Death & Taxes

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    Posted: 16 July 2012 12:24 PM #271

    BillH - 15 July 2012 12:27 AM
    Apple II+ - 14 July 2012 07:29 PM

    If you’re thinking about the very long term, consider also the step up in basis for your heirs, i.e. no capital gains.

    Capital gains?  That’s the easy part.  Deciding whether or not to muck with their lives is considerably more difficult.  :(

    Well, unless you spend it all, then you’re leaving it to someone or some organization. But I suspect you’re talking about family heirs, especially children. The fact is, no matter what parents do or don’t do, it’s mucking with their children’s lives. Deciding what to do with a large estate is “a high quality problem”.

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    The only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. — Steve Jobs

         
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    Posted: 16 July 2012 02:06 PM #272

    Breaking myths: a good piece from Forbes about how President Obama is tighter with the budget than any president since Eisenhower:

    http://www.forbes.com/sites/rickungar/2012/05/24/who-is-the-smallest-government-spender-since-eisenhower-would-you-believe-its-barack-obama/

         
  • Posted: 16 July 2012 03:11 PM #273

    OK, I’ll weigh in one more time.  I’ve been on the planet a little over 6 decades, and lived through 12 presidents, and this his is how I see things:

    1.  Top tier individual and corporate tax rates are about as low as ever historically.  According to Reaganomics, lower taxes are supposed to stimulate the economy, create jobs, increase investment, and increase tax revenue.  But the historically low tax rates we have had for the past several years have not done any of those things.  What is apparent is that we don’t collect enough tax revenue to support our infrastructure or society.  We will either have to increase taxes or accept living in a society where everything is crumbling and people beg, live, and die in the streets.

    I had a $60 steak the other night at El Gaucho in Portland, one of Conservative talk show host Lars Larson’s favorite restaurants (at least when they sponsored his local show).  Dinner for 6 was around $1000.  Meanwhile, outside there were people begging and sleeping on the sidewalk mainly due to lack of a public mental health care system.  Portland public schools is approaching 40 for an average class size as they close campuses and fire teachers for lack of money.  This is not a society I want to live in, even if I can afford a $200 dinner.

    2.  The Conservative mantra of “Deregulation! The private sector can do it cheaper and better!” echoes rather hollow.  I worked for Enron during their implosion.  Deregulation of the electric utility industry allowed Enron to game the system and cook the books.  My co-workers lost millions of dollars in pensions, and other stockholders lost their life’s savings.  Prior to that it was the Savings and Loan scandal, again made possible by deregulation of the S&L industry.  Lately it is deregulation of the banking industry that has cost the taxpayers in excess of a Trillion dollars.

    To be sure, the Democrats have their own issues.  That’s why I’ve voted for Republican presidents time after time.  No more.  I’ve seen where the Conservative/Republican agenda takes us.  I do not want to live in one giant Calcutta, even if it means I can be comfortably well off and I can live in a gated, upscale community so that I don’t have to deal with the great unwashed.  That’s not what the America in which I grew up was about.  My America put men on the moon and built the interstate highway system, and they rightly did so with tax dollars.  My America cared about its citizens and their welfare.  America today seems to have been taken over by the Ferengi…

    [ Edited: 16 July 2012 03:14 PM by Zeke ]      
  • Posted: 16 July 2012 11:44 PM #274

    firestorm - 16 July 2012 05:06 PM

    Breaking myths: a good piece from Forbes about how President Obama is tighter with the budget than any president since Eisenhower:

    http://www.forbes.com/sites/rickungar/2012/05/24/who-is-the-smallest-government-spender-since-eisenhower-would-you-believe-its-barack-obama/

    Great job Forbes, we need our news organizations to report more factual news like this.  So many news organizations are after ratings and just want to stir up the public by giving a slanted view of things.  This has caused our country to become polarized.  It would help if the news media would just report the news and let the audience form their own opinions.  We will get plenty of spin and slant from the campaigns.  The media should try to stay neutral and report the facts.

         
  • Posted: 16 July 2012 11:46 PM #275

    Zeke - 16 July 2012 06:11 PM

    OK, I’ll weigh in one more time.  I’ve been on the planet a little over 6 decades, and lived through 12 presidents, and this his is how I see things:

    1.  Top tier individual and corporate tax rates are about as low as ever historically.  According to Reaganomics, lower taxes are supposed to stimulate the economy, create jobs, increase investment, and increase tax revenue.  But the historically low tax rates we have had for the past several years have not done any of those things.  What is apparent is that we don’t collect enough tax revenue to support our infrastructure or society.  We will either have to increase taxes or accept living in a society where everything is crumbling and people beg, live, and die in the streets.

