How? Easy. I never sell a single share of stock of facebook. Instead, I borrow all I need against my stocks. Then, when I die, my heirs can get a stepup of the value of my stocks to their market value, pay off my loans, and sell my shares without any tax liability.



We have to design a fairer tax system. Capital has to be seen the same as labor. You would think this is something the right and left could bet behind. Maybe the centrists from both sides.

Why? The rich can change the tax system so they never have to pay anything. It's never a fair system.

(01-28-2015 10:35 AM)Machiavelli Wrote:  Without an Estate Tax the IRS won't see a Penny from me- Mark Zuckerberg

Good. I can't stand the thought of what the government would do to me with that money.

(01-28-2015 10:37 AM)firmbizzle Wrote:  Why? The rich can change the tax system so they never have to pay anything. It's never a fair system.

WTF are you talking about? Who's to say what is "fair"? You? Right now the "rich" pay PLENTY in taxes. "Rich" is a very fluid term for Liberals, btw.

The bottom line is that there is a system that we all follow. The only thing that is "fair" is whether or not you're operating within the rule of the law. Too stupid to understand how to protect / maximize your assets? Too bad.

(01-28-2015 10:35 AM)Machiavelli Wrote:  How? Easy. I never sell a single share of stock of facebook. Instead, I borrow all I need against my stocks. Then, when I die, my heirs can get a stepup of the value of my stocks to their market value, pay off my loans, and sell my shares without any tax liability.



We have to design a fairer tax system. Capital has to be seen the same as labor. You would think this is something the right and left could bet behind. Maybe the centrists from both sides.

I wouldn't be behind that at all. There should be no capital gains tax, there should be no income tax either. IMHO there should only be consumption taxes.

(01-28-2015 10:45 AM)blunderbuss Wrote:  There should be no capital gains tax, there should be no income tax either.

I concur.

Taxing capital is a very bad move for the economy. It literally doesn't get any worse.

A flat income tax or a consumption tax is needed, not an estate tax.

(01-28-2015 10:43 AM)blunderbuss Wrote:  

(01-28-2015 10:37 AM)firmbizzle Wrote:  Why? The rich can change the tax system so they never have to pay anything. It's never a fair system.

WTF are you talking about? Who's to say what is "fair"? You? Right now the "rich" pay PLENTY in taxes. "Rich" is a very fluid term for Liberals, btw.

The bottom line is that there is a system that we all follow. The only thing that is "fair" is whether or not you're operating within the rule of the law. Too stupid to understand how to protect / maximize your assets? Too bad.

So it's fair for people to leach off the system and pay nothing? Is it fair for someone with a lot of money to bribe politicians so that they very little? Is it fair for me to bribe the refs so that the Seahawks win this weekend?

It isn't fair to bribe people who are making the rules/laws into making them favor you.

Why can't Zuckerburg do charity or good works or whatever he chooses with his money rather than the government squandering it? Does he realize how much more he can do with a billion dollars than the government can?

Ever is correct. A flat tax or consumption based is the only "fair" ( I just used one of the Libs favorite words) way of taxation.

When over 50 % do not pay any tax at all in this country and the same amount of people are receiving some sort of government assistance!

(01-28-2015 11:17 AM)firmbizzle Wrote:  

(01-28-2015 10:43 AM)blunderbuss Wrote:  

(01-28-2015 10:37 AM)firmbizzle Wrote:  Why? The rich can change the tax system so they never have to pay anything. It's never a fair system.

WTF are you talking about? Who's to say what is "fair"? You? Right now the "rich" pay PLENTY in taxes. "Rich" is a very fluid term for Liberals, btw.

The bottom line is that there is a system that we all follow. The only thing that is "fair" is whether or not you're operating within the rule of the law. Too stupid to understand how to protect / maximize your assets? Too bad.

So it's fair for people to leach off the system and pay nothing? Is it fair for someone with a lot of money to bribe politicians so that they very little? Is it fair for me to bribe the refs so that the Seahawks win this weekend?

It isn't fair to bribe people who are making the rules/laws into making them favor you.

The only "fair" that matters is how folks are operating under the rule of law. If what they're doing is legal it is fair. I don't have to like it but it's fair. My feelings really don't f----ing matter.

(01-28-2015 11:17 AM)firmbizzle Wrote:  

(01-28-2015 10:43 AM)blunderbuss Wrote:  

(01-28-2015 10:37 AM)firmbizzle Wrote:  Why? The rich can change the tax system so they never have to pay anything. It's never a fair system.

WTF are you talking about? Who's to say what is "fair"? You? Right now the "rich" pay PLENTY in taxes. "Rich" is a very fluid term for Liberals, btw.

The bottom line is that there is a system that we all follow. The only thing that is "fair" is whether or not you're operating within the rule of the law. Too stupid to understand how to protect / maximize your assets? Too bad.

So it's fair for people to leach off the system and pay nothing? Is it fair for someone with a lot of money to bribe politicians so that they very little? Is it fair for me to bribe the refs so that the Seahawks win this weekend?

It isn't fair to bribe people who are making the rules/laws into making them favor you.

Institute a VAT tax and/or a consumption tax and the wealthy don't get to bribe politicians with money to doctor the tax laws to their benefit. You buy an item - you pay the tax. How simple - but you libs howl at the moon over this - you must want all the politicians on the take and the rich able to buy their tax loopholes.

Face it - the government can not get ahead of this. If they play games to try and close the loopholes - and do - the rich will just move their wealth off shore. Cry till hell freezes over at the injustice, but that is the way it is..........

Government should have no claim to taxes of inherited wealth. It was already taxed before. While some favor an abolishment of capital gains taxes, I'm not opposed to some low level of a tax on gains. I too think an abolishment of the income tax in favor of a consumption tax is a better way to go. Assuming that this would never fly, the idea of dropping the income tax rates to much lower percentages AND closing all loopholes at the same time would do wonders for the economy.

(01-28-2015 11:56 AM)miko33 Wrote:  Government should have no claim to taxes of inherited wealth. It was already taxed before.

That should be the end of the discussion. But alas, the govt gets greedy in it's need to fund waste.

(01-28-2015 11:56 AM)miko33 Wrote:  Government should have no claim to taxes of inherited wealth. It was already taxed before. While some favor an abolishment of capital gains taxes, I'm not opposed to some low level of a tax on gains. I too think an abolishment of the income tax in favor of a consumption tax is a better way to go. Assuming that this would never fly, the idea of dropping the income tax rates to much lower percentages AND closing all loopholes at the same time would do wonders for the economy.

While I agree with you - as you know, one of the biggest power and money plays in Washington is that those in office can pick winners and losers in the tax code (based on who ponies up the most dough for re-election). Those in office will never find it in their soul enough to be statesmen and enact the consumption tax over the income tax - they garner too much money/power from the current system.

I don't believe VAT is as fair as people think it is.

The end result is even greater control of the government over the things you want to buy that it doesn't feel you should have.

How so? The products remain the same, where does the "control" factor into it.. The taxes would be paid in segments along the supply chain.

Zuck could voluntarily contribute some of the jing to his country, if he's all that damned altruistic.

He should pay what he owes...