U.S. House passes estate tax repeal

[Roland Deschain]

My point, farm equipment depreciates, land values can and have gone down, most of these are not paid in cash anyways, there are liens.

No liens if it is paid off, and I guess you missed that part about where the estate value is figured based off of cost basis. Point being is you libtards are having a hissy fit over a subject you are ignorant on!!

[bannination]

And you would be extremely INCORRECT. You should educate yourself before discussing this with someone who lives with an estates and trusts paralegal. Just saying!

Here's how this works in reality -- when you provide evidence to the contrary I'll be incorrect. For now, you're incorrect.

Only roughly 20 small business and small farm estates nationwide owed any estate tax in 2013, according to TPC.[10] TPC’s analysis defined a small-business or small farm estate as one with more than half its value in a farm or business and with the farm or business assets valued at less than $5 million. Furthermore, TPC estimates those roughly 20 estates owed just 4.9 percent of their value in tax, on average.[11]

[bannination]

No liens if it is paid off, and I guess you missed that part about where the estate value is figured based off of cost basis. Point being is you libtards are having a hissy fit over a subject you are ignorant on!!

Yes. I am serious and if you had half of an ounce of knowledge about the subject you would know that I'm correct. You see "estates" are based on the TOTAL ASSEST holding of the decedent, not cash. Many if not most of you mid west farmers are land rich and cash poor but still would have been subject to the tax. It would surprise you just how many people here in WNC were subject to it.

Can't have it both ways dude, you're talking out both sides of your mouth.

[Roland Deschain]

And you would be extremely INCORRECT. You should educate yourself before discussing this with someone who lives with an estates and trusts paralegal. Just saying!

Here's how this works in reality -- when you provide evidence to the contrary I'll be incorrect. For now, you're incorrect.

Only roughly 20 small business and small farm estates nationwide owed any estate tax in 2013, according to TPC.[10] TPC’s analysis defined a small-business or small farm estate as one with more than half its value in a farm or business and with the farm or business assets valued at less than $5 million. Furthermore, TPC estimates those roughly 20 estates owed just 4.9 percent of their value in tax, on average.[11]

Just because some dude wrote it in a report doesn't make it fact. I prefer to work in REALITY and that is that there were at least three here in WNC n the last few months. So you gonna tell me that just the Henderson county area alone carries 15% of the NATIONS estate tax burden. Again you need to educate your self before arguing with someone who lives with one who does this EVERY DAY!!!!

[bannination]

And you would be extremely INCORRECT. You should educate yourself before discussing this with someone who lives with an estates and trusts paralegal. Just saying!

Here's how this works in reality -- when you provide evidence to the contrary I'll be incorrect. For now, you're incorrect.

Only roughly 20 small business and small farm estates nationwide owed any estate tax in 2013, according to TPC.[10] TPC’s analysis defined a small-business or small farm estate as one with more than half its value in a farm or business and with the farm or business assets valued at less than $5 million. Furthermore, TPC estimates those roughly 20 estates owed just 4.9 percent of their value in tax, on average.[11]

Just because some dude wrote it in a report doesn't make it fact. I prefer to work in REALITY and that is that there were at least three here in WNC n the last few months. So you gonna tell me that just the Henderson county area alone carries 15% of the NATIONS estate tax burden. Again you need to educate your self before arguing with someone who lives with one who does this EVERY DAY!!!!

That's fine, but when you provide no evidence I'm under no obligation to change my view based on hard facts that are available for public consumption.

That's just how it works.

[Roland Deschain]

No liens if it is paid off, and I guess you missed that part about where the estate value is figured based off of cost basis. Point being is you libtards are having a hissy fit over a subject you are ignorant on!!

Yes. I am serious and if you had half of an ounce of knowledge about the subject you would know that I'm correct. You see "estates" are based on the TOTAL ASSEST holding of the decedent, not cash. Many if not most of you mid west farmers are land rich and cash poor but still would have been subject to the tax. It would surprise you just how many people here in WNC were subject to it.

Can't have it both ways dude, you're talking out both sides of your mouth.

OMG are you that fucking stupid? Just because there is no lien does NOT mean it was paid in cash. It means any obligations to pay back a LOAN have been met. You are getting as good at twisting as vrede.

[Roland Deschain]

And you would be extremely INCORRECT. You should educate yourself before discussing this with someone who lives with an estates and trusts paralegal. Just saying!

Here's how this works in reality -- when you provide evidence to the contrary I'll be incorrect. For now, you're incorrect.

