Advertisement

Drudge Retort: The Other Side of the News
Sunday, September 26, 2021

Robin Kaiser-Schatzlein: Most people have probably never heard of a "stepped up basis," but it might just be the most important tax loophole in America -- one that billionaires use to pass vast sums of wealth down to their heirs by avoiding capital gains taxes.

More

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

This is why it's critical we have a massive estate tax on billionaires.

#1 | Posted by Tor at 2021-09-26 11:06 PM | Reply

#1 I think estate taxes are too easy to avoid if you hire tax lawyers and setup perpetual trusts etc.

Asset taxes are the way to fairly ensure those that benefit from the US contribute to supporting it, proportional to the benefit they get.
This would also tamp down some of the property speculation that is putting home ownership out of reach for many people starting out without help from rich parents.

#2 | Posted by bored at 2021-09-27 09:32 AM | Reply

The best way to avoid jealousy and envy is to start your own business.
Then the tax breaks and loopholes will seem much nicer.

#3 | Posted by phesterOBoyle at 2021-09-27 10:09 AM | Reply

Is that how you did it PhesterOBoyle?

I don't really see you as the entrepreneurial type.

I see you as the jealous type who projects all your negative emotions onto liberals because you hate them for their freedoms.

#4 | Posted by snoofy at 2021-09-27 10:14 AM | Reply | Funny: 1 | Newsworthy 1

Some how I don't think perpetual trust reform will be on the Democratic agenda anytime ever.

#5 | Posted by visitor_ at 2021-09-27 11:20 AM | Reply

The people who pay politicians can't be touched. Simple as that. Money wins. You lose. But you are free to buy a gun and shoot others and then yourself on the way out.

#6 | Posted by Brennnn at 2021-09-27 12:55 PM | Reply

The best way to avoid jealousy and envy is to start your own business.
Then the tax breaks and loopholes will seem much nicer.

#3 | Posted by phesterOBoyle

I'm not JEALOUS that the rich bribe politicians to rewrite the rules in their favor anymore than I'm JEALOUS that OJ got away with murder.

Pointing out injustice doesn't mean you're jealous of it.

You should look in the mirror as ask yourself why you defend injustice.

#7 | Posted by SpeakSoftly at 2021-09-27 03:03 PM | Reply | Newsworthy 1

#3 Ah ignorant one. I have several businesses and I fully utilize the massive holes in the tax system. I pay less in taxes than a min wage slave.

I just think that it is crazy for employees to willingly pay much more in taxes than people like me. I am certain most would be outraged if they knew how much better a deal I get.

The really rich can get almost unlimited very low interest rate loans that they use to invest. Those assets are protected by tax payer funded services like FEC, FBI, police, etc. But assets and their income are lightly taxed, if at all.

Why to regular people agree to an aristocratic system like that?

#8 | Posted by bored at 2021-09-27 03:09 PM | Reply

Why to regular people agree to an aristocratic system like that?

#8 | Posted by bored

Because morons are easily brainwashed by aristocrats. All the aristocrats have to do is tell them that their problems are caused by immigrants and minorities and morons will hate those groups instead of the aristocrats who are actually causing the suffering.

#9 | Posted by SpeakSoftly at 2021-09-27 03:59 PM | Reply | Newsworthy 1

#8 - "Why to regular people agree to an aristocratic system like that?"

Judging by the cries for more taxes on the rich, I don't think they do. Our lawmakers have made tax laws that favor the rich, enabling the class divisions we see growing in this country.

#10 | Posted by jakester at 2021-09-27 04:03 PM | Reply

#9 Exactly. Maybe someone can explain their support for this system when they are victimized by it. I just see ignorance or stupidity.

#11 | Posted by bored at 2021-09-27 04:05 PM | Reply

Judging by the cries for more taxes on the rich, I don't think they do. Our lawmakers have made tax laws that favor the rich, enabling the class divisions we see growing in this country.

#10 | Posted by jakester

yet every day you're here arguing on behalf of the party that wants more for the rich.

#12 | Posted by SpeakSoftly at 2021-09-27 05:04 PM | Reply | Newsworthy 1

"We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both."

Justice Louis D. Brandeis, US Supreme Court

#13 | Posted by SomebodyElse at 2021-09-27 06:40 PM | Reply | Newsworthy 3

All for vun. ... Vun for all

CCP from the communist manifesto

#14 | Posted by phesterOBoyle at 2021-09-28 06:04 AM | Reply

#12 Democrats have become the party of the rich. They are more invested in crony capitalism now than the GOP and that is really saying something.

#15 | Posted by BellRinger at 2021-09-28 10:49 AM | Reply | Funny: 1

#12 Democrats have become the party of the rich. They are more invested in crony capitalism now than the GOP and that is really saying something.

#15 | Posted by BellRinger a

Democrats are the party of rich people who are willing to pay more to help their society.

Republicans are the party of rich people who are so endlessly greedy that they're willing to fund fascism and destroy the country for some tax cuts.

#16 | Posted by SpeakSoftly at 2021-09-28 01:03 PM | Reply

Comments are closed for this entry.

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2021 World Readable

Drudge Retort