Chef Jim Posted January 20, 2012 Share Posted January 20, 2012 The B word is that the money some people get to invest is inherited. Oh wait, didn't the Death Tax go back into effect? Once again to be fair the exclusion on estate taxes is pretty high right now (I imagine it will be lowered quite a bit in 2013). Also people enjoy a step up in basis on inherited assets. So say mom and dad bought their home many years ago for $50k and it's worth $500k when they pass and you inherit it. You turn around and sell it for $500k and pay zero in cap gains. Also the converse could help too. Let's say the bought it at the peak for $500k and it's now worth $300k when you inherit it. You now have $200k in long term losses to carry forward or offset future long term gains. Link to comment Share on other sites More sharing options...
OCinBuffalo Posted January 20, 2012 Share Posted January 20, 2012 Once again to be fair the exclusion on estate taxes is pretty high right now (I imagine it will be lowered quite a bit in 2013). Also people enjoy a step up in basis on inherited assets. So say mom and dad bought their home many years ago for $50k and it's worth $500k when they pass and you inherit it. You turn around and sell it for $500k and pay zero in cap gains. Also the converse could help too. Let's say the bought it at the peak for $500k and it's now worth $300k when you inherit it. You now have $200k in long term losses to carry forward or offset future long term gains. Dude, you are ruining it for me. Dave was supposed to answer this, not somebody who actually knows WTF they are talking about. But, perhaps this is a good thing: perhaps Dave will realize that he's much better off getting his info from PPP than from Moveon.org. Yes, I am an optimist. Link to comment Share on other sites More sharing options...
Adam Posted January 20, 2012 Share Posted January 20, 2012 I think we should be taxed 100%. I know I can't be trusted to use my money wisely. Link to comment Share on other sites More sharing options...
/dev/null Posted January 20, 2012 Share Posted January 20, 2012 Dude, you are ruining it for me. Dave was supposed to answer this, not somebody who actually knows WTF they are talking about. But, perhaps this is a good thing: perhaps Dave will realize that he's much better off getting his info from PPP than from Moveon.org. Yes, I am an optimist. Dave's not here man Link to comment Share on other sites More sharing options...
B-Man Posted January 20, 2012 Share Posted January 20, 2012 "Irony can be pretty ironic sometimes " - Buck Murdock CARNEY CHIDES REPORTERS FOR BEING 'OBSESSED' WITH PRESIDENTIAL CAMPAIGN... President Obama's spokesman rebuked reporters for asking too many questions about the presidential campaign, as he implied that the journalists ought not challenge the idea that Obama is focused on governing, not his reelection. "You guys get that you're totally obsessed with campaign politics now, right, even though he doesn't have a primary contest?" White House Press Secretary said during the press briefing. Carney had faced a series of questions about Obama's recent campaign fundraisers. "[Obama] spends a relatively small amount of tme, at this stage, on campaign events," Carney said. "How can you continue to present this image that [Obama] is just focused on governing -- and the campaign is only a small part -- when he's holding fundraisers left and right?" Fox News' Ed Henry had asked earlier in the briefing. "Can't you also admit that he spends a significant amount of time campaigning?" Henry asked, noting that Obama has held 10 fundraisers in the last two weeks. Washington Examiner . Link to comment Share on other sites More sharing options...
3rdnlng Posted January 20, 2012 Share Posted January 20, 2012 To be fair they do have a $3000 per year capital loss they can deduct from their income. I've seen people that have enough capital losses to carry forward for several centuries. I was under the impression that it could only offset capital gains, but I'm sure you know more about it than I do. Link to comment Share on other sites More sharing options...
Chef Jim Posted January 20, 2012 Share Posted January 20, 2012 I was under the impression that it could only offset capital gains, but I'm sure you know more about it than I do. You can do either with your losses. Link to comment Share on other sites More sharing options...
Dave_In_Norfolk Posted January 20, 2012 Author Share Posted January 20, 2012 Collaspe! http://www.newsmax.com/InsideCover/gallup-romney-lead-collapsing/2012/01/20/id/424907 Romney in full retreat on all fronts! Link to comment Share on other sites More sharing options...
Chef Jim Posted January 20, 2012 Share Posted January 20, 2012 Collaspe! http://www.newsmax.c...01/20/id/424907 Romney in full retreat on all fronts! Yup, full retreat on all fronts for sure Davey. Link to comment Share on other sites More sharing options...
IDBillzFan Posted January 20, 2012 Share Posted January 20, 2012 Yup, full retreat on all fronts for sure Davey. If Romney falls another 20 points, he'll be closing on on Obama-level unpopularity. Link to comment Share on other sites More sharing options...
