Yes, we can. - Page 253

sleepyjeff · 10-27-2008, 04:40 PM

Quote:

Originally Posted by wendybeth

Why is it that so many financial officers and publications are endorsing Obama, if he is just going to tax them and their clients out of existence?

The answer lies within your question

scaeagles · 10-27-2008, 04:00 PM

Quote:

Originally Posted by JWBear

And the Republican White House has done such a superb job with that these last eight years...

I completely agree.

Alex · 10-27-2008, 01:45 PM

Here's a decent comparison of McCain and Obama's Estate Tax proposals.

If you're opposed philosophically to an estate tax at all then you won't be happy with either because they both support continuing them.

Obama at the current 45% rate with a $7 million exemption (currently it is $3.5 million).

McCain at 15% with a $10 million exemption.

Those sounds hugely different to me but per the articles figures I didn't see a big difference in impact on small businesses. Small businesses are the bugaboo of estate taxes since heirs potentially have to sell or close the business to afford or avoid the taxes, creating economic collateral damage.

However, under either plan there would only be a couple hundred impacted business each year (and even under the current "horrible" situation it is less than 500 a year).

So, neither candidate agrees with you on principal in opposing any estate tax at all (and the article makes a good point about why abolishment altogether isn't necessarily a great thing for heirs either) and the individual impacts are hugely different and the revenue impacts are significantly different (McCain maybe saves another 50-100 business over Obama but loses the government about $40B in current revenue due to his significantly lower rate).

Morrigoon · 10-27-2008, 09:41 PM

Quote:

Originally Posted by Alex

Here's a decent comparison of McCain and Obama's Estate Tax proposals.

If you're opposed philosophically to an estate tax at all then you won't be happy with either because they both support continuing them.

Obama at the current 45% rate with a $7 million exemption (currently it is $3.5 million).

McCain at 15% with a $10 million exemption.

Those sounds hugely different to me but per the articles figures I didn't see a big difference in impact on small businesses. Small businesses are the bugaboo of estate taxes since heirs potentially have to sell or close the business to afford or avoid the taxes, creating economic collateral damage.

Isn't this what living trusts are for?

Ghoulish Delight · 10-27-2008, 01:53 PM

Changing topics for a moment:

Skinheads: Disproving white supremacy two idiots at a time

Betty · 10-27-2008, 02:05 PM

Quote:

Originally Posted by Ghoulish Delight

Changing topics for a moment:

Skinheads: Disproving white supremacy two idiots at a time

What a bunch of dumb asses.

BDBopper · 10-27-2008, 02:28 PM

Quote:

Originally Posted by Ghoulish Delight

Changing topics for a moment:

Skinheads: Disproving white supremacy two idiots at a time

it makes me want to puke to know that someone even had the thought to pull such a plot. I thought we had progressed far enough. Ugh!

Ghoulish Delight · 10-27-2008, 02:30 PM

Quote:

Originally Posted by BDBopper

it makes me want to puke to know that someone even had the thought to pull such a plot. I thought we had progressed far enough. Ugh!

What about a country full of people who, in supposedly legitimate media positions, lend credence to ridiculous rumors that Obama is a secret terrorist simply because of his middle name has lead you to believe that this country has progressed beyond racism?

BDBopper · 10-27-2008, 03:01 PM

Quote:

Originally Posted by Ghoulish Delight

What about a country full of people who, in supposedly legitimate media positions, lend credence to ridiculous rumors that Obama is a secret terrorist simply because of his middle name has lead you to believe that this country has progressed beyond racism?

That disgusts me too.

flippyshark · 10-27-2008, 04:05 PM

Whee! I voted this afternoon.

Of no real significance, but as I was standing in line waiting to vote, two young ladies, about college age, latina, cute, (none of which matters, just painting a picture) were behind me talking about their pending vote. They were clearly in Obama's camp, but I was amused about their reasons why:

- "He is SO good looking!"
- "And I love the way he sounds when he talks! I can't wait to have a president who looks good and who I love listening to!"
- "And he dresses nice. I am so excited!"

Whatever it takes. I'm happy they voted.

10-27-2008, 01:45 PM	#3
Alex . Join Date: Feb 2005 Posts: 13,354	Here's a decent comparison of McCain and Obama's Estate Tax proposals. If you're opposed philosophically to an estate tax at all then you won't be happy with either because they both support continuing them. Obama at the current 45% rate with a $7 million exemption (currently it is $3.5 million). McCain at 15% with a $10 million exemption. Those sounds hugely different to me but per the articles figures I didn't see a big difference in impact on small businesses. Small businesses are the bugaboo of estate taxes since heirs potentially have to sell or close the business to afford or avoid the taxes, creating economic collateral damage. However, under either plan there would only be a couple hundred impacted business each year (and even under the current "horrible" situation it is less than 500 a year). So, neither candidate agrees with you on principal in opposing any estate tax at all (and the article makes a good point about why abolishment altogether isn't necessarily a great thing for heirs either) and the individual impacts are hugely different and the revenue impacts are significantly different (McCain maybe saves another 50-100 business over Obama but loses the government about $40B in current revenue due to his significantly lower rate).
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10-27-2008, 01:53 PM	#5
Ghoulish Delight I Floop the Pig Join Date: Jan 2005 Location: Alternative Swankstyle Posts: 19,348	Changing topics for a moment: Skinheads: Disproving white supremacy two idiots at a time __________________ 'He who receives an idea from me, receives instruction himself without lessening mine; as he who lights his taper at mine, receives light without darkening me.' -TJ
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10-27-2008, 04:05 PM	#10
flippyshark Senior Member Join Date: Jan 2005 Location: Orlando, FL Posts: 2,852	Whee! I voted this afternoon. Of no real significance, but as I was standing in line waiting to vote, two young ladies, about college age, latina, cute, (none of which matters, just painting a picture) were behind me talking about their pending vote. They were clearly in Obama's camp, but I was amused about their reasons why: - "He is SO good looking!" - "And I love the way he sounds when he talks! I can't wait to have a president who looks good and who I love listening to!" - "And he dresses nice. I am so excited!" Whatever it takes. I'm happy they voted.
	Submit to Quotes