Only roughly 20 small business and small farm estates nationwide owed any estate tax in 2013, according to TPC.[10] TPC’s analysis defined a small-business or small farm estate as one with more than half its value in a farm or business and with the farm or business assets valued at less than $5 million. Furthermore, TPC estimates those roughly 20 estates owed just 4.9 percent of their value in tax, on average.[11]

Just because some dude wrote it in a report doesn't make it fact. I prefer to work in REALITY and that is that there were at least three here in WNC n the last few months. So you gonna tell me that just the Henderson county area alone carries 15% of the NATIONS estate tax burden. Again you need to educate your self before arguing with someone who lives with one who does this EVERY DAY!!!!

That's fine, but when you provide no evidence I'm under no obligation to change my view based on hard facts that are available for public consumption.

That's just how it works.

How fortunate for you that that evidence is protected under confidentiality agreements. However, your "hard facts" are just partial pieces of a MUCH larger puzzle that were cherry picked to support a report.

[GoCubsGo]

Yes. I am serious and if you had half of an ounce of knowledge about the subject you would know that I'm correct. You see "estates" are based on the TOTAL ASSEST holding of the decedent, not cash. Many if not most of you mid west farmers are land rich and cash poor but still would have been subject to the tax. It would surprise you just how many people here in WNC were subject to it.

Who was talking about cash? Not me. It's 5400 people it could affect. You're acting like every farmer in North Carolina is now getting a tax break when it couldn't be further from the truth.

From O Really's link:

Only roughly 20 small business and small farm estates nationwide owed any estate tax in 2013, according to the Tax Policy Center.

Those 20 estates owed just
4.9 percent of their value
in tax, on average.

Chances are there's no one even in NC it would affect.

And you would be extremely INCORRECT. You should educate yourself before discussing this with someone who lives with an estates and trusts paralegal. Just saying!

And I slept in a Holiday Inn Express last night, guess I'm an expert too

Heavy equipment is mostly financed and refinnanced, the interest is deductible as well as depreciation on the machinery. What's the cost value of a $100,000 combine after 20 years? It ain't $100,000, lien or no lien.

Show us some real world examples, otherwise you're just blowing your usual smoke.

[Colonel Taylor]

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
The funniest part of this entire thread is how hard liberal work at TAKING MONEY THAT OTHERS WORKED FOR.
Also I buy and sell land in three states including WNC you folk laughing at the price of land are completely clueless. I just sold one just under 5 acres with an old barn and falling down double wide for $175,000.00 that was bought about 10 years ago for 90,000.00. Yup land prices are falling all over. Involved in negotiations on another less then 5 acres once the state easement is figured in for well over a million.
Just keep laughing at yourself!
Why do you think everyone finances everything? I have not one bill owed to anyone and most folks I hang with don't either. You should know the joy of buying something with cash. Why would I want the banks as a partner?

[GoCubsGo]

This whole thread is pretty ludicrous anyway. This is just another "for show" vote by the House just like repeal Obamacare for the hundredth time (more taxpayer money wasted). It's not getting through the Senate or President.

FWIW, the death tax has been around since 1797, guess the founder's approved

http://www.heritage.org/research/report ... erspective

[Colonel Taylor]

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Yet another hateful bigoted liberal really no surprise to anyone. Why do libs here hate mexicans so much? I know they are hard working and that is against anything y'all want, you would rather keep them on the guvmit dole. How sad you are!
You have fallen right in to the vrede mold for sure. Have nothing to say so just go to the race card.

Ummm, so who here has defended a legal path to work for immigrant Hispanics? That would be me. Who has said time and again that the effort to deport is self-defeating because the US economy is too dependent on immigrant labor? That would be me. Who has defended "dream act" type laws to protect kids who grew up in the US and weren't at fault for their illegality? That would be me. Who worked for La Raza back in the day and for Henry B. Gonzales? That would be me, your local "hateful bigoted liberal."

You're the one who ridicules them every chance you get not me. It's your leader vrede who has said many times they are to dumb to learn so they need two teachers or a helper in their classrooms. It was the other liberal stinger who said many times that mexicans workers can't make a good living and you liberal yucked it up, still are. In fact a few other liberal said it just this past week or so.
So you could put on any act you want but you and the libs here are the ones who continually put them down.

[O Really]

It's your leader vrede who has said many times they are to dumb to learn so they need two teachers or a helper in their classrooms. :

So, Colonel, if you are 10 years old and find yourself in, say, Mexico, in school and your parents don't speak much Spanish, and most of your classmates and some teachers don't speak much English, would you consider yourself "dumb" because you need some additional help in the language?

BTW, I seriously doubt that Vrede ever once - much less "many times" said Mexicans were dumb - or even implied it. But thanks for keeping his memory alive.

[O Really]

$25,000 an acre for farmland here??? On the side if a mountain??
Offer that to any farmer and he'll take it with a smile on his face and trots off to the bank. And I'm sure that all those tractors and prayers (not to mention the land he could very well be upside down on) were paid in cash !!