    I had a $60 steak the other night at El Gaucho in Portland, one of Conservative talk show host Lars Larson’s favorite restaurants (at least when they sponsored his local show).  Dinner for 6 was around $1000.  Meanwhile, outside there were people begging and sleeping on the sidewalk mainly due to lack of a public mental health care system.  Portland public schools is approaching 40 for an average class size as they close campuses and fire teachers for lack of money.  This is not a society I want to live in, even if I can afford a $200 dinner.

    2.  The Conservative mantra of “Deregulation! The private sector can do it cheaper and better!” echoes rather hollow.  I worked for Enron during their implosion.  Deregulation of the electric utility industry allowed Enron to game the system and cook the books.  My co-workers lost millions of dollars in pensions, and other stockholders lost their life’s savings.  Prior to that it was the Savings and Loan scandal, again made possible by deregulation of the S&L industry.  Lately it is deregulation of the banking industry that has cost the taxpayers in excess of a Trillion dollars.

    To be sure, the Democrats have their own issues.  That’s why I’ve voted for Republican presidents time after time.  No more.  I’ve seen where the Conservative/Republican agenda takes us.  I do not want to live in one giant Calcutta, even if it means I can be comfortably well off and I can live in a gated, upscale community so that I don’t have to deal with the great unwashed.  That’s not what the America in which I grew up was about.  My America put men on the moon and built the interstate highway system, and they rightly did so with tax dollars.  My America cared about its citizens and their welfare.  America today seems to have been taken over by the Ferengi…

    Very well stated!

         
  • Posted: 18 July 2012 10:39 PM #277

    Zeke - 16 July 2012 06:11 PM

    ? this his is how I see things:

    1.  Top tier individual and corporate tax rates are about as low as ever historically.  ? we don’t collect enough tax revenue to support our infrastructure or society.  ?  I can afford a $200 dinner.

    2.  The Conservative mantra of “Deregulation! ?” ? echoes rather hollow.  ?

    ?  America today seems to have been taken over by the Ferengi…

    I agree, our country is running a deficit. Deregulation usually does give unscrupulous individuals opportunities to commit fraudulent acts. The Ferengi? Yes, some of them post here at AFB.

    Now, how does this relate to politics? Oh, it’s the republicans fault. Now its’s perfectly clear.

         
  • Posted: 18 July 2012 11:26 PM #278

    qualitywte - 18 July 2012 12:24 AM

    http://www.forbes.com/sites/rickungar/2012/05/24/who-is-the-smallest-government-spender-since-eisenhower-would-you-believe-its-barack-obama/

    Surprise surprise!

    You do understand that this has been debunked to a great degree by several sources including ABC, NYT, several authors at the Heritage Foundation as well as numerous conservative authors at different locations in the media and on the internet. I can see posting it once to inform everyone where you stand but we don’t need to read it twice. As usual Rick is just repeating the mantra of the socialist administration that is now in charge—-which hopefully will be replaced soon. Could it be that you are just trying to start an argument on a website that doesn’t allow them? I do hope you are successful in your investment strategies so you will have the money to contribute to Mr. Obama’s campaign to offset those I have made to the opposition.  Good luck.

         
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    Posted: 18 July 2012 11:35 PM #279

    Zeke - 16 July 2012 06:11 PM

    OK, I’ll weigh in one more time.  I’ve been on the planet a little over 6 decades, and lived through 12 presidents, and this his is how I see things:

    1.  Top tier individual and corporate tax rates are about as low as ever historically.  According to Reaganomics, lower taxes are supposed to stimulate the economy, create jobs, increase investment, and increase tax revenue.  But the historically low tax rates we have had for the past several years have not done any of those things.  What is apparent is that we don’t collect enough tax revenue to support our infrastructure or society.  We will either have to increase taxes or accept living in a society where everything is crumbling and people beg, live, and die in the streets.

    I had a $60 steak the other night at El Gaucho in Portland, one of Conservative talk show host Lars Larson’s favorite restaurants (at least when they sponsored his local show).  Dinner for 6 was around $1000.  Meanwhile, outside there were people begging and sleeping on the sidewalk mainly due to lack of a public mental health care system.  Portland public schools is approach
    ing 40 for an average class size as they close campuses and fire teachers for lack of money.  This is not a society I want to live in, even if I can afford a $200 dinner.

    2.  The Conservative mantra of “Deregulation! The private sector can do it cheaper and better!” echoes rather hollow.  I worked for Enron during their implosion.  Deregulation of the electric utility industry allowed Enron to game the system and cook the books.  My co-workers lost millions of dollars in pensions, and other stockholders lost their life’s savings.  Prior to that it was the Savings and Loan scandal, again made possible by deregulation of the S&L industry.  Lately it is deregulation of the banking industry that has cost the taxpayers in excess of a Trillion dollars.

