[GoUSC]

Second (or is it third fourth or fifth???) the 3-series BMW. Once you drive one you’ll understand. I currently have an M5 and X5 (diesel) and they still remain the best all around sports (sporty) cars on the market. Mine have all been very reliable and a blast to drive…

[GoUSC]

General statements like this, while might have some validity don’t apply to every situation. Case in point, my wife and I bought a house (being sold under duress) a year and a half ago, completely remodeled it. At the time of the remodel, people in the construction industry were desperate for work so we paid significantly less for the remodel than in 2006 or even today. We are now sitting on a significant amount of equity based on comps within the past 3 months in our area and have a thirty year loan at 4.1%. Much lower than anything you will see in the foreseeable future. For us we wanted to find a place in a good school district for our future kids, and maybe even build some equity. Not to mention that tax benefit that we see….although we still are getting whacked by AMT.

There are opportunities in every market.

[GoUSC]

General statements like this, while might have some validity don’t apply to every situation. Case in point, my wife and I bought a house (being sold under duress) a year and a half ago, completely remodeled it. At the time of the remodel, people in the construction industry were desperate for work so we paid significantly less for the remodel than in 2006 or even today. We are now sitting on a significant amount of equity based on comps within the past 3 months in our area and have a thirty year loan at 4.1%. Much lower than anything you will see in the foreseeable future. For us we wanted to find a place in a good school district for our future kids, and maybe even build some equity. Not to mention that tax benefit that we see….although we still are getting whacked by AMT.

There are opportunities in every market.

[GoUSC]

General statements like this, while might have some validity don’t apply to every situation. Case in point, my wife and I bought a house (being sold under duress) a year and a half ago, completely remodeled it. At the time of the remodel, people in the construction industry were desperate for work so we paid significantly less for the remodel than in 2006 or even today. We are now sitting on a significant amount of equity based on comps within the past 3 months in our area and have a thirty year loan at 4.1%. Much lower than anything you will see in the foreseeable future. For us we wanted to find a place in a good school district for our future kids, and maybe even build some equity. Not to mention that tax benefit that we see….although we still are getting whacked by AMT.

There are opportunities in every market.

[GoUSC]

General statements like this, while might have some validity don’t apply to every situation. Case in point, my wife and I bought a house (being sold under duress) a year and a half ago, completely remodeled it. At the time of the remodel, people in the construction industry were desperate for work so we paid significantly less for the remodel than in 2006 or even today. We are now sitting on a significant amount of equity based on comps within the past 3 months in our area and have a thirty year loan at 4.1%. Much lower than anything you will see in the foreseeable future. For us we wanted to find a place in a good school district for our future kids, and maybe even build some equity. Not to mention that tax benefit that we see….although we still are getting whacked by AMT.

There are opportunities in every market.

[GoUSC]

General statements like this, while might have some validity don’t apply to every situation. Case in point, my wife and I bought a house (being sold under duress) a year and a half ago, completely remodeled it. At the time of the remodel, people in the construction industry were desperate for work so we paid significantly less for the remodel than in 2006 or even today. We are now sitting on a significant amount of equity based on comps within the past 3 months in our area and have a thirty year loan at 4.1%. Much lower than anything you will see in the foreseeable future. For us we wanted to find a place in a good school district for our future kids, and maybe even build some equity. Not to mention that tax benefit that we see….although we still are getting whacked by AMT.

There are opportunities in every market.

[GoUSC]

[quote=briansd1][quote=GoUSC]
I have never agreed with the gift or estate tax. It is pure double taxation. Why should my kids have to pay taxes on money that I earned and paid taxes on already? [/quote]

Not quite GoUSC. Say you earned and paid taxes on income which, net of taxes leave you $100. That asset grows to $10,000. You then give that asset to your kid. Should that be totally untaxed?

There is such thing as estate planning and most people will never pay estate taxes. And even people who pay estate taxes have planned much of it away.

Estate taxes affect only 5,500 Americans per year (even fewer now with the new law) out of a population of 310 million. I congratulate you if, on your own, you earned enough to be among those privileged folks.

We know who the Republicans are working for. Too bad real American voters are too ignorant to see it.[/quote]

Let’s talk real money. Real money that would be effected by this estate tax. Let’s say I owned a business and for years and years I scrapped by. But I kept working and kept taking risk. And one day that acceptance of risk worked and I made $1mil. Then I took that one $1mil and made it work for me. Again taking risk. So I turn that $1mil into…say $10mil in the stock market. I sell some of that money (paying capital gains) and put it to use somewhere else. I win some…I lose some. But at the end of the day, because I was willing to take risk I ended up with $10mil to give my kids. Why the hell should the government get any of it???? Makes no sense whatsoever.

