Background checks

[JoshH34]

So since the govt is gonna do more extensive checks on people purchases firearms, does that mean the will do the same for illegal immigrants and people on welfare? I.e... People on welfare being illegal? Doing drugs? Cooking dope? Having a criminal background? Being worthless f***s? Just my two cents. I work hard for me and my family and my taxes go up to help provide for peoPle who refuse to help themselves. I am all for helping those in need, but 80% refuse to help themselves guaranteed.

[bscurdogs]

I hear ya brother

[mtarrant23]

I like this guy keep on preaching it

[dodgegirl]

AMEN my friend!!!!! This is perfect

[charles]

The answer is, NO. The more freeloaders n illegal immigrants this country takes on, the easier for the gov to say we need more taxes from you hard workin americans, the faster the middle class gets poorer n the fastr they can sell this country out to china.

[dub]

Live below your income. Start investing. Capital Gains Tax will always be lower than the upper tax rates because that is how the rich make money. Working income is always taxed more than rich income.

[Eric]

Live below your income. Start investing. Capital Gains Tax will always be lower than the upper tax rates because that is how the rich make money. Working income is always taxed more than rich income.

Capital Gains should be lower... actually its shouldn't be there at all. Its double taxation. The govt taxed you on the money when you earned it. Then you invested it and they taxed you again on what it earned.

Has nothing to do with rich or poor.

[RL]

Live below your income. Start investing. Capital Gains Tax will always be lower than the upper tax rates because that is how the rich make money. Working income is always taxed more than rich income.

Dub, this is outstanding advice.  It leads to happiness.

[RL]

Capital Gains should be lower... actually its shouldn't be there at all. Its double taxation. The govt taxed you on the money when you earned it. Then you invested it and they taxed you again on what it earned.

In some case this statement is true, but in many cases it isn't.  A blanket statement simply doesn't fit.

If you invest in stock, and the company you invested in paid income taxes, then some of the gain would be double taxation.  But let's say you invest in GE.  Your investment increases by 25% and you sell the stock.  GE has not paid income tax in recent years because of tax shelters, so your gain has not been double taxed.

Likewise let's assume you buy real estate.  It doubles in value and you sell it.  You are taxed on the gain and there has been no double taxation.

[matt_aggie04]

RL what is your opinion of the estate tax? 

[JRyanS]

As long as a Democrat is in office you probably wont see a difference in action taken against the "freeloaders" because that's the majority of the Democratic vote.

[Eric]

GE doesn't just not pay taxes because they don't want to. They have bought things that were write offs, deductions or tax credits associated with them. They didn't just pocket the money. They can buy assets a lot of time to increase their net worth rather than giving it to the govt. You or I can do the same.


Lower Capital Gains taxes promote savings. Its actually one way that the little man can get ahead. When people fall for the idea that only the rich use CG so lets tax it more they just got SUCKERED by......... you guessed it........ Mr Obama. People don't realize when they fall for this crap they close the "loop holes" for them selves also.

Same thing with the estate tax. The idea that you should have to pay taxes because you died is crazy. A lot of times that money has already been tazed 2, 3, 4 times.

[Bryant]

RL what is your opinion of the estate tax? 

Double taxation at it's finest.  

The $5.12 milllion per-person exclusion from federal estate and gift tax was set to expire on Dec. 31st and lower to $1 million.  In addition, taxes on transfers over that amount would increase to 55%.  RL--  Do you know if that was changed by the last minute "fiscal cliff" negotiations that took place?

[Eric]

Who has to pay federal estate tax?
Once you’re worth more than a certain amount, taxes shrink your estate. Under the 2010 tax law, we can each transfer up to $5 million tax-free during life or at death. That figure is called the basic exclusion amount, and it is adjusted for inflation. In 2012 it was raised to $5.12 million per person. The new tax law does not change how much you can pass tax-free. On Jan. 11 the IRS announced that, with the inflation adjustment, the estate tax exclusion amount for deaths in 2013 would be $5.25 million

http://www.forbes.com/sites/deborahljacobs/2013/01/02/after-the-fiscal-cliff-deal-estate-and-gift-tax-explained/

[RL]

The $5.12 milllion per-person exclusion from federal estate and gift tax was set to expire on Dec. 31st and lower to $1 million.  In addition, taxes on transfers over that amount would increase to 55%.  RL--  Do you know if that was changed by the last minute "fiscal cliff" negotiations that took place?

Yes, it was extended, made permanent, and indexed for inflation.  The 2013 Unfied Credit (amount that can be transferred without gift or estate tax) is $5,250,000 per person for lifetime gifts and estate transfers.  The portability of the Unified Credit is also made permanent, but you are still better off using a Credit Shelter Trust in your Will.  The tax rate now maxes out at 40%.

[matt_aggie04]

I know that 5.25 mil is a lot but I still just cant agree with a family accumulating wealth to 12-15 mil in assets and then the kids (lets use 2 for simplicity) have to pay 40% tax on everything over 10.5 mil.  On 15 mil value in assets and wealth they would have to come up with 1.8 mil cash just to keep what their parents have worked for.  Its robery in my opinion plain and simple.

[Eric]

I agree... There is nothing right about the estate tax. It's socialism... Highway robbery... What ever you want to call it. It's just wrong.