    To be sure, the Democrats have their own issues.  That’s why I’ve voted for Republican presidents time after time.  No more.  I’ve seen where the Conservative/Republican agenda takes us.  I do not want to live in one giant Calcutta, even if it means I can be comfortably well off and I can live in a gated, upscale community so that I don’t have to deal with the great unwashed.  That’s not what the America in which I grew up was about.  My America put men on the moon and built the interstate highway system, and they rightly did so with tax dollars.  My America cared about its citizens and their welfare.  America today seems to have been taken over by the Ferengi…

    I fail to see how a $60 steak, people beggIng, deregulation that happened with   a dem congressional majority or dem president and poor liberal economic policy has anything to do from a left coast perspective rant condemning conservative values

         
  • Posted: 19 July 2012 12:20 AM #280

    gdavid - 19 July 2012 01:39 AM

    Now, how does this relate to politics? Oh, it’s the republicans fault. Now its’s perfectly clear.

    It is the fault of everyone who tolerates or encourages this behavior.  Have we learned absolutely nothing about unfettered capitalism in our experiments with deregulation over the last 40 years?

    Is it rocket science that when you levy less taxes you have less tax money for things like road construction and aid to the sick and elderly?  Is it hard to grasp that spending $1T per year on the DoD, including two unnecessary wars, for no apparent reason other than to support defense contractors is a bad idea?

    It doesn’t matter who’s in charge.  It’s business as usual, and I do mean “business”.  Corporations are people now, after all.  People with no conscience, no morals, and no loyalty.  In short, Ferengi.

         
  • Posted: 19 July 2012 12:23 AM #281

    mstrmac - 19 July 2012 02:35 AM

    I fail to see how a $60 steak, people beggIng, deregulation that happened with   a dem congressional majority or dem president and poor liberal economic policy has anything to do from a left coast perspective rant condemning conservative values

    And “The Grapes of Wrath” was about a midwest family on a road trip.

    If you don’t want to connect the dots I can do that for you.  Reagan deregulated the S&L industry.  Electric utility deregulation was started under Bush 1 and continued under Clinton, but was always championed by big industry and conservatives.  Banking deregulation happened under Bush 2, and the economy crashed and burned just as he was leaving office.  The very first bailout money was authorized the summer before Obama was elected.  Obama doesn’t get off the hook though.  He hasn’t had the guts to end the wars, discontinue the bailouts, or stand up to the banking industry.

    [ Edited: 19 July 2012 12:33 AM by Zeke ]      
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    Posted: 19 July 2012 02:35 AM #282

    Zeke - 19 July 2012 03:23 AM
    mstrmac - 19 July 2012 02:35 AM

    I fail to see how a $60 steak, people beggIng, deregulation that happened with   a dem congressional majority or dem president and poor liberal economic policy has anything to do from a left coast perspective rant condemning conservative values

    And “The Grapes of Wrath” was about a midwest family on a road trip.

    If you don’t want to connect the dots I can do that for you.  Reagan deregulated the S&L industry.  Electric utility deregulation was started under Bush 1 and continued under Clinton, but was always championed by big industry and conservatives.  Banking deregulation happened under Bush 2, and the economy crashed and burned just as he was leaving office.  The very first bailout money was authorized the summer before Obama was elected.  Obama doesn’t get off the hook though.  He hasn’t had the guts to end the wars, discontinue the bailouts, or stand up to the banking industry.

    Here’s a little non fiction for ya
    Clinton signed the bill repealing Glass Seagall
    Clinton cut intel funding. Clinton’s CIA and director Tenet found no massive WMD in 2005. Two years after super majorities voted for war and massive war spending for both afghan and Iraq. .
    Bush inherited recession form Clinton and military cutbacks.
    Bush cut taxes to stimulate economy under massive spending requirements.
    The CRA started under carter and propagated thru 3 decades broght on the housing bubble. And in combo the financial crises which happened under bushes watch.
    It fathoms me how anyone can blame any one group for the current situation.
    Posted from iPhone.

         
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    Posted: 19 July 2012 10:12 AM #283

    mstrmac - 19 July 2012 05:35 AM
    Zeke - 19 July 2012 03:23 AM
    mstrmac - 19 July 2012 02:35 AM

    I fail to see how a $60 steak, people beggIng, deregulation that happened with   a dem congressional majority or dem president and poor liberal economic policy has anything to do from a left coast perspective rant condemning conservative values

    And “The Grapes of Wrath” was about a midwest family on a road trip.