Doesn't matter how they were paid. If there is no lien on the equipment then it is considered an asset to the estate. In addition the real estate value is calculated off of the cost basis which is an entirely different set of figures. Really, ya'll should at least know what you are talking about before trying to argue this!

My point, farm equipment depreciates, land values can and have gone down, most of these are not paid in cash anyways, there are liens.

Wouldn't most of these big farms be corporations? I doubt the value of a major farm is personally held. And if it is, the farmer needs to find a good tax guy.

[Colonel Taylor]

It's your leader vrede who has said many times they are to dumb to learn so they need two teachers or a helper in their classrooms. :

So, Colonel, if you are 10 years old and find yourself in, say, Mexico, in school and your parents don't speak much Spanish, and most of your classmates and some teachers don't speak much English, would you consider yourself "dumb" because you need some additional help in the language?

BTW, I seriously doubt that Vrede ever once - much less "many times" said Mexicans were dumb - or even implied it. But thanks for keeping his memory alive.

Life is full of choices and I would never put my family in that situation. IF IT WAS NECESSARY I would teach then or learn the language before I got their. I have relatives from Europe who went to different clubs/organizations I guess you can call them and learned on their own.
Second I never said they were dumb that's why it's hilarious that they were called dumb by your liberal friends.

[Roland Deschain]

And I slept in a Holiday Inn Express last night, guess I'm an expert too

Heavy equipment is mostly financed and refinnanced, the interest is deductible as well as depreciation on the machinery. What's the cost value of a $100,000 combine after 20 years? It ain't $100,000, lien or no lien.

Show us some real world examples, otherwise you're just blowing your usual smoke.

Tell you what smart ass...why dont you explain how to figure the cost BASIS on that combine first and then we can talk about what its value is.

[O Really]

Life is full of choices and I would never put my family in that situation. IF IT WAS NECESSARY I would teach then or learn the language before I got their. I have relatives from Europe who went to different clubs/organizations I guess you can call them and learned on their own.
Second I never said they were dumb that's why it's hilarious that they were called dumb by your liberal friends.

Not the point, sir. My premise was if you were 10 years old in a class full of people speaking a language you didn't understand, would you consider yourself dumb because you needed additional language assistance? I'd think not.

[GoCubsGo]

And I slept in a Holiday Inn Express last night, guess I'm an expert too

Heavy equipment is mostly financed and refinnanced, the interest is deductible as well as depreciation on the machinery. What's the cost value of a $100,000 combine after 20 years? It ain't $100,000, lien or no lien.

Show us some real world examples, otherwise you're just blowing your usual smoke.

Tell you what smart ass...why dont you explain how to figure the cost BASIS on that combine first and then we can talk about what its value is.

Sure, right after you show me you are qualified to talk as an expert on the subject in any form other than I sleep with a paralegal who actually isn't an expert either.

[GoCubsGo]

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
The funniest part of this entire thread is how hard liberal work at TAKING MONEY THAT OTHERS WORKED FOR.
Also I buy and sell land in three states including WNC you folk laughing at the price of land are completely clueless. I just sold one just under 5 acres with an old barn and falling down double wide for $175,000.00 that was bought about 10 years ago for 90,000.00. Yup land prices are falling all over. Involved in negotiations on another less then 5 acres once the state easement is figured in for well over a million.
Just keep laughing at yourself!
Why do you think everyone finances everything? I have not one bill owed to anyone and most folks I hang with don't either. You should know the joy of buying something with cash. Why would I want the banks as a partner?

So that was for farmland on the side of a mountain? Arm's length transaction?

[Colonel Taylor]

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
The funniest part of this entire thread is how hard liberal work at TAKING MONEY THAT OTHERS WORKED FOR.
Also I buy and sell land in three states including WNC you folk laughing at the price of land are completely clueless. I just sold one just under 5 acres with an old barn and falling down double wide for $175,000.00 that was bought about 10 years ago for 90,000.00. Yup land prices are falling all over. Involved in negotiations on another less then 5 acres once the state easement is figured in for well over a million.
Just keep laughing at yourself!
Why do you think everyone finances everything? I have not one bill owed to anyone and most folks I hang with don't either. You should know the joy of buying something with cash. Why would I want the banks as a partner?

So that was for farmland on the side of a mountain?

Sure was, part of a much bigger apple orchard probably less 30-40 acres overall divided up.

[Roland Deschain]

Wouldn't most of these big farms be corporations? I doubt the value of a major farm is personally held. And if it is, the farmer needs to find a good tax guy.

So they can then pay the higher CORPORATE tax rate as opposed to an individual income rate? Id fire my tax guy if I was just a farmer working a couple hundred acres in Iowa and he suggested I form a corporation.