Dave_In_Norfolk Posted January 20, 2012 Author Share Posted January 20, 2012 If Romney falls another 20 points, he'll be closing on on Obama-level unpopularity. Maybe on this board. But people like you still think Obama lost in '08 and they just need to recount the votes. Hang in their tiger, they will count them soon! Link to comment Share on other sites More sharing options...
DC Tom Posted January 20, 2012 Share Posted January 20, 2012 Maybe on this board. But people like you still think Obama lost in '08 and they just need to recount the votes. Hang in their tiger, they will count them soon! I could write a computer program that would do nothing but post stupid **** randomly here for hours on end, and it would still make more sense than you do. Link to comment Share on other sites More sharing options...
3rdnlng Posted January 20, 2012 Share Posted January 20, 2012 Maybe on this board. But people like you still think Obama lost in '08 and they just need to recount the votes. Hang in their tiger, they will count them soon! http://chicago.cbslocal.com/2012/01/19/topinka-illinois-unpaid-bill-crisis-just-keeps-getting-worse/ Link to comment Share on other sites More sharing options...
....lybob Posted January 20, 2012 Share Posted January 20, 2012 I could write a computer program that would do nothing but post stupid **** randomly here for hours on end, and it would still make more sense than you do. your not a computer program? Link to comment Share on other sites More sharing options...
Magox Posted January 20, 2012 Share Posted January 20, 2012 your not a computer program? You're Link to comment Share on other sites More sharing options...
3rdnlng Posted January 20, 2012 Share Posted January 20, 2012 You're He can't "except" your nitpicking. Link to comment Share on other sites More sharing options...
Dave_In_Norfolk Posted January 20, 2012 Author Share Posted January 20, 2012 I could write a computer program that would do nothing but post stupid **** randomly here for hours on end, and it would still make more sense than you do. Oh STFU! You can sh. It and slid in it, that's about all. And why have a program blather on when you do it yourself every hour, everyday year after year? your not a computer program? Tommy-bot Link to comment Share on other sites More sharing options...
3rdnlng Posted January 20, 2012 Share Posted January 20, 2012 Oh STFU! You can sh. It and slid in it, that's about all. And why have a program blather on when you do it yourself every hour, everyday year after year? Tommy-bot http://specials.msn.com/a-list/news/colombian-rebels-cow-dung-psp Link to comment Share on other sites More sharing options...
DC Tom Posted January 21, 2012 Share Posted January 21, 2012 Oh STFU! You can sh. It and slid in it, that's about all. And why have a program blather on when you do it yourself every hour, everyday year after year? Because I couldn't write a program that would blather as incomprehensibly and inanely as you do. Didn't I already say that? Tommy-bot Oh, hey, that's original. Even when you're trying to be insulting, you can't manage an original thought. Link to comment Share on other sites More sharing options...
birdog1960 Posted January 21, 2012 Share Posted January 21, 2012 They'll read this just like they read the Health care bill. What a shame. Closing paragraph. Nice!! Reforming the tax code and entitlements would not only go a long way toward putting the budget on the path to balance and the economy on the path to prosperity; these reforms would also help promote upward mobility and equal opportunity for all Americans – core tenets of the American Idea. Thanks G. I read it. And some good points were made but to look at this data and conclude that The increasing disparity between the top and bottom/middle is primarily due to govt entitlements like ss, Medicare and ?Medicaid going to those who don't need it is lludicrous. I'm all for means testing but it will do little to change the worsening disparity between the classes and the virtual Loss of the middle class. . They mention corporate welfare as an asterisk..well hell yes! But where's the will to stop it? Ryan's as much a slave to his corporate sponsors as any of them. And this invocation of envy as the reason for actual anger at the same things mentioned as problems in this paper is all too convenient. I see it in the context of diminishing returns. I like to dabble in av stuff. Anybody with any measure of honesty and objectivity knows that one needs to spend multitudes more for slight differences in quality in this area. The Macintosh amp that' mitt never gets a chance to listen to is marginally superior or to my onkyo. Do i envy his ability to obtain it without a thought? Sorry, no. I enjoy working to make what I've got as excellent as it was designed to be. When I make my yearly pilgrimage out west for the adrenaline rush of a few black diamond runs on my old rossis and my target fleeces and shell I'm in actual pity for the bozo in the dayglo descente snowsuit and latest fat skis snoplowing awkwardly down a green run. Got many more examples but you get the point...appearances are just that. Substance is frequently divorced from net But keep telling yourselves it's all about envy. It's much easier to rationalize your position that way. Link to comment Share on other sites More sharing options...
Recommended Posts