[GoUSC]

[quote=briansd1][quote=GoUSC]
I have never agreed with the gift or estate tax. It is pure double taxation. Why should my kids have to pay taxes on money that I earned and paid taxes on already? [/quote]

Not quite GoUSC. Say you earned and paid taxes on income which, net of taxes leave you $100. That asset grows to $10,000. You then give that asset to your kid. Should that be totally untaxed?

There is such thing as estate planning and most people will never pay estate taxes. And even people who pay estate taxes have planned much of it away.

Estate taxes affect only 5,500 Americans per year (even fewer now with the new law) out of a population of 310 million. I congratulate you if, on your own, you earned enough to be among those privileged folks.

We know who the Republicans are working for. Too bad real American voters are too ignorant to see it.[/quote]

Let’s talk real money. Real money that would be effected by this estate tax. Let’s say I owned a business and for years and years I scrapped by. But I kept working and kept taking risk. And one day that acceptance of risk worked and I made $1mil. Then I took that one $1mil and made it work for me. Again taking risk. So I turn that $1mil into…say $10mil in the stock market. I sell some of that money (paying capital gains) and put it to use somewhere else. I win some…I lose some. But at the end of the day, because I was willing to take risk I ended up with $10mil to give my kids. Why the hell should the government get any of it???? Makes no sense whatsoever.

[GoUSC]

[quote=briansd1][quote=GoUSC]
I have never agreed with the gift or estate tax. It is pure double taxation. Why should my kids have to pay taxes on money that I earned and paid taxes on already? [/quote]

Not quite GoUSC. Say you earned and paid taxes on income which, net of taxes leave you $100. That asset grows to $10,000. You then give that asset to your kid. Should that be totally untaxed?

There is such thing as estate planning and most people will never pay estate taxes. And even people who pay estate taxes have planned much of it away.

Estate taxes affect only 5,500 Americans per year (even fewer now with the new law) out of a population of 310 million. I congratulate you if, on your own, you earned enough to be among those privileged folks.

We know who the Republicans are working for. Too bad real American voters are too ignorant to see it.[/quote]

Let’s talk real money. Real money that would be effected by this estate tax. Let’s say I owned a business and for years and years I scrapped by. But I kept working and kept taking risk. And one day that acceptance of risk worked and I made $1mil. Then I took that one $1mil and made it work for me. Again taking risk. So I turn that $1mil into…say $10mil in the stock market. I sell some of that money (paying capital gains) and put it to use somewhere else. I win some…I lose some. But at the end of the day, because I was willing to take risk I ended up with $10mil to give my kids. Why the hell should the government get any of it???? Makes no sense whatsoever.

[GoUSC]

[quote=briansd1][quote=GoUSC]
I have never agreed with the gift or estate tax. It is pure double taxation. Why should my kids have to pay taxes on money that I earned and paid taxes on already? [/quote]

Not quite GoUSC. Say you earned and paid taxes on income which, net of taxes leave you $100. That asset grows to $10,000. You then give that asset to your kid. Should that be totally untaxed?

There is such thing as estate planning and most people will never pay estate taxes. And even people who pay estate taxes have planned much of it away.

Estate taxes affect only 5,500 Americans per year (even fewer now with the new law) out of a population of 310 million. I congratulate you if, on your own, you earned enough to be among those privileged folks.

We know who the Republicans are working for. Too bad real American voters are too ignorant to see it.[/quote]

Let’s talk real money. Real money that would be effected by this estate tax. Let’s say I owned a business and for years and years I scrapped by. But I kept working and kept taking risk. And one day that acceptance of risk worked and I made $1mil. Then I took that one $1mil and made it work for me. Again taking risk. So I turn that $1mil into…say $10mil in the stock market. I sell some of that money (paying capital gains) and put it to use somewhere else. I win some…I lose some. But at the end of the day, because I was willing to take risk I ended up with $10mil to give my kids. Why the hell should the government get any of it???? Makes no sense whatsoever.

[GoUSC]

[quote=briansd1][quote=GoUSC]
I have never agreed with the gift or estate tax. It is pure double taxation. Why should my kids have to pay taxes on money that I earned and paid taxes on already? [/quote]

Not quite GoUSC. Say you earned and paid taxes on income which, net of taxes leave you $100. That asset grows to $10,000. You then give that asset to your kid. Should that be totally untaxed?

