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Rich stop paying social security

TurtleDude said:
that is because the very rich democrats are the ones leading the class war against the mere rich and upper middle classes. They pretend to speak for the parasite class and the ne'er do wells so as to ingratiate themselves to the masses while in reality seeking laws and policies that insulate their positions from competition.
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And just what laws/policies are you talking about?
 
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cpwill said:
A) I think you have me confused with someone else.
B) That doesn't mean that Boomers are going to get what they think they are going to get.
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I was confusing you with neothelosama or some name like that. I am 59 and one of the evil baby boomer's that has paid into SS all his life, what exactly is it I won't get in your opinion, really I am interested in your thoughts on this.
 
sawyerloggingon said:
I was confusing you with neothelosama or some name like that. I am 59 and one of the evil baby boomer's that has paid into SS all his life, what exactly is it I won't get in your opinion, really I am interested in your thoughts on this.
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I'm 5 years younger than you, I've worked since I was 15 years old, and I don't expect to ever see anything from SS. The money just won't be there without some major revisions and scaling back. I just don't think it will fly among the general populus or with our politicians.
 
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lizzie said:
I'm 5 years younger than you, I've worked since I was 15 years old, and I don't expect to ever see anything from SS. The money just won't be there without some major revisions and scaling back. I just don't think it will fly among the general populus or with our politicians.
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You are just a young chick, you should be out at a party or something, why are you even here?:)
 
sawyerloggingon said:
I was confusing you with neothelosama or some name like that. I am 59 and one of the evil baby boomer's that has paid into SS all his life, what exactly is it I won't get in your opinion, really I am interested in your thoughts on this.
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well, you paid in to SS... and then you spent the money the fund was dependent on on yourself. I'm not really sure why I and my children should be forced to cash your $2.3 Trillion bounced check so that your generation will never be forced to accept your own fiscal irresponsibility.

I don't know what you in particular will or will not get - I am not aware of your personal financial situation. I do know that expenditures on Medicare and Social Security will not be what boomers have voted for them to be, and I would suspect that we shall move to means-testing. Ultimately, Political Reality < Fiscal Reality.
 
TurtleDude said:
death taxes starting at estates of one million a year for starters
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Well there is no such thing as a death tax since dead people can not pay taxes. And even if there was a death tax how would that hinder competition?
 
cpwill said:
well, you paid in to SS... and then you spent the money the fund was dependent on on yourself. I'm not really sure why I and my children should be forced to cash your $2.3 Trillion bounced check so that your generation will never be forced to accept your own fiscal irresponsibility.

I don't know what you in particular will or will not get - I am not aware of your personal financial situation. I do know that expenditures on Medicare and Social Security will not be what boomers have voted for them to be, and I would suspect that we shall move to means-testing. Ultimately, Political Reality < Fiscal Reality.
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I agree there will have to be means testing but I am confused how you think I spent the money I contributed on myself, please elaborate,
.
 
sawyerloggingon said:
I was confusing you with neothelosama or some name like that.
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:lamo

I am 59 and one of the evil baby boomer's that has paid into SS all his life,
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YOU are not evil, sawyer. The program is. It conditions us all our lives to look forward to when we can FINALLY get "our" money back. What it actually does is feed us our own tail and, by the end, we're thankful for it.
 
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sawyerloggingon said:
I agree there will have to be means testing but I am confused how you think I spent the money I contributed on myself, please elaborate,
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the SS Trust Fund was supposed to hold the excess funds brought in by the FICA tax to pay for the boomers. Instead, they took it out of the Trust Fund and spent it as part of the General Budget. SS would be survivable into the 2030's if they were actually sitting on a $2.3 Trillion pile of cash. Instead all that money was spent years ago.
 
winston53660 said:
Well there is no such thing as a death tax since dead people can not pay taxes. And even if there was a death tax how would that hinder competition?
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its amusing watching a small cohort of leftwingers playing dumb on the term we all know refers to the beloved estate confiscation tax. If you are making billions your estate will regenerate in less than one lifespan of your heirs. If you have an estate of two million that you created by earned income which was taxed at 35% and you die somewhat young and the second mlllion is taxed at 55% as the dems want, its going to be tough to ever increase the family's wealth generation to generation
 
winston53660 said:
Well there is no such thing as a death tax since dead people can not pay taxes. And even if there was a death tax how would that hinder competition?
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it would wreck small family owned business' ability to compete against larger, publicly owned corporations.
 
