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Originally Posted by lookout123
that's kinda the point BigV - i don't believe there should be an estate tax at all. so i am asking the folks who support one, what is the cut off?
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Ok, you found one, I do support it.
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Originally Posted by lookout123
who gets to give up 40%
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Paris Hilton's daddy.
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Originally Posted by lookout123
and who gets to keep it all?
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Small estates.
Ok, you're looking for a number, right? Why not have a sliding scale? Something like mutiples of our income tax brackets? Some Median income times 2x or 3x is the floor, and then in chunks moving upward from there?
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Originally Posted by lookout123
it goes back to the same question i've asked before when talking about income taxes - what number defines "wealthy"? people don't seem to realize that the numbers you used to define wealthy when bitching about the rich are found in your own neighborhoods.
the truly wealthy people (i'm not talking about iconic wealth like the hiltons)live in middle class neighborhoods, drive sensible cars, wear sensible clothes, work 50-60 hours week, drink beer and play in the side yard with their kids just like you do. if you don't believe it, look up the statistics for location of millionaires in your area. most of them don't live in the most glamorous neighborhoods and drive BMW's. (most popular milionaire car? used camry)
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Ok, I accept that there might be some modest people in my area that have large assets. Ok. Your point? That they're stand up people, who are involved in the community, that they care about their families, that getting things done ranks ahead of showing off? Yeah, so what? Is that exclusive somehow of wanting to pay their fair share?
I heard another thing that seems relevant here--
It's not about equal giving, it's about equal sacrifice.
Yes, sacrifice. Many people are doing it, and it's NOT equally shared, nor are the benefits of those sacrifices equally shared. That is unfair.
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Originally Posted by lookout123
it is just a feature of politrix that gets us to point our fingers at those "wealthy" people who never have to mingle with the likes of us. one of the wealthiest guys i know is a damn letter carrier for the USPS, for crying out loud! he took the ant and the grasshopper story to heart and lives it. one of the most cashstrapped desperate fools i know has a hummer and a $1.3MM home. go figure.
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So you're saying that "wealthy" isn't what shows, right? I agree with that. Wealthy is more than a figure on a balance sheet. Yes, money and material possesions are part of the equation, but no amount of money, regardless of how it's spent or saved is enough to create the comfort and security of real wealth. Only a state of mind can complete the picture. A state of mind of contentment, that realizes sufficiency.
You aptly point out that the millionaire postman who drives a used Camry displays more happiness than the overextended fool with the Hummer. Would the postman be any less content if his bank balance were, 25% lower? Hard to say, but someone who functions that way isn't wrapped around the axle like the Hummer-fool. By the way, why a Hummer? Was the Chevy Suburban or Ford Excursion inadequate in some way?
Think about what the wealth represents. Security, options, choice, peace of mind. Those are all head and heart things, not figures on a balance sheet. The more loosely those goals are connected to the amount of money in the bank one has, the more likely one is to reach them both.