There is such thing as estate planning and most people will never pay estate taxes. And even people who pay estate taxes have planned much of it away.

Estate taxes affect only 5,500 Americans per year (even fewer now with the new law) out of a population of 310 million. I congratulate you if, on your own, you earned enough to be among those privileged folks.

We know who the Republicans are working for. Too bad real American voters are too ignorant to see it.[/quote]

Let’s talk real money. Real money that would be effected by this estate tax. Let’s say I owned a business and for years and years I scrapped by. But I kept working and kept taking risk. And one day that acceptance of risk worked and I made $1mil. Then I took that one $1mil and made it work for me. Again taking risk. So I turn that $1mil into…say $10mil in the stock market. I sell some of that money (paying capital gains) and put it to use somewhere else. I win some…I lose some. But at the end of the day, because I was willing to take risk I ended up with $10mil to give my kids. Why the hell should the government get any of it???? Makes no sense whatsoever.

[GoUSC]

[quote=UCGal][quote=enron_by_the_sea]I was first be happy to not have to pay more in taxes next year. Two seconds later I realized that I would be paying that with interest one way or another in the future anyway! So I don’t what the big deal is about.

If they had done it without adding to the deficit (in the long term) then I might have been impressed….[/quote]
+10.

This just added a trillion bucks to the deficit. Much bigger than TARP 1.

One of the little things in the law – the rich (and anyone else with a spare $10Million) can now gift their kids $10M, tax free. If they do it in the next 2 years. This is in addition to the estate tax changes… ($5M tax free.)

So if your older and may die in the next 2 years – you could give $15M to your kids tax free.

Now where did I put that spare $10 million….[/quote]

I have never agreed with the gift or estate tax. It is pure double taxation. Why should my kids have to pay taxes on money that I earned and paid taxes on already? The answer is not more taxes. The answer is less government spending.

[GoUSC]

[quote=UCGal][quote=enron_by_the_sea]I was first be happy to not have to pay more in taxes next year. Two seconds later I realized that I would be paying that with interest one way or another in the future anyway! So I don’t what the big deal is about.

If they had done it without adding to the deficit (in the long term) then I might have been impressed….[/quote]
+10.

This just added a trillion bucks to the deficit. Much bigger than TARP 1.

One of the little things in the law – the rich (and anyone else with a spare $10Million) can now gift their kids $10M, tax free. If they do it in the next 2 years. This is in addition to the estate tax changes… ($5M tax free.)

So if your older and may die in the next 2 years – you could give $15M to your kids tax free.

Now where did I put that spare $10 million….[/quote]

I have never agreed with the gift or estate tax. It is pure double taxation. Why should my kids have to pay taxes on money that I earned and paid taxes on already? The answer is not more taxes. The answer is less government spending.

[GoUSC]

[quote=UCGal][quote=enron_by_the_sea]I was first be happy to not have to pay more in taxes next year. Two seconds later I realized that I would be paying that with interest one way or another in the future anyway! So I don’t what the big deal is about.

If they had done it without adding to the deficit (in the long term) then I might have been impressed….[/quote]
+10.

This just added a trillion bucks to the deficit. Much bigger than TARP 1.

One of the little things in the law – the rich (and anyone else with a spare $10Million) can now gift their kids $10M, tax free. If they do it in the next 2 years. This is in addition to the estate tax changes… ($5M tax free.)

So if your older and may die in the next 2 years – you could give $15M to your kids tax free.

Now where did I put that spare $10 million….[/quote]

I have never agreed with the gift or estate tax. It is pure double taxation. Why should my kids have to pay taxes on money that I earned and paid taxes on already? The answer is not more taxes. The answer is less government spending.

[GoUSC]

[quote=UCGal][quote=enron_by_the_sea]I was first be happy to not have to pay more in taxes next year. Two seconds later I realized that I would be paying that with interest one way or another in the future anyway! So I don’t what the big deal is about.

If they had done it without adding to the deficit (in the long term) then I might have been impressed….[/quote]
+10.

This just added a trillion bucks to the deficit. Much bigger than TARP 1.

One of the little things in the law – the rich (and anyone else with a spare $10Million) can now gift their kids $10M, tax free. If they do it in the next 2 years. This is in addition to the estate tax changes… ($5M tax free.)

So if your older and may die in the next 2 years – you could give $15M to your kids tax free.

Now where did I put that spare $10 million….[/quote]

I have never agreed with the gift or estate tax. It is pure double taxation. Why should my kids have to pay taxes on money that I earned and paid taxes on already? The answer is not more taxes. The answer is less government spending.

[Author]

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