dajo9 said:

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I'll answer both your posts here. Thank you for providing a specific, substantial cut. That is more than I usually get from MAGA. Unfortunately it is inadequate. The entire defense budget is about $1 trillion and our annual deficit is about $2 trillion. If you cut defense in half (which is politically impossible) 75% of the problem still exists.

1. American's aren't taxed twice on their assets. They are taxed on income. An Estate Tax doesn't tax somebody twice as the previous holder is dead.

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Perhaps I used the wrong word when I said assets.
They are first taxed on their income and then taxed again on their assets when they die.

I will simply say the following . . .

The fact of the matter is that the person who is dead is having his money taxed AGAIN by the Govt even though it is now technically part of an Estate.

I've made a lot of money in the last 15 years with two highly speculative and risky investments that no one was "backstopping" me on. I took that risk. Not the government.

Period.

I am paying my fair share of long-term capital gains taxes on (one) of those investments.
The other is still open and outstanding.

If I pass away tomorrow, two-thirds of my "wealth" would be subject to taxes under the proposals of people like Bernie Sanders and Elizabeth Warren to be redistributed.

Currently, anything under $15 million is exempt from a 40% federal tax.

Bernie Sanders wants to take us back to 2009.
Never mind that $3.5 million back then is roughly $5.5 million today.

I'm sure that there are a number of families here in the East Bay within a short dirve of the Cal campus that don't believe they are in the typical Sanders/Warren "wealth" category given that the home they live in happens to cost half of that $3.5 million.

And to think that Democrats wanted their own Joe Rogan when they could have just had Joe Rogan if it weren't for the fact that they can't tolerate even one iota of criticism of their party

But no, we can't tax people on their excessive wealth. That would be un-American.

Quote:

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What if there's no more poverty? We could've already done that. But you would have to get all those rich people that are in charge of industry and running corporations and in government to agree to make the world a better place for everybody"

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Joe Rogan: “Just imagine how much less crime there would be if no one was ever starving, no one was ever desperate, no one was ever worried about where their next meal was gonna come from or whether or not they’re gonna have a roof over their head. What if there’s no more… pic.twitter.com/iNTScyiCnZ

— Marco Foster (@MarcoFoster_) September 1, 2026

LOL at the guy at the end. "That ain't ever gonna happen."

Thought I would post something about the ECONOMY since this is the ECONOMY thread.

The Bond Market is the ultimate barometer.

Anyone want to pay nearly 7% for a 30 year mortgage?

DiabloWags said:

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dajo9 said:

---

I'll answer both your posts here. Thank you for providing a specific, substantial cut. That is more than I usually get from MAGA. Unfortunately it is inadequate. The entire defense budget is about $1 trillion and our annual deficit is about $2 trillion. If you cut defense in half (which is politically impossible) 75% of the problem still exists.

1. American's aren't taxed twice on their assets. They are taxed on income. An Estate Tax doesn't tax somebody twice as the previous holder is dead.

---

Perhaps I used the wrong word when I said assets.
They are first taxed on their income and then taxed again on their assets when they die.

I will simply say the following . . .

The fact of the matter is that the person who is dead is having his money taxed AGAIN by the Govt even though it is now technically part of an Estate.

I've made a lot of money in the last 15 years with two highly speculative and risky investments that no one was "backstopping" me on. I took that risk. Not the government.

Period.

I am paying my fair share of long-term capital gains taxes on (one) of those investments.
The other is still open and outstanding.

If I pass away tomorrow, two-thirds of my "wealth" would be subject to taxes under the proposals of people like Bernie Sanders and Elizabeth Warren to be redistributed.

Currently, anything under $15 million is exempt from a 40% federal tax.

Bernie Sanders wants to take us back to 2009.
Never mind that $3.5 million back then is roughly $5.5 million today.

I'm sure that there are a number of families here in the East Bay within a short dirve of the Cal campus that don't believe they are in the typical Sanders/Warren "wealth" category given that the home they live in happens to cost half of that $3.5 million.

