Fewell733 Posted December 3, 2009 Posted December 3, 2009 that tax isn't even high historically. Personally I don't mind taxes that try and avoid aristocracies by taxing the extremely rich dead.
Coach55 Posted December 3, 2009 Posted December 3, 2009 Regardless of the ramifications on the Bills, that is just a ridiculous, ridiculous tax. You work your entire life to create a substantial reserve to retire with, and leave to your family, and the Gov gets 45% fanfriggentastic This tax is meaningless to 99% of Americans. The taxes are only the portion of an estate that is over $3.5mm. The interesting thing is the majority people who have that much at retirement are actually for the tax. However the majority of the 99% of the Americans who this tax doesn't affect are against it. People are scared the government is going to "take away the american dream". Personally, I am anti-gov't and against most taxes, so this falls in that category.
Boatdrinks Posted December 3, 2009 Posted December 3, 2009 This tax is meaningless to 99% of Americans. The taxes are only the portion of an estate that is over $3.5mm. The interesting thing is the majority people who have that much at retirement are actually for the tax. However the majority of the 99% of the Americans who this tax doesn't affect are against it. People are scared the government is going to "take away the american dream". Personally, I am anti-gov't and against most taxes, so this falls in that category. Exactly. People unfortunately have become conditioned by the very wealthy conservative commentators on TV and radio. They espouse fiscal positions that benefit only a few (top 1% of earners,etc) and obviously do not benefit those who are tuned in to those shows. They do this by lumping these views in with positions on hot button issues that average folks do care about like abortion, gay marriage,etc. They tie it in by claiming if you believe in this socially you must believe "this" financially. Too many of us have become sheep, alas this is better left for another board.... Anyway the tax will pretty much mean zilch to the Bills situation. I mean there was only one year without it and RW would have needed to pass in that year. He already said the team will be sold,anyway. The tax only applies if he left the team to his offspring, so it really is of no consequence.
BillnutinHouston Posted December 3, 2009 Posted December 3, 2009 Socialism has to be funded. Painful truth WORD
NewHampshireBillsFan Posted December 3, 2009 Posted December 3, 2009 It doesn't affect the Bills at all once RW dies. RW has already said that the team will be sold on his death, auctioned off. Once that sale is completed RW's heirs will get 55% and the govt. 45%. If RW's heirs had wanted to keep the team then this would be a big deal, but RW has already said that won't happen. Basically a law like this makes it necessary for one rich guy, upon death, to sell his team to another rich guy so the taxes can be paid.
Red Posted December 4, 2009 Posted December 4, 2009 I like that so many people get upset about a law that doesn't affect them or most people...at all.. That is an incredibly un-American thing to say. Next you'll be proposing that the First Amendment was a waste of time.
/dev/null Posted December 4, 2009 Posted December 4, 2009 Socialism has to be funded. Painful truth What happens when we run out of other people's money
tonyd19 Posted December 4, 2009 Posted December 4, 2009 Exactly. People unfortunately have become conditioned by the very wealthy conservative commentators on TV and radio. They espouse fiscal positions that benefit only a few (top 1% of earners,etc) and obviously do not benefit those who are tuned in to those shows. They do this by lumping these views in with positions on hot button issues that average folks do care about like abortion, gay marriage,etc. They tie it in by claiming if you believe in this socially you must believe "this" financially. Too many of us have become sheep, alas this is better left for another board.... Anyway the tax will pretty much mean zilch to the Bills situation. I mean there was only one year without it and RW would have needed to pass in that year. He already said the team will be sold,anyway. The tax only applies if he left the team to his offspring, so it really is of no consequence. WRONG, WRONG, WRONG, WRONG!!!!! How do you think the government gets their tax when the money is locked up in an illiquid asset like a business??? The business is sold, people lose their jobs, families are effected, and it happens everyday. It effects everyone. Your views are very miopic.
stuckincincy Posted December 4, 2009 Posted December 4, 2009 painful truth... if our gov't cut all programs today, it would still require you to pay out the ass for tax considering our current debt built up by the previous administration. So, it isn't just "socialism" as you put it That said a death tax is bull **** on the basis of double taxing money (assuming that the person got the money legally) The money that the schools and the teachers extract out of the hide of the tax-paying public is beyond obscene. Of course, that doesn't affect the projected 47% of the population who don't pay a lick. Taxation wisdom: http://jmm.aaa.net.au/articles/13052.htm
tonyd19 Posted December 4, 2009 Posted December 4, 2009 The money that the schools and the teachers extract out of the hide of the tax-paying public is beyond obscene. Of course, that doesn't affect the projected 47% of the population who don't pay a lick. Taxation wisdom: http://jmm.aaa.net.au/articles/13052.htm I've seen articles like this before in some degree or another. Everyone in the country should be required to read this, because it is very, very true. Despite your political affiliation, you cannot dispute the facts. Great find!
