OK:

We have a popular Democrat president at the end of the second term. He vetos a bill [estate tax] passed by a Republican controlled Congress which is narrowly directed to benefit a small but important [to the R] minority.

Does anyone else see the irony in this? Has anyone else lived through at least half of this century. We ol'folks can't take this playing with our minds.

Best wishes,,,,,

Z

-- Z1X4Y7 (Z1X4Y7@aol.com), August 31, 2000

Answers

I read this three times. I found it very confusing.

-- Brian McLaughlin (brianm@ims.com), August 31, 2000.

Brian:

You are one of us; think about it. I will be in Oregon looking at your salmon problem on 2 Sep.

Best wishes,,,,

Z

-- Z1X4Y7 (Z1X4Y7@aol.com), August 31, 2000.

>> I will be in Oregon looking at your salmon problem on 2 Sep. <<

Will I have to wear one of those drafty hospital gowns that don't close in the back? I hate those.

-- Brian McLaughlin (brianm@ims.com), August 31, 2000.

Brian:

I hope not. I have seen too many disgusting things in the last few months. This is not a comment on you. :^).

This will be streams, development, etc.

Best wishes,,,

Z

-- Z1X4Y7 (Z1X4Y7@aol.com), August 31, 2000.

You are more than just confused, you're dumb too. Democrats oppose giving more tax breaks to the very rich. Always have, always will. Get a clue.

-- (what.planet@are.you.from), August 31, 2000.

Unfortunately the death tax will affect many more people by the time I retire. $1.2M is not very much money when you consider the rise in the cost of your house, small businesses that may be inherited and the 401Ks and IRAs that have accumulated thousands per year with 10% interest. It's no longer a tax on the rich but on ordinary folks.

Further, this tax is a tax on a tax. Yeah I know, nothing new; a piece of bread has been taxed up the wahzoo by the time it reaches your table. But why should the gov get money because a married couple left their estate to their children? The gov has no right to this money.

-- Maria (anon@ymous.com), September 01, 2000.

Maria:

What do you think about the proposed change in the capital gains tax on inherited property? Just wondered.

Best wishes,,,,

Z

-- Z1X4Y7 (Z1X4Y7@aol.com), September 01, 2000.

What planet:

You are more than just confused, you're dumb too.

Like being called ugly by a toad. Lot of toads around here lately. People who don't want to discuss facts. Just call names. Well have to go inspect Oregon.

Best wishes,,,,

Z

-- Z1X4Y7 (Z1X4Y7@aol.com), September 01, 2000.

Clinton did not veto the tax you idiot, he vetoed a REPEAL of the tax. Why is this "ironic" coming from a Democrat president? If you really want to be as smart as you think you are, you should start by learning how to read.

-- (what.planet@are.you.on), September 02, 2000.

Planet:

Devil is in the details. Read the whole bill and accompanying bills. Out of here.

Z

-- Z1X4Y7 (Z1X4Y7@aol.com), September 02, 2000.

One thing about confusion is that....you get used to it eventually.

=0P ----> perpetually blonde and loving it!

-- cin (cin@cinn.cin), September 02, 2000.

Good for Clinton! Set up a Living Trust and you don't have to worry about taxes so much.

-- gilda (jess@listbot.com), September 02, 2000.

Gilda--

Living Trusts enable you to bypass Probate, not taxes.

Z--

I don't see any irony here. What is it?

-- Lars (lars@indy.net), September 02, 2000.

Z thinks he is intelligent, that's the irony. ROTFL!!

-- (z.the@smartass.twerp), September 02, 2000.

sqwawk is a pissant coward.

-- Andy Ray (andyman633@hotmail.com), September 02, 2000.

Hi, Gilda,

I've been a bit busy lately, and haven't had too much time to be online.

Do you want to explain to Lars how a living trust can save on estate taxes, or should I?

I want to also say that the bill being discussed here certainly IS a tax bill designed to benefit the rich! Maria, 1.2 million is actually considered a lot of money by the average person. Sure, in the future, if we keep experiencing major inflation (I know, I know - we aren't having major inflation, they say) more and more of us will acrue estates that surpas this level. But the fact is, the exemption on the estate tax (currently at $600,000 for one person, which enables a married couple to exempt 1.2 million if they utilize a living trust) keeps going up and up. The bill Clinton vetoed (no pun intended) would totally eliminate the estate tax. Why not just raise the exemption a bit more, if the idea is truly to protect mid income folks?