    If you don’t want to connect the dots I can do that for you.  Reagan deregulated the S&L industry.  Electric utility deregulation was started under Bush 1 and continued under Clinton, but was always championed by big industry and conservatives.  Banking deregulation happened under Bush 2, and the economy crashed and burned just as he was leaving office.  The very first bailout money was authorized the summer before Obama was elected.  Obama doesn’t get off the hook though.  He hasn’t had the guts to end the wars, discontinue the bailouts, or stand up to the banking industry.

    Here’s a little non fiction for ya
    Clinton signed the bill repealing Glass Seagall
    Clinton cut intel funding. Clinton’s CIA and director Tenet found no massive WMD in 2005. Two years after super majorities voted for war and massive war spending for both afghan and Iraq. .
    Bush inherited recession form Clinton and military cutbacks.
    Bush cut taxes to stimulate economy under massive spending requirements.
    The CRA started under carter and propagated thru 3 decades broght on the housing bubble. And in combo the financial crises which happened under bushes watch.
    It fathoms me how anyone can blame any one group for the current situation.
    Posted from iPhone.

    It “fathoms” you? Might want to look that up….

    But we fathom you when you give a partisan response to a previous Republican voter’s level headed post. And then you end ironically with “how anyone can blame any one group”. Too much.

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    The only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. — Steve Jobs

         
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    Posted: 19 July 2012 11:55 AM #284

    Platon - 19 July 2012 02:26 AM
    qualitywte - 18 July 2012 12:24 AM

    http://www.forbes.com/sites/rickungar/2012/05/24/who-is-the-smallest-government-spender-since-eisenhower-would-you-believe-its-barack-obama/

    Surprise surprise!

    You do understand that this has been debunked to a great degree by several sources including ABC, NYT, several authors at the Heritage Foundation as well as numerous conservative authors at different locations in the media and on the internet. I can see posting it once to inform everyone where you stand but we don’t need to read it twice. As usual Rick is just repeating the mantra of the socialist administration that is now in charge—-which hopefully will be replaced soon. Could it be that you are just trying to start an argument on a website that doesn’t allow them? I do hope you are successful in your investment strategies so you will have the money to contribute to Mr. Obama’s campaign to offset those I have made to the opposition.  Good luck.

    For those who want more information about this debate, here is the Heritage Foundation’s statement and Rick Unger responding to it:

    http://blog.heritage.org/2012/05/24/setting-obamas-great-fiscal-restraint-record-straight/

    http://www.forbes.com/sites/rickungar/2012/05/24/who-is-the-smallest-government-spender-since-eisenhower-would-you-believe-its-barack-obama/2/

    I think Unger is dead right and Heritage is trying to slime out of the truth.  But if someone wants to believe that Obama is the biggest spender since Satan, I’m sure there are many other right-wing internet sites that will confirm these erroneous beliefs.

         
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    Posted: 19 July 2012 01:07 PM #285

    Apple II+ - 19 July 2012 01:12 PM
    mstrmac - 19 July 2012 05:35 AM
    Zeke - 19 July 2012 03:23 AM
    mstrmac - 19 July 2012 02:35 AM

    I fail to see how a $60 steak, people beggIng, deregulation that happened with   a dem congressional majority or dem president and poor liberal economic policy has anything to do from a left coast perspective rant condemning conservative values

    And “The Grapes of Wrath” was about a midwest family on a road trip.

    If you don’t want to connect the dots I can do that for you.  Reagan deregulated the S&L industry.  Electric utility deregulation was started under Bush 1 and continued under Clinton, but was always championed by big industry and conservatives.  Banking deregulation happened under Bush 2, and the economy crashed and burned just as he was leaving office.  The very first bailout money was authorized the summer before Obama was elected.  Obama doesn’t get off the hook though.  He hasn’t had the guts to end the wars, discontinue the bailouts, or stand up to the banking industry.

    Here’s a little non fiction for ya
    Clinton signed the bill repealing Glass Seagall
    Clinton cut intel funding. Clinton’s CIA and director Tenet found no massive WMD in 2005. Two years after super majorities voted for war and massive war spending for both afghan and Iraq. .
    Bush inherited recession form Clinton and military cutbacks.
    Bush cut taxes to stimulate economy under massive spending requirements.
    The CRA started under carter and propagated thru 3 decades broght on the housing bubble. And in combo the financial crises which happened under bushes watch.
    It fathoms me how anyone can blame any one group for the current situation.
    Posted from iPhone.

    It “fathoms” you? Might want to look that up….

    But we fathom you when you give a partisan response to a previous Republican voter’s level headed post. And then you end ironically with “how anyone can blame any one group”. Too much.

    Because i expected you to connect the dots because of the previous partisan posts and saw that i was being non partisan and throwing a little non fiction into the mix for your recall. K