/dev/null Posted December 4, 2009 Posted December 4, 2009 People are moaning over the death tax (it's still free money for the beneficiary) yet no one is decrying the fact that the living individual making this money is having more than half of it stolen from them by various levels of government every year! I like that so many people get upset about a law that doesn't affect them or most people...at all.. -jeremy2020
flomoe Posted December 4, 2009 Posted December 4, 2009 People are moaning over the death tax (it's still free money for the beneficiary) yet no one is decrying the fact that the living individual making this money is having more than half of it stolen from them by various levels of government every year! How does this not bode well for the Wilson family? Those included in the will are going to be acutely richer than ever before--even after uncle Sam takes his half---just on the hundreds of millions Ralph has made off this team over the years. The team's going to be sold regardless, so they will be even richer after it's sold. So you're saying don't be successful and do the best for your family because every dollar you work your a$$ off for, the government will take 50% of it to give to the lowlifes of society who don't try to succeed. That is the socialist agenda and what is dividing this country faster than you can say revolution.
tonyd19 Posted December 4, 2009 Posted December 4, 2009 People are moaning over the death tax (it's still free money for the beneficiary) yet no one is decrying the fact that the living individual making this money is having more than half of it stolen from them by various levels of government every year! How does this not bode well for the Wilson family? Those included in the will are going to be acutely richer than ever before--even after uncle Sam takes his half---just on the hundreds of millions Ralph has made off this team over the years. The team's going to be sold regardless, so they will be even richer after it's sold. I am not understanding your math. How do you take a family legacy worth 1 billion, take 45% of it away to tax all of the assets that have already been taxed, and come up with more money for the family than the original amount? BTW Ralph has not made money off this team....He built the friggin team. He took all the risks when it started, he has employed thousands of Western New Yorkers, has paid millions and millions in taxes to the community,and has given Buffalo a sports identity despite the business climate collapsing around him. He deserves to have his business allocated to who he wants when he dies. Not have half of it stolen from him because the government is greedy.
flomoe Posted December 4, 2009 Posted December 4, 2009 I am not understanding your math. How do you take a family legacy worth 1 billion, take 45% of it away to tax all of the assets that have already been taxed, and come up with more money for the family than the original amount? BTW Ralph has not made money off this team....He built the friggin team. He took all the risks when it started, he has employed thousands of Western New Yorkers, has paid millions and millions in taxes to the community,and has given Buffalo a sports identity despite the business climate collapsing around him. He deserves to have his business allocated to who he wants when he dies. Not have half of it stolen from him because the government is greedy. EXACTLY
justnzane Posted December 4, 2009 Posted December 4, 2009 The money that the schools and the teachers extract out of the hide of the tax-paying public is beyond obscene. Of course, that doesn't affect the projected 47% of the population who don't pay a lick. Taxation wisdom: http://jmm.aaa.net.au/articles/13052.htm wait, you honestly believe that teachers are overpaid? yeah, a profession where you start off at $35,000/year (in some spots like Buffalo as low as 29k/year), where you are often forced to get your masters in order to keep your job after 5 years, and you have upwards of 35 kids in a classroom. Fact of the matter is that there are not enough teaching jobs that pay enough where the numbers of the kids isn't too high. Not too mention you have in some areas a culture against education, where the teacher is the bad guy. Teachers get paid among the worst amounts of cash for the education required for their career. Ideally, a teacher should start off at about 40-45k/yr. have classrooms with average size of 17-24 kids, and a great amount of support from the school's administration and the community. Unfortunately for a good amount of the country, all 3 of these ideals are far from the reality. WNY'ers can complain about their high education taxes, but the kids are generally intelligent enough to get into colleges at a higher rate than the rest of the country, and can go basically anywhere to get a job, except upstate New York. WNY'ers really need to get after the cronies that bleed money like a sieve in Erie County gov't without doing a damn thing.