JOJ

-- jumpoffjoe (jumpoff@echoweb.net), September 02, 2000.

JOJ or Gilda--

Be my guest. I would like to know how that works. I am worth several billion dollars and I want to split my estate among members of this forum without the pols getting any.

-- Lars (lars@indy.net), September 02, 2000.

Lars, this is a very simple thing to do.

I don't personally need any of your money; I'm a billionaire as well. However, just to prove that you're not bullshitting me, please send me a check for a mere 1% of your total wealth (the physical kind, that is). A cashier's check will do nicely.

When I receive this, I will tell you how to split your wealth among the contributors to the board.

PS, please send this soon, as I need to buy some groceries soon.

JOJ

-- jumpoffjoe (jumpoff@echoweb.net), September 03, 2000.

I can relate guys. I'm a billionaire too, that's why I spend all of my time jerking off on this forum with a bunch of idiots. If I was to travel and do fun things or intelligent things, people might figure out that I have loads of money and then they would try to get some of it from me. This is a good disguise.

-- Donald Rump (good.friend@of.Bill.Gates), September 03, 2000.

Z, I think they should do away with it.

JJoe, $600,000 isn't a whole lot of money. My SO's mother lived on welfare for a time, worked her whole life and had very little money, didn't even own a washer and dryer. She sold her house when she retired and now has $500,000 by putting the money into wise investments. So if a poor person could have close to the $600k limit, what could your average person have? I know of a few other poor little old ladies who now are doing OK for themselves.

A living trust avoids probate, a very good feature. It also enables $1.2M to come to the kids tax free as opposed to $600k when one parent dies.

-- Maria (anon@ymous.com), September 05, 2000.

$600,000 isn't a whole lot of money --- Maria

Excuse me? Pardon me? Have my bleary eyes misread your statement? This figure denotes a few hundred thousand dollars more than I have earned in my lifetime! I realize I reside at the lower end of the econimic ladder, but I know MANY people who earn the same or fewer $$$ than I do.

Whew!!! God Bless anyone whose earned that kinda wealth. No offense intended, Maria. Ya just blew my doors off with that statement.

-- Bingo1 (howe9@shentel.net), September 05, 2000.

Bingo, geez the way you put it, it sounds like a lot but it really isn't... obviously you don't own real estate or don't have a 401K or IRA. If you put away $167 per month starting at the age of 20, earning an average of 10% in stocks, you end up with over $1M by age 60. Yeah, $600,00 is not a whole lot of money.

-- Maria (anon@ymous.com), September 05, 2000.

It sounds like a lot of money cause it is a lot of money! Look, when I was 20 years of age I could buy an ounce of primo sinsemillia or Buddha Thai for $150, break it up into dime bags for local corner, uh, distribution and keep nearly 1/2 ounce for my head. 401K?

Sixteen years later...I do not own real estate nor have a 401K (nor a head to feed). You are correct. I do own (outright) an eleven-year- old Honda, a seven-year-old Black Lab/Dalmation and two other relatively low mileage pets. $600,000 IS a lot of money to me.

I should state here I am NOT in favor of estate taxation. The .gov needs to have its collective hand slapped. Stealing from the dead is not what I call evolved activity. It is a greedy, insensitive money grab. Furthermore, I see it as redistribution of wealth.

Kids, I have no problems with you all wanting to supply medical marijuana to your friendly neighborhood glaucoma sufferers as I did. Just take Maria's advice and setup a 401K so you can sock away a million big-ones for retirement.

-- Bingo1 (howe9@shentel.net), September 05, 2000.

Bingo, I guess you need a good financial planner and stop buying stuff for your head. :o

-- Maria (anon@ymous.com), September 05, 2000.

I need to marry into wealth, Maria. ;^)

At my rate of saving I'll be lucky to afford kibbles in my retirement. No, not for Bingo Jr., but for me. Rumor has it they aren't so bad softened in a little warm water.

BTW, I stopped carrying expensive habits a decade ago, the exception being tobacco, which I kicked back on May 3rd of this year.

-- Bingo1 (howe9@shentel.net), September 05, 2000.

We tried those milkbone dog biscuits when we were kids. They really weren't too bad. =)

-- cin (cin@cinn.cin), September 05, 2000.