cpwill said:
the SS Trust Fund was supposed to hold the excess funds brought in by the FICA tax to pay for the boomers. Instead, they took it out of the Trust Fund and spent it as part of the General Budget. SS would be survivable into the 2030's if they were actually sitting on a $2.3 Trillion pile of cash. Instead all that money was spent years ago.
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"they" being the politicians, you implied I personally spent it on myself. With that logic you are responsible for Obams 4 trillion debt, nice work buddy, LOL
 
TurtleDude said:
its amusing watching a small cohort of leftwingers playing dumb on the term we all know refers to the beloved estate confiscation tax. If you are making billions your estate will regenerate in less than one lifespan of your heirs. If you have an estate of two million that you created by earned income which was taxed at 35% and you die somewhat young and the second mlllion is taxed at 55% as the dems want, its going to be tough to ever increase the family's wealth generation to generation
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Taking away your hyperbolic cliche rhetoric you are now arguing for an estate tax on billionaires to increase competition, correct?
 
cpwill said:
it would wreck small family owned business' ability to compete against larger, publicly owned corporations.
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big developers and corporate farms love the death tax
 
winston53660 said:
Taking away your hyperbolic cliche rhetoric you are now arguing for an estate tax on billionaires to increase competition, correct?
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such an idiotic interpretation. get rid of the silly death tax and let the cream rise to the top
 
sawyerloggingon said:
"they" being the politicians, you implied I personally spent it on myself. With that logic you are responsible for Obams 4 trillion debt, nice work buddy, LOL
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I won't pretend that my generation has a good record thus far. We were raised badly, after all. :) But it's not as if we were the only ones voting Obama in '08 - that was ya'll as well.

But yes. Boomers wrote themselves ever-increasing checks for ever-increasing benefits while spending the emergency fund on their own favorite piece of government candy. Never before have we had a less responsible generation. I'll take care of my folks - I'll honor my father and my mother. And for those of you who are truly destitute, I am fine with doing everything that can be done. But for those of you who just want to keep up the free ride? Who - ridiculously - feel that you are owed my future, and my kids' futures, having already spent your own?

Sorry. That train's come to the end of it's track.
 
TurtleDude said:
such an idiotic interpretation. get rid of the silly death tax and let the cream rise to the top
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Oy vey you call people idiots yet only rely on cliche to support your position.
 
cpwill said:
I won't pretend that my generation has a good record thus far. We were raised badly, after all. :) But it's not as if we were the only ones voting Obama in '08 - that was ya'll as well.

But yes. Boomers wrote themselves ever-increasing checks for ever-increasing benefits while spending the emergency fund on their own favorite piece of government candy. Never before have we had a less responsible generation. I'll take care of my folks - I'll honor my father and my mother. And for those of you who are truly destitute, I am fine with doing everything that can be done. But for those of you who just want to keep up the free ride? Who - ridiculously - feel that you are owed my future, and my kids' futures, having already spent your own?

Sorry. That train's come to the end of it's track.
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You seem to think all boomer's are Dem, many of us were against the spending our government did but we were helpless to stop it as you and we still are under Obama, welcome to reality. Obama has put us further in debt than all the presidents in my life time put together and thats under your watch as you put it, maybe you need to climb down off that high horse.
 
cpwill said:
it would wreck small family owned business' ability to compete against larger, publicly owned corporations.
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Depends on you define small. And depends what year the owners' passed away.

The current year exemption more or less invalidates your argument. $10 million in exemption coupled with 25%~45% haircut adjustments on the value of family owned shares will likely cause virtually all small family owned businesses to escape the estate tax. Furthermore, proper estate planning can result in sizable amounts of shares being gifted to either irrevocable or intentionally defective trusts or directly to heirs bypassing the gift tax during life yet still gifting sizable amounts prior to haircut. It gets better when the family business is majority owned by a husband and wife where one substantially outlives the other.

Your blanket statement is just a blanket statement that incorporates essentially nothing involving proper estate planning. Small family business with proper estate planning should pay nothing if their planner is competent and if gifting starts early.

As for publicly traded, the estate tax is hardly their biggest concern. Wal-mart can crush family own businesses simply by how it operates its inventory. Wal-mart does not need the estate tax to do in family businesses.
 
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