stuckincincy Posted December 4, 2009 Posted December 4, 2009 wait, you honestly believe that teachers are overpaid? yeah, a profession where you start off at $35,000/year (in some spots like Buffalo as low as 29k/year), where you are often forced to get your masters in order to keep your job after 5 years, and you have upwards of 35 kids in a classroom. Fact of the matter is that there are not enough teaching jobs that pay enough where the numbers of the kids isn't too high. Not too mention you have in some areas a culture against education, where the teacher is the bad guy. Teachers get paid among the worst amounts of cash for the education required for their career. Ideally, a teacher should start off at about 40-45k/yr. have classrooms with average size of 17-24 kids, and a great amount of support from the school's administration and the community. Unfortunately for a good amount of the country, all 3 of these ideals are far from the reality. WNY'ers can complain about their high education taxes, but the kids are generally intelligent enough to get into colleges at a higher rate than the rest of the country, and can go basically anywhere to get a job, except upstate New York. WNY'ers really need to get after the cronies that bleed money like a sieve in Erie County gov't without doing a damn thing. My local school system put a property tax levy on the ballot for more $$$ five times in the last year and a half. This past November, this past August, this past May, and so on. Along the way, they did eliminate the position of "Director of Quality Assurance" - that job paid a mere $79K. The director had a staff of zero. The teachers absolutely exploit the children, and teach them greed. They send them all over town each time the levies come to the polls, shouting things like "give us more money!". Always accompanied by a union teacher, of course. After the previous tax increase levy passed - they spent 1.3 million on a new football stadium. The City of Cincinnati maintains a building, where they house teachers that have erred this or that way. On full pay - firing them is impossible. Of course, there are tons of "parents" that aren't worth 2 cents. They don't give a crap about their whelp'seducation. Cincy built a new school a couple of years ago, in response to the cries claiming that an old building was the cause of poor student results. The same kids moved back into the new school, and proceeded to rip the daylights out of it. No scholastic improvement, just the same vandalism and violence.
Thurman#1 Posted December 4, 2009 Posted December 4, 2009 Socialism has to be funded. Painful truth So does capitalism. Equally painful. Equally true.
Thurman#1 Posted December 4, 2009 Posted December 4, 2009 My local school system put a property tax levy on the ballot for more $$$ five times in the last year and a half. This past November, this past August, this past May, and so on. Along the way, they did eliminate the position of "Director of Quality Assurance" - that job paid a mere $79K. The director had a staff of zero. The teachers absolutely exploit the children, and teach them greed. They send them all over town each time the levies come to the polls, shouting things like "give us more money!". Always accompanied by a union teacher, of course. After the previous tax increase levy passed - they spent 1.3 million on a new football stadium. The City of Cincinnati maintains a building, where they house teachers that have erred this or that way. On full pay - firing them is impossible. Of course, there are tons of "parents" that aren't worth 2 cents. They don't give a crap about their whelp'seducation. Cincy built a new school a couple of years ago, in response to the cries claiming that an old building was the cause of poor student results. The same kids moved back into the new school, and proceeded to rip the daylights out of it. No scholastic improvement, just the same vandalism and violence. They had a position of Director of Quality Assurance? Why, that's horrific. There's no reason to assure the quality of education. Poorly educated children don't affect society in any negative way. We've got to save more money today so that society can pay for it tomorrow with poorly educated adults. That's the way to make sure America stays #1.
Mr. WEO Posted December 4, 2009 Posted December 4, 2009 I am not understanding your math. How do you take a family legacy worth 1 billion, take 45% of it away to tax all of the assets that have already been taxed, and come up with more money for the family than the original amount? BTW Ralph has not made money off this team....He built the friggin team. He took all the risks when it started, he has employed thousands of Western New Yorkers, has paid millions and millions in taxes to the community,and has given Buffalo a sports identity despite the business climate collapsing around him. He deserves to have his business allocated to who he wants when he dies. Not have half of it stolen from him because the government is greedy. Tony, flomoe, devnull---u all miss my point. I think the death tax should be abolished!!! But it remains a fact that the government is already taking more from you NOW, so it's harder to get as bent about what happen after you're gone. Go back and reread. Geez! Tony--your math is fuzzy. The heirs will immediately inherit Ralph's actual fortune--the hundreds of millions he has amassed, minus taxes. The Bills, whatever they re worth, are not liquid asset--in fact, until they are sold, they are of no value to the heirs-they are purely a tax liability. In others words, there is no "family legacy worth a billion"--yet. So.......if the team is sold for a billion (just for argument), the heirs will still have over half a billion more cash then they did after the day Ralphie died.
birdog1960 Posted December 4, 2009 Posted December 4, 2009 This game is so boring that i'm reading this thread instead. If ralph has to pay that tax and can't escape he could look at it like this: " I'm spending 55 cents on the dollar on the Bills while I'm alive...what a bargain, Ill get a 10 million dollar coach for 5.5 million"...but this is ralph...maybe not.
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