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So if a married couple dies with $10M their heirs get about $8.5M. A single person's heirs get about $6.25M.

That seems ballpark good.

dajo9 said:

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DiabloWags said:

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dajo9 said:

---

I'll answer both your posts here. Thank you for providing a specific, substantial cut. That is more than I usually get from MAGA. Unfortunately it is inadequate. The entire defense budget is about $1 trillion and our annual deficit is about $2 trillion. If you cut defense in half (which is politically impossible) 75% of the problem still exists.

1. American's aren't taxed twice on their assets. They are taxed on income. An Estate Tax doesn't tax somebody twice as the previous holder is dead.

---

Perhaps I used the wrong word when I said assets.
They are first taxed on their income and then taxed again on their assets when they die.

I will simply say the following . . .

The fact of the matter is that the person who is dead is having his money taxed AGAIN by the Govt even though it is now technically part of an Estate.

I've made a lot of money in the last 15 years with two highly speculative and risky investments that no one was "backstopping" me on. I took that risk. Not the government.

Period.

I am paying my fair share of long-term capital gains taxes on (one) of those investments.
The other is still open and outstanding.

If I pass away tomorrow, two-thirds of my "wealth" would be subject to taxes under the proposals of people like Bernie Sanders and Elizabeth Warren to be redistributed.

Currently, anything under $15 million is exempt from a 40% federal tax.

Bernie Sanders wants to take us back to 2009.
Never mind that $3.5 million back then is roughly $5.5 million today.

I'm sure that there are a number of families here in the East Bay within a short dirve of the Cal campus that don't believe they are in the typical Sanders/Warren "wealth" category given that the home they live in happens to cost half of that $3.5 million.

---

So if a married couple dies with $10M their heirs get about $8.5M. A single person's heirs get about $6.25M.

That seems ballpark good.

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I'm not following your math.

DiabloWags said:

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dajo9 said:

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DiabloWags said:

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dajo9 said:

---

I'll answer both your posts here. Thank you for providing a specific, substantial cut. That is more than I usually get from MAGA. Unfortunately it is inadequate. The entire defense budget is about $1 trillion and our annual deficit is about $2 trillion. If you cut defense in half (which is politically impossible) 75% of the problem still exists.

1. American's aren't taxed twice on their assets. They are taxed on income. An Estate Tax doesn't tax somebody twice as the previous holder is dead.

---

Perhaps I used the wrong word when I said assets.
They are first taxed on their income and then taxed again on their assets when they die.

I will simply say the following . . .

The fact of the matter is that the person who is dead is having his money taxed AGAIN by the Govt even though it is now technically part of an Estate.

I've made a lot of money in the last 15 years with two highly speculative and risky investments that no one was "backstopping" me on. I took that risk. Not the government.

Period.

I am paying my fair share of long-term capital gains taxes on (one) of those investments.
The other is still open and outstanding.

If I pass away tomorrow, two-thirds of my "wealth" would be subject to taxes under the proposals of people like Bernie Sanders and Elizabeth Warren to be redistributed.

Currently, anything under $15 million is exempt from a 40% federal tax.

Bernie Sanders wants to take us back to 2009.
Never mind that $3.5 million back then is roughly $5.5 million today.

I'm sure that there are a number of families here in the East Bay within a short dirve of the Cal campus that don't believe they are in the typical Sanders/Warren "wealth" category given that the home they live in happens to cost half of that $3.5 million.

---

So if a married couple dies with $10M their heirs get about $8.5M. A single person's heirs get about $6.25M.

That seems ballpark good.

---

I'm not following your math.

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The $3.5m you cite is for singles. Married couples is double to $7M. For the remaining $3M (of the total $10M estate) I estimated 50% tax = $1.5M tax and $8.5M inheritance.

For singles the remaining $6.5M I also estimated 50% tax = $3.25M tax and $6.75M inheritance.