WalMart Heirs Have Same Net Worth As the Bottom 30 Percent Of Americans

[BoogeyMan 0]

Milton Friedman, the Nobel prize recipient for economic sciences, stated pretty much the same thing. Too bad he passed away in 2006.

[DrewEckhardt 0]

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Yeah. It was incomplete estate planning. Geezer died before completing the transactions.

But I also find it interfesting that even dreamdancer suggests that they should have done estate planning to avoid it. While saying that an indecent tax should be levied.

Tell me this, The inheritance tax is there... how does 'estate planning' avoid it?

By moving assets out of your estate before you die so they aren't subject to the death tax.

Individuals can give other individuals a $13,000 gift each year without it counting against their lifetime gift tax exclusion and married couples can double that.

That can be combined with other tricks. For instance, you could pay 35% in taxes to convert an IRA into a Roth IRA prior to giving it and effectively move $39,780 out of your estate to each beneficiary per year or $79,500 for a pair of children.

By the time you actually die the gifts can have appreciated substantially for an even greater reduction in taxes compared to what you'd have paid if you held the assets until you died.

You can put life insurance in an irrevocable trust and have the trust pay the premiums so the payout (millions) doesn't pass through your estate which is subject to the death tax.

Etc.

[loumeinhart 0]

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working a farm is working a farm

haha yea right

"working a farm" involves more than one hat

a farmer is:
electrician
mechanic
heavy equip engineer
weather man
business owner
ecologist
carpenter
agronomist
vet
laborer

iDreamdancer Bot wouldn't last 2 days on a farm

[loumeinhart 0]

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and while you're slagging me off the 1% get even richer at our expense...

What have you or I 'expended' that we otherwise would have kept (i.e. money/property) if say, 1/2 of the 1% did not exist?

[dreamdancer 0]

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you're the one equating a decent inheritance tax with communism...

No, I am equating an unfair inheritance tax with communism.
You're the Communist and/or Socialist supporter heere, not me. I'm fully in favor of self reliance with charity being voluntary, not compulsory.

in your credo then all tax is communist - thus you are a communist. get used to the idea

stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

[dreamdancer 0]

i find it indecent that you're making a fortune from a bereaved family...

stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

[dreamdancer 0]

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working a farm is working a farm

haha yea right

"working a farm" involves more than one hat

a farmer is:
electrician
mechanic
heavy equip engineer
weather man
business owner
ecologist
carpenter
agronomist
vet
laborer

iDreamdancer Bot wouldn't last 2 days on a farm

i grew up on a working farm - you wouldn't have survived one winter...

stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

[dreamdancer 0]

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To me, the inheritance tax is a crock of crap! Should be 0%! That estate has been paying taxes over the years and would continue to pay taxes if, left alone.


Chuck

you mean if the kids get it for free (more welfare for them)...

stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

[masterrig 1]

Thanks for that! I really appreciate it.


Chuck

[loumeinhart 0]

[Belgian_Draft 0]

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you're the one equating a decent inheritance tax with communism...

No, I am equating an unfair inheritance tax with communism.
You're the Communist and/or Socialist supporter heere, not me. I'm fully in favor of self reliance with charity being voluntary, not compulsory.

in your credo then all tax is communist - thus you are a communist. get used to the idea

Dude, you really need to lay off the Magic Brownies.

HAMMER:
Originally employed as a weapon of war, the hammer nowadays is used as a
kind of divining rod to locate the most expensive parts adjacent the
object we are trying to hit.

[loumeinhart 0]

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I cannot stand going to a Wal-Mart. You get run-over or crashed into. People tear-up the aisles and kids run around like it's a playground

That's part of the experience. Like a gameshow where you dodge freaks in order to get the good deals.

Yesterday I took my jump drive to the photo center and had 110 quality 4x6 prints in 1HR for 14 bucks.

Had to grab some window blinds too.
I want to send a thank-you card to the kids back East but the packaging doesn't specify the originating sweatshop.

[BoogeyMan 0]

i grew up on a working farm - you wouldn't have survived one winter...


You live in Thailand. The winters are usually milder there, compared to, say west Texas, Colorado or Alaska, Germany, Poland, Russia and so forth. Most people, who are not in delicate health or afraid of work, could easily survive.

[dreamdancer 0]

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you're the one equating a decent inheritance tax with communism...

No, I am equating an unfair inheritance tax with communism.
You're the Communist and/or Socialist supporter heere, not me. I'm fully in favor of self reliance with charity being voluntary, not compulsory.

in your credo then all tax is communist - thus you are a communist. get used to the idea

Dude, you really need to lay off the Magic Brownies.

calling me a communist hasn't stuck - now you want me to be a druggie. what a sad way to debate a pretty simple tax idea...

stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

[masterrig 1]

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I cannot stand going to a Wal-Mart. You get run-over or crashed into. People tear-up the aisles and kids run around like it's a playground

That's part of the experience. Like a gameshow where you dodge freaks in order to get the good deals.

Yesterday I took my jump drive to the photo center and had 110 quality 4x6 prints in 1HR for 14 bucks.

Had to grab some window blinds too.
I want to send a thank-you card to the kids back East but the packaging doesn't specify the originating sweatshop.

