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View Diary: If you don't have kids you have no value to society (301 comments)

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  •  I favor a slightly (but only slightly) modified (8+ / 0-)

    100% Estate Tax. How much economic viability do we lose as a society by not shaking up ownership of our productive resources every generation or so? So much of the best stuff gets stuck in the hands of numbnutz who have no desire to engage in active management, and who would fail miserably even if they tried. Management, then, is left in the hands of fiduciaries whose only charge is to not dissipate the principal.

    There can be no protection locally if we're content to ignore the fact that there are no controls globally.

    by oldpotsmuggler on Sat Jan 12, 2013 at 07:56:18 PM PST

    [ Parent ]

    •  Agree on 100% Estate Tax (4+ / 0-)

      May not produce a ton of revenue, but would cut back on, well, the most annoying type of rich person, that entitled child of privilege.

      Republican Platform = Fear, Anger, and Hate. Oddly their God preached against those very traits.

      by TexDemAtty on Sat Jan 12, 2013 at 09:49:01 PM PST

      [ Parent ]

    •  some assets are inefficently cashed out/in. (0+ / 0-)

      illiquidity. inadequately fungible. etc

      of course at 100% tax rate, only government cares about the liquidation value...

      ♥ Repeal the Capital Gains, Carried Interest & Dividends Entitlements bequeathed to 'more special' taxpayers.

      by in on Sat Jan 12, 2013 at 11:16:47 PM PST

      [ Parent ]

      •  If it's 100% it doesn't have to be cashed out at (0+ / 0-)

        all, title could just be surrendered. Realistically, though, most transfers will occur pre death, and we wouldn't have dead people running such a huge chunk of our economy.

        There can be no protection locally if we're content to ignore the fact that there are no controls globally.

        by oldpotsmuggler on Sun Jan 13, 2013 at 07:30:39 AM PST

        [ Parent ]

    •  I would exempt: (0+ / 0-)

      1) One residence and the personal effects contained therein

      2) One farm or ranch, up to some reasonable number of acres, including all buildings, livestock, and farm equipment

      3) All pets

      4) Up to around $100,000 in cash or investments

      I'd also defer the tax on any amount of money placed in a trust for the care of a disabled relative.

      "Let’s just move on, treat everybody with firmness, fairness, dignity, compassion and respect. Let’s be Marines." - Sgt. Maj Michael Barrett on DADT repeal

      by kyril on Sun Jan 13, 2013 at 06:33:19 AM PST

      [ Parent ]

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