" couple that owns 20 of them would be exempt from taxes. lumberjack_jeff Jan 2013 #32

They wont find the etates liable now, since the exemption has been raised permanently. Warren DeMontague Jan 2013 #38

I guess you did not hear me hfojvt Jan 2013 #28

Where are you getting that 10% figure? Warren DeMontague Jan 2013 #39

I pulled it out of my a$$ hfojvt Jan 2013 #41

Then they aren't ordinary. If they were they would have to sell it Demo_Chris Jan 2013 #43

Old estate tax myths never die. LiberalAndProud Jan 2013 #22

Hell no, they instead spread like cancer through the ideological spectrum. TheKentuckian Jan 2013 #24

Obama caved on this--- can he change it now. maybe by exectutive order Dkc05 Jan 2013 #26

Yes, the 8 people who pay the tax sure got a deal. jeff47 Jan 2013 #31

This is the element of the deal I am most pissed off about democrattotheend Jan 2013 #33

Yes and no. The idle rich don't compete for jobs at the lumberyard. n/t lumberjack_jeff Jan 2013 #34