Congress gives away 30 Billion dollars!!!!!

[etucker1959]

I know there is a lot of build up angst on here by the sultry responses given on other threads. So let's try a topic that is straight political. It's probably safe to say when the Presidential election comes up the majority of you will get behind the Republican candidate. If he were to win, what kind of bills would congress pass and the President would sign?????? I know many of you have expressed your displeasure with the state spending 60 Billion dollars on a high speed train. So how do you feel when Congress gives away 30 Billion dollars in revenue and get's nothing in return!!!! At least with the high speed train, "well we at least get a train!!!!!" lol

What I'm talking about is repealing the inheritance tax for Millionaires and Billionaires!!!! That to the tune of 30 Billion dollars which only effects 5,000 people. Yep you heard it straight 5,000 people!!!!!!!!! If that's not a repayment to all the wealthy donors to the Republican candidates, "I don't know what is!!!!!" There will only be a lot more of that type of thing in years to come!!!! Passing laws that favor the super rich donors, yet the little people will keep voting for these guys. The strange thing is, what do these same candidates promise to do to help the little guy???? Why only cut their entitlements!!!!!! That makes a lot of sense!!!!! Vote for people, who in turn who will vote against your own self interest!!!! Yet the super rich donors, EXPECT to get something back for their money they invest in their candidates!!!!!! Keep voting Republican and tell me what the working man is going to gain by doing that??????

[City Dad]

Whig party about to make some major inroads

[HawgZWylde]

Why would you consider earned money that's already possessed by a family and has already been subjected to income and capital gains taxes an entitlement? And how does a family's earned money affect the working man? And why is the working man entitled to some one Else's earned money? Basically, why is anybody entitled to anyone's money?

A woman is born and raised on a horse ranch that has been in the family for over a hundred and fifety years, the parents die and leave the ranch to their daughter. The daughter has no money to pay the inheritance tax and is forced to sell the ranch thus the family's legacy, home and hard work is lost. Why is that fair?

BTW, one more question. How is congress giving away money that is not theirs to begin with?

[HawgZWylde]

Whig party about to make some major inroads

Quagga mentioned the MWP a couple of years ago but seems to have forgotten about it...

[Brent]

Someone please go back and look at the taxation rates imposed after WWII and then get back to me. The 'good ole days' were only good because they taxed the crap out of the rich to rebuild our nation and slowly the rich have become more powerful and in favor and are now taking it all back. Once they're done taking it all back and then the working class gets milked out of everything they have. Then what? If history should be repeated again, then a revolution of some sort would be in order. Then the rich will be wiped out anyway. Why not tax them accordingly and not cause the entire system to collapse so they can keep their "billions". I mean good grief, how much money do you really need?
I'm not talking about taking it and 'giving' it away to 'lazy' people. Just putting our country to work rebuilding all of our infrastructure and how about free education through college for anyone who would like to get educated? Don't you think that may help with the "lazy" leeches they're so worried about. Oh. that's right, then they're kids would have to compete with smarter and hungrier kids than they do now. Ooops, my bad.

[Lady Quagga]

Quagga mentioned the MWP a couple of years ago but seems to have forgotten about it...

I've forgotten nothing.

[DEVOREFLYER]

The sad fact of the matter on taxes is you are being screwed by the government (Federal. State, Local) regardless of your income level. During my lifetime a number of “Tax Reforms” have been passed, most claiming a reduction of taxes while eliminating tax breaks. When you finally do the math it seems the government is always the winner and the taxpayer is always the loser. Once upon a time all interest on debt (All credit card interest, auto and loan finance charges) was a tax deductable item. And then there was the 3 year income averaging for those that had an above or below income event during 3 years (loss of job or large onetime bonus etc.).

If you took the time to examine all of the hidden and sometimes not hidden taxes and fees on everything in your everyday life you would choke. Look at all of the fees and taxes on any utility bill as an example.

And because this is a fishing web site my guess is most of you don’t know of the fishing equipment tax that is paid by manufacturers/importers of the fishing equipment we purchase. And the tax is on “Gross Sales” not on profit.

Sport Fishing Equipment
A tax of 10% of the sale price is imposed on
many articles of sport fishing equipment sold by
the manufacturer. This includes any parts or ac-
cessories sold on or in connection with the sale
of those articles.
Pay this tax with Form 720. No tax deposits
are required.

Sport fishing equipment includes all the fol-
lowing items.
1.
Fishing rods and poles (and component
parts), fishing reels, fly fishing lines, and
other fishing lines not over 130 pounds
test, fishing spears, spear guns, and spear
tips.

2.
Items of terminal tackle, including leaders,
artificial lures, artificial baits, artificial flies,
fishing hooks, bobbers, sinkers, snaps,
drayles, and swivels (but not including nat-
ural bait or any item of terminal tackle de-
signed for use and ordinarily used on fish-
ing lines not described in (1)).
3.

The following items of fishing supplies and
accessories: fish stringers, creels, bags,
baskets, and other containers designed to
hold fish, portable bait containers, fishing
vests, landing nets, gaff hooks, fishing
hook disgorgers, and dressing for fishing
lines and artificial flies.

4.
Fishing tip-ups and tilts.

5.
Fishing rod belts, fishing rodholders, fish-
ing harnesses, fish fighting chairs, fishing
outriggers, and fishing downriggers.

See Revenue Ruling 88-52 in Cumulative Bulle-
tin 1988-1 for a more complete description of
the items of taxable equipment.

Fishing rods and fishing poles.
The tax on
fishing rods and fishing poles (and component
parts) is 10% of the sales price not to exceed
$10 per article. The tax is paid by the manufac-
turer, producer, or importer.

Fishing tackle boxes.
The tax on fishing
tackle boxes is 3% of the sales price. The tax is
paid by the manufacturer, producer, or importer.

Electric outboard boat motors.
A tax of 3%
of the sale price is imposed on the sale by the
manufacturer of electric outboard motors. This
includes any parts or accessories sold on or in
connection with the sale of those articles.

[twin22s]

I agree with the argument that the money being handed down from one generation to the next, which has already been taxed when it was earned, and will be taxed when in is spent, should not be taxed when it is inherited. on another note about wasted money, forget the bullet train idea how about expanding the aqueduct and reservoir systems so that we can provide water to the people of California. I'm sure the Bako and AV guys would love to see that happen.

[HawgZWylde]

I've forgotten nothing.

Why LQ, I'm flattered that you would dress yourself in my clothes!!! Great to know I'm thoroughly in your head honey...

***By the way, that link you provide to a past thread? Interesting because that's not the response you initially gave. What's interesting is how you are able to change the post without the "reason for editing" tab at the bottom. You do this a lot...

[Stormcrow]

I've forgotten nothing.

Ohhhh...thanks quagga, there is my proof you asked for from the other thread....HA! ******* troll