You are mor than welcome to the 'Wal-Mart ambiance'!
What gets me about Wal-Mart is, their prices on some items, are right up there with Best Buy or other stores. In my case, the nearest Wal-Mart is 85-miles away. I prefer to shop 'local' and avoid the 'Big Boys'. You gave me another reason. I don't care to buy items that were more than likely made by some little kid, in some sweat shop for 2-cents per item they crank-out!!


Chuck

[masterrig 1]

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i grew up on a working farm - you wouldn't have survived one winter...


You live in Thailand. The winters are usually milder there, compared to, say west Texas, Colorado or Alaska, Germany, Poland, Russia and so forth. Most people, who are not in delicate health or afraid of work, could easily survive.

If, one can handle all that humidity!
Here in West Texas, it got to 10-below zero (daytime temps.) for several days, last winter. We lost a lot of new calves. Plumbers couldn't keep-up, repairing frozen pipes. Summer came and we had upwards to 110 - 115 deg. temps. We have two seasons... winter and summer!


Chuck

[BoogeyMan 0]

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i grew up on a working farm - you wouldn't have survived one winter...


You live in Thailand. The winters are usually milder there, compared to, say west Texas, Colorado or Alaska, Germany, Poland, Russia and so forth. Most people, who are not in delicate health or afraid of work, could easily survive.

If, one can handle all that humidity!
Here in West Texas, it got to 10-below zero (daytime temps.) for several days, last winter. We lost a lot of new calves. Plumbers couldn't keep-up, repairing frozen pipes. Summer came and we had upwards to 110 - 115 deg. temps. We have two seasons... winter and summer!


Chuck

...and the work never lets up, either winter or summer, I'll wager.

[masterrig 1]

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i grew up on a working farm - you wouldn't have survived one winter...


You live in Thailand. The winters are usually milder there, compared to, say west Texas, Colorado or Alaska, Germany, Poland, Russia and so forth. Most people, who are not in delicate health or afraid of work, could easily survive.

If, one can handle all that humidity!
Here in West Texas, it got to 10-below zero (daytime temps.) for several days, last winter. We lost a lot of new calves. Plumbers couldn't keep-up, repairing frozen pipes. Summer came and we had upwards to 110 - 115 deg. temps. We have two seasons... winter and summer!


Chuck

...and the work never lets up, either winter or summer, I'll wager.

Not a bit! There's always something.


Chuck

[dreamdancer 0]

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i grew up on a working farm - you wouldn't have survived one winter...


You live in Thailand. The winters are usually milder there, compared to, say west Texas, Colorado or Alaska, Germany, Poland, Russia and so forth. Most people, who are not in delicate health or afraid of work, could easily survive.

If, one can handle all that humidity!
Here in West Texas, it got to 10-below zero (daytime temps.) for several days, last winter. We lost a lot of new calves. Plumbers couldn't keep-up, repairing frozen pipes. Summer came and we had upwards to 110 - 115 deg. temps. We have two seasons... winter and summer!


Chuck

it got pretty cold up on the edge of dartmoor in the middle of a deepest, darkest devon winter. me and my brothers grew up in the back of a link box throwing hay out to the cows midwinter. all that snow, and a hilly farm - luckily roll bars had just been made mandatory...

...yawn.

stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

[masterrig 1]

Quote

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working a farm is working a farm

haha yea right

"working a farm" involves more than one hat

a farmer is:
electrician
mechanic
heavy equip engineer
weather man
business owner
ecologist
carpenter
agronomist
vet
laborer

iDreamdancer Bot wouldn't last 2 days on a farm

i grew up on a working farm - you wouldn't have survived one winter...

You left-out 'gambler'! Other than that, you summed it up, real good!


Chuck

[masterrig 1]

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i grew up on a working farm - you wouldn't have survived one winter...


You live in Thailand. The winters are usually milder there, compared to, say west Texas, Colorado or Alaska, Germany, Poland, Russia and so forth. Most people, who are not in delicate health or afraid of work, could easily survive.

If, one can handle all that humidity!
Here in West Texas, it got to 10-below zero (daytime temps.) for several days, last winter. We lost a lot of new calves. Plumbers couldn't keep-up, repairing frozen pipes. Summer came and we had upwards to 110 - 115 deg. temps. We have two seasons... winter and summer!


Chuck

it got pretty cold up on the edge of dartmoor in the middle of a deepest, darkest devon winter. me and my brothers grew up in the back of a link box throwing hay out to the cows midwinter. all that snow, and a hilly farm - luckily roll bars had just been made mandatory...

...yawn.

Are you talking about the Dartmoor in South Devon... that is 'protected' by the National Park System?


Chuck

[rushmc 18]

iDreamdancer Bot wouldn't last 2 days on a farm

[dreamdancer 0]

that's dartmoor - our farm was a couple of miles north. we got cut off a few times - log fire lit, candles and parafin lights out...

stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

[rushmc 18]

i grew up on a working farm - you wouldn't have survived one winter...

[rushmc 18]

calling me a communist hasn't stuck - now you want me to be a druggie. what a sad way to debate a pretty simple tax idea...

YOU ARE SAYING HE HAS A POOR DEBATE STYLE??????


BOOM

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln