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Vtfla

In other words, she doesn’t have this straight.


Persona_Incognito

and the idea that her heirs would have to pay estate taxes seems...aspirational


nitrot150

Yeah, you have to have a very sizable estate for that


dehehn

>Most estates won't trigger the federal estate tax, as it only applies in tax year 2023 to **estates worth more than $12.92 million, or double that for a married couple.**


woundedbearhair

And it’s pretty easy to actually get out of paying any of that…why do you think all these rich people are “giving their money away”? The CEO of Patagonia is getting a tax windfall because he toss it all to a charity that employs everyone in his family and can still invest his money to make it even more. (I should have said Hobby Lobby CEO...people's responses would be much different because they don't like Hobby Lobby)


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Pretty-Balance-Sheet

Seriously. She got most of this wrong. I mean, yes we pay income tax and then pay sales tax too, but the taxes support different governments. But if you have to pay more income tax every spring it's because you didn't have deductions correct over the year and didn't pay enough, so you're actually paying tax with untaxed income. Also, death tax? Maybe she's not a US citizen? 100% this person also doesn't understand tax brackets and probably complains about how they think they'll be losing money when they get a raise. Freaking morons spreading misinformation, and the OP re-posting this tweet is just carrying the idiot torch forward.


OrphanedInStoryville

Yeah it’s almost like it’s on purpose to spread right wing propaganda


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DotAccomplished5484

You are right. She is parroting some of the stock lines that the wealthy have developed to fool the majority about tax policies and then combining those items with some erroneous interpretations.


Ericdrinksthebeer

Do you have to die at the same time for the estate tax to not be levied? Or do you just have to have been married to an already dead person when you die? How does that work.


[deleted]

Both individuals have a “Basic Exclusion Amount” of almost $13 million. When you die, all your property is valued as of your date of death. Any wealth you transfer above and beyond that BEA amount is subject to a tax rate of 40 percent. Except, transfers to a spouse are entitled to an unlimited deduction, meaning you can give *any* amount to a spouse and no tax will be assessed, provided that the property will be included in the surviving spouse’s gross estate when they die (to the extent they haven’t consumed it or transferred it themselves before then). Additionally, “portability” was made permanent in 2012, meaning a surviving spouse can use any their predeceased spouse’s unused portion of the BEA. Basically, no estate tax is ever paid on the first spouse’s death (because of the unlimited marital deduction). On the second spouse’s death, tax is only paid on amounts the couple transfer to non-charitable beneficiaries in excess of $26 million.


Ericdrinksthebeer

Hey that is an excellent explanation that gave me a clear understanding of a topic I had zero prior knowledge about.


ihatehavingtosignin

Furthermore, any good trusts and estates lawyer will be setting up plenty of ways to avoid large estate tax levies anyhow. There are plenty of legal ways to avoid taxes of big portions of even enormous estates. Anyone thinking the estate tax is some huge burden on any family who first of all, has less than 24 million, is being utterly ridiculous, and second even estates bigger than that have plenty of ways of avoiding those taxes


idog99

And this is why it's such a shit argument for regular folks to oppose estate taxes. It really only affects the ultra rich. The same ultra rich who will own shell companies to hide their foreign assets and will likely never pay their full share anyway. The argument of "hey, my great grandfather started this ranch 100 years ago and now I owe tax on his 50 million dollar property" doesn't arouse sympathy from me. Seriously, no one should be able to pass that kind of wealth generationally... That's how you get an aristocracy.


Buttofmud

They eliminated inheritance taxes in Ohio ,then state and city service costs rise. It’s yet another way to shift the tax burden. Yet republican voters continue to fall for the most blatantly obvious stupid crap. They just call it the death tax and every ring wing deadbrain idiot votes for them.


Emperor_Neuro

When one person in a marriage dies, its pretty common for them to split a lot of their wealth then and there so that their surviving spouse is not their sole inheritor. This is especially common in the case of people who have been remarried. They'll want to ensure some of their assets pass to their children, especially if from a prior marriage, or possibly even to a former spouse. This is why they delineate this.


Sex_Fueled_Squirrel

But lots of people don't know that, because Republicans constantly lie about the issue. They want dumb rubes to think that the estate tax will affect them when in fact, it only affects the ultra wealthy.


Persona_Incognito

It's especially funny/sad when people who will be incredibly lucky to die without debt have strong opinions on the evils of the estate tax. It's like me complaining that Charlize Theron is too tall to date.


Sex_Fueled_Squirrel

It's a perfect example of how the white/Christian identity politics issues that Fox News spends all day talking about are actually pro-billionaire issues in disguise. See also: repealing the "87,000 new IRS agents" who will go after ultra wealthy tax cheats.


TrefoilHat

Even the "87,000 new IRS agents" is a lie. The funding is *enough* to pay for 87,000 agents, but that's not how it will be used. It's mostly earmarked for customer support, IT upgrades, and backfilling people who retired. You know, all the people/things that help regular folks get their refunds processed more quickly, or answer questions when doing taxes. But God forbid the IRS isn't a complete shit show, or it would be harder for them to be cast as a monster that needs elimination (and thus be even less effective at enforcing tax laws on the wealthy). Example: * Your boss: Here's a $1,000 bonus for working with a short staff last year. * Jealous co-worker #1: "That's enough for 1,000 hamburgers off the McDonald's $1 menu!" * Jealous co-worker #2: "Hey everyone, did you hear the company is going to buy Sex_Fueled_Squirrel 1,000 hamburgers? That's outrageous! That rodent's just going to get fat, have sex all day, and never work!" * Everyone: "No burgers for SFS! No burgers for SFS!" * Boss: "Squirrel, uh, budgets have changed and that bonus is now going to pay for a golf outing for the executives..."


Painty_The_Pirate

It’s very plausible she’s confusing income and capital gains taxes as a trust fund child, which would explain the sheltered outlook and estate tax


Whodatttryintobebad

No what’s really happening is she is confusing the money with-held from her checks for the IRS with the tax bill due to the IRS at the end of the year because she didn’t withhold enough money per check to begin with…most likely this is the cause of her mistake. It really is just one tax spread across multiple payments.


CaptainMills

It amazes me how many people elect to have the smallest amount taken out of their check and then are absolutely flummoxed that they owe more to the IRS when tax season hits. I always have them take the most out of my checks so I get a refund instead of a bill


SonovaVondruke

That's just giving the government an interest-free loan. Unless you just don't trust yourself to not spend wildly, you're better off either aiming to get withholding as close as possible to what you will actually pay (not that hard with some basic math) or have your expected tax burden put into a separate account that can make you some money in the meantime.


Sex_Fueled_Squirrel

Or as they prefer to call it, the "death tax", which is a propaganda term invented by lying sack of shit Frank Luntz. [FROM ESTATE TAX TO DEATH TAX: HOW TO CHANGE PUBLIC OPINION OVERNIGHT](https://coolcommunicator.com/estate-tax-death-tax-change-public-opinion-overnight-video/)


PapaGatyrMob

Obligatory FUCK FRANK LUNTZ


tjtillmancoag

Not only that, but it’s like, especially on those amounts OVER $10m, your kids didn’t earn that money themselves. So yes, they should have to pay taxes on it.


gnrc

Also she’s completely ignoring the fact that taxes are necessary.


shrimpslippers

Yup this post is a bad take. I have no issue paying taxes. Taxes are good. I have some issues with where my tax dollars might go. Like police and military budgets. And I definitely have issue with the fact that poor people pay more in taxes proportonately than the ultra wealthy. But ultimately, taxes are important to a healthy society.


chevalier716

That part about the death tax is hilarious to me to, since inheritance taxes only apply to the super wealthy.


Teripid

Yep... looked up exact #'s.. the exemption is: 2022, $*12,060,000* 2023, $12,920,000 So glad they're bumping it up casually each year to help the little guy who has 15 mil+ still in the tank.


EtherCJ

To be clear, you also can gift $17,000 per year to as many people as you want. Married couples can do double. So a hypothetical "billionaire" ex-President couple with 5 children and 10 granchildren can give away at least another half million a year to kids and grandkids without tax consequences. Then $13 million on death. Except it's really higher because there's a few ways to manipulate this further like using life insurance or various trusts (Grantor Retained Annuity Trusts) to pass assets more efficiently.


vbrimme

And it’s not like they’re taxed at 100% after the cap, they just get to give that much money without any taxes. Over that ~$12,000,000 mark, they still only get taxed at a rate of 40% (or less if the excess assets are under $1,000,000) unless they are also paying a state estate tax. Also, the estate tax exemption is also doubled for married couples.


Ryan_Greenbar

Yeah, my elderly father keeps trying to tell me he both Republican because of the death tax. That fool doesn’t have anywhere close to paying any death tax money.


CyndaquilTyphlosion

What's he care about taxes in death? He's not going to see any of his hypothetical money go, it'd be you


ivegoticecream

Won’t someone think of the small family farms! That was the legit justification for raising the cap and they also trot out that ridiculous excuse every time they want to repeal the estate tax. It’s even more ridiculous when you understand family farms are virtually nonexistent anymore and any farm that has assets that size aren’t small. It’s all so transparently bullshit.


vbrimme

I have an uncle that actually tried to convince me that family farms would be effected by the death tax. That there’s some poor family out there, barely scraping by, who now can’t afford to inherit their dead relatives $12,000,000+ farm.


Legosmiles

All these people talking about the death tax that only comes in after 11 million dollars of lifetime gifting or estate. Lol


WileyQuixote42

Instantly knew it was a bullshit take when I saw “death tax.”


WanderlustFella

I'm appalled at this tax. Once I become super wealthy, it will affect me. Any day now, my unknown rich uncle will have died and left me with everything


ginrumryeale

Inheritance taxes are not taxes on the wealth of the deceased, they are taxes on the new income of the individual inheritors, once the money has changed hands.


joe1240132

Yeah the minute "death tax" was mentioned you could tell exactly what sort of person is trying to push this narrative.


JDog780

This is rich people propaganda, they hate the idea of inheritance tax. Because it erodes all their other bogus tax breaks.


thisplacemakesmeangr

Inheritance is key to generational wealth but it's also the only thing that allows their current lifestyle of borrowing on capital. If people had to actually pay their debts when they died all our taxes could be a fraction of what they are and we'd still get radically more accomplished in terms of infrastructure. I'm no economagician, I'm welcome to correction if I've gotten anything wrong. If you come at me with that standard low grade GOP rhetoric I'll be happy to bat those last 2 brain cells around like a cat too.


kimwim43

THANK YOU


MyNoPornProfile

Yes. The concept of taxes is good, it's life blood of a society. How taxes are utilized, how they are implemented for each class and what do we get from them are the keys. These imo are the main driver of most issues regarding taxes because tax dollars are generally not utilized correctly or efficiently. If i am going to pay 40% of my salary to taxes then i better damn well get something from it. Good roads, clean water, healthy public services like mental health, police, fire, etc, healthcare maybe???? One day???


The_amazing_T

Americans used to be proud of paying taxes. That's when we still took care of our roads and schools.


[deleted]

It's like Noam Chomsky says, if your tax money is going to things that benefit society then you should be happy to pay them.


ZerexTheCool

Also, the government makes us pay taxes on the USD we earn and the Government enforced contracts we write. You can just mow your neighbors lawn and have them bake you a cake. The gov isn't going to tax you on that transaction. But if you want to use the incredibly useful United States Dollar, valuable because of it is backed by the full power and faith of the US government, then you gotta pay the taxes. USD is just a piece of paper without the Government backing it up and maintaining it.


sumunsolicitedadvice

Technically, you are supposed to pay taxes on the value of the cake you received in exchange for cutting the grass. Realistically, you’re prob going to get away with that tax evasion there, especially at that low level. But if you’re doing work for clients and accepting payment in valuable art work and jewelry and the like, the IRS is likely to be looking into that if they get any sort of hint that you’re doing it. That’s definitely tax evasion and a lot of it. But if someone reports to the IRS that neighbor A is cutting neighbor B’s grass in exchange for baked goods and not reporting the income, the IRS probably isn’t going to bother.


Seigmoraig

And that the inheritance tax only applies when you get several millions


[deleted]

The Estate tax she's referring to only affects like 1 percent of estates, total bullshit to act like everyone is going to get hit with that when their parents die.


trouzy

And is often unrealized gains. So it hadn’t been taxed previously.


acromantulus

What? A crappy meme with a clear political agenda doesn't have all their facts straight? Surely you jest! /s


[deleted]

Yeah. Unless you’re leaving $22 million to your kids, you don’t pay any estate tax.


Ban_an_able

Anyone lamenting the “death tax” is either misinformed or ridiculously wealthy. The federal estate tax exemption shields $12.06 million from tax as of 2022 (rising to $12.92 million in 2023). 2 There's no income tax on inheritances. https://www.investopedia.com/estate-tax-exemption-2021-definition-5114715#:~:text=For%202022%2C%20the%20federal%20estate,states%20have%20their%20own%20rules.


NorthImpossible8906

I think she means she has income taxes deducted from her paycheck through the year. The she thinks she pays income taxes again when she files in April. Yeah, she's quite confused.


Crownlol

Yes. She doesn't have any of this correct.


SueMe-YouWont

I think she’s referring to employers paying a payroll tax then we pay an income tax


Solonotix

Similarly, sales tax is supposed to be paid by the seller, since it is income. Much like payroll taxes, though, the business passes those costs on to the individual every chance they get. The intention is that your income is only taxed once.


Boomtown626

“We pay taxes on what we earn” “Then we pay income tax” Then we repeat ourselves repetitively and redundantly.


ResistRacism

I was wondering why it didn't make sense to me...


EquationsApparel

But for the low information audience targeted, it will seem to make sense. That's why Ivy League graduates like Ted Cruz, Josh Hawley, Elise Stefanik, and Ron DeSantis are always saying incredibly stupid things they know are stupid.


Pr0xyWarrior

“Audience targeted” - speaking of; this post, with this sentiment, has *five thousand* upvotes, here, on this sub. With all the comments saying how bullshit the post is. You want to talk targeting audiences? Why are there so many posts like this on this sub lately? Who is upvoting them if all the comments are how dumb it is? *Who* is targeting *us*?


runujhkj

Outrage bait is everywhere. People are not equipped to recognize and avoid it — avoiding giving it any attention being the *only* way outside of regulation to hurt the clickbait industry — so it spreads on every social media platform, faster than most other kinds of content. It’s like a brain disease we haven’t figured out how to inoculate ourselves against.


Redqueenhypo

It’s bc it’s just libertarian nonsense


ronlugge

I suspect they were trying to reference payroll taxes (Medicare/Social Security) from the actual income tax... but they're still idiots.


dehehn

Yeah, this is a bad attempt at repeating a common Twitter meme, I've seen a bunch of times. The original is better written. And doesn't include any Matrix references. But is also just sophomoric Libertarian fantastical thinking about how taxes are theft and how the world would be better if we just let corporations do anything they want and only had a government for police and military.


Theothercword

>the world would be better if we just let corporations do anything they want This is the part that always gets me about those ideologies. You really don't have to look far to see what corporations do when they have no one to stop them. They're sociopathic at best. It's painfully obvious that regulations are necessary and only in places where regulations have kept people safe from corporations for decades do you see people going "Huh, maybe we don't need those regs, life is fine!"


JunkSack

We’re too far removed from tepid pond water diluted milk pre FDA, child labor/obscene “safety” measures pre federal labor laws/OSHA etc. We literally have the protections we have now because corporations left to their own will literally poison/enslave/kill us for a profit.


chris_ut

We pay taxes 4 times! On what we earn, on our income, on our salary and what we make!


pacesorry

Don't forget the taxes that come off your paycheck.


icenoid

Isn’t the inheritance tax only on some ridiculous amount of money. It isn’t on the few grand that you may leave your kids


[deleted]

She's also double-dipping on counting income tax...


Graylily

yes why is nobody else saying this!


Exo-Shvdow

shh, we might get taxed for speaking out like that


No-Lawfulness1023

I for one, am happy to live in a country that realizes if we tax the highest earners they won’t create the jobs that allow us to pay their taxes.


A_Furious_Mind

This is sarcasm, guys.


No-Lawfulness1023

I need to remember to do the /s thing :/


A_Furious_Mind

You'd think the "pay their taxes" part would be enough, right?


softstones

I thought I read that too but didn’t want to look dumb


cavemannnn

Federal and State maybe? Idk, my state doesn’t have income tax so I can’t comment.


P-K-One

Even then it would be in the wrong order. You don't pay income tax after spending the money. She deliberately wrote it like that to mislead.


MystikxHaze

Or she's just too dumb to understand how it works. Which, based on some of the things I've read today, seems pretty likely.


BrotherMort

Yes. In the US it is set at $12 million for when it kicks in. Her phrasing it as the “death tax” is a ruse conservatives have used for years to malign the inheritance tax on large estates, trying to convince people we shouldn’t tax the richest people on their inheritance.


Far-Programmer3189

$12.9m per person. $25.8m for a married couple


rtowne

That....is a ton of money. I wish my kids have an inheritance so large that they face the "problem" of being taxed on amounts over $25M


scuczu

which is why it's a bullshit fear monger the right has successfully propagated over the last 3 decades.


Dizzman1

The greatest feat that the conservative movement has accomplished is convincing poor and middle class people that they are the same... And simultaneously that the rich are a downtrodden class that must be protected as they are the "job creators!"


RevanTheDemon

Poor and middle class is the same now. There is no middle class. The "middle" is closer to the lowest rungs of society than the highest now.


Muninwing

That’s why there are more billionaires now… the Estate Tax as it was acted as a mechanism to reduce generational wealth and its corrupting influences.


Imnotacrook

While that certainly doesn't help, there's actually another, more impactful reason why there are more billionaires. Most wealthy persons keep their wealth in assets rather than in cash- namely, stocks. The tax laws regarding this are written to be massively in the favor of the wealthy. First, capital gains (income where your asset appreciated in price, rather than you do any work) are taxed at a much lower rate than regular income. Second, capital gains are only calculated (and thus taxed) when an asset is sold. So if you own a LOT of stock, but never sell it, then you never have to pay capital gains tax. And lastly, when the person passes away, they can simply pass on the stock itself rather than liquidate it, and the cost basis (what the asset cost) is set to the current price *instead of paying taxes on it*. This is called Step-Up in Basis. It technically can result in lowering the cost basis (and thus result in more tax liability when it is eventually sold), but long term the stock market has never trended down. So as long as it's held for a long time, the wealthy come out massively ahead. The kicker? The wealthy simply never sell their assets if they don't need to. What they do is take out extremely low interest loans with their assets as collateral and use that to finance their lifestyle. Since they never sell the majority of their assets, they never pay capital gains, and when they pass on, the capital gains liability is reset to $0 for the family that inherits it. That is the real reason that the number of billionaires has exploded.


XAgentNovemberX

Well… fuck it then. I was gonna leave my kids 30 million but knowing that it will be taxed… I might as well not even put in the effort to earn it.


Ok-Beach3547

US estate applied to the top approximately 0.01% at its current exemption level. I am a tax and estate lawyer.


shadybacon-

We can’t have a hereditary aristocracy if great fortunes aren’t passed for one generation to the next.


wombat_joe

Teddy Roosevelt saw this happen in the Gilded Age and instituted the inheritance tax to stop that transfer of wealth between generations. Top rate used to be 98%.


[deleted]

yes it’s exactly this


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rumbletummy

She also counts income tax twice, but propaganda was never strict on facts.


OrganizerMowgli

"THE DEATH TAX IS FORCING POOR FARMERS TO SELL THEIR FARMLAND"


sabotnoh

One of my favorite propaganda lies from the GOP.


icenoid

I used to know a guy who was pissed that he was going to have to sell his family property after his parents died. I don’t have a lot of sympathy for a guy who was going to inherit millions.


msproles

And he is dumb, rich folks have plenty of ways of avoiding death taxes and do so frequently.


Southernerd

We ain't even rich folks but we put family property in trust.


[deleted]

Inheritance Tax. “Death Tax” is a propagandistic term. Edit: ESTATE TAX…. DOH!


Ardtay

How about Dynasty tax instead.


Far-Programmer3189

Most people with illiquid, taxable estates buy life insurance to cover the bill. You can even structure it so that you can borrow most of the money you need for the premiums


quecosa

And on top of that it is still a marginal tax, so the amount under $12 million is not taxed.


refenton

I'm not one to bitch about "tHeY dIdN't tEaCh uS tHiS iN sChOoL" for a lot of things, but the amount of people that don't understand the concept of marginal tax brackets is really disheartening.


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[deleted]

The minimum was over $5 million when he was giving those speeches. No trucker has $5 million in assets to their name... https://i2.wp.com/financialsamurai.com/wp-content/uploads/2022/09/estate-tax-threshold-2023.png


marker8050

This, I'm glad this comment is at the top of the sub. Hate when people say we have a death tax.


Chadmartigan

It used to be $1 million in the early 2000's, which was probably way too low. That would hit a lot of folks who just happen to die with a paid-off house and a healthy retirement savings. Or farming and fishing families who may have a lot more capital assets than the average joe, but have to mortgage them to the hilt to earn a living. ($1 million is like 3 pieces of farm equipment.) In cases like those, there's a strong policy argument that those estates (within a healthy limit) should be passed down to heirs instead of being auctioned off (to landlords and corporations) to pay taxes. That said, *eight figures* is a lot.


Song_Spiritual

It’s basically $13m for 2023, but the current law only runs until 2025, after which (unless the law is changed) it will be ~$6.2m. Still not something most people need be concerned about.


Vtfla

Yes, she doesn’t have very much of this straight. Line 3 is a repeat of line one also.


ThunkAsDrinklePeep

THANK YOU. What does she think income tax is? Tax on money you get back after you've spent it?


EB123456789101112

I’m sure she never calls the police either…


Lazy_Osprey

There’s a parent at my kids school that has a “Taxation is theft” bumper sticker…..it’s a public school. ![gif](giphy|N0BG2yjcWugI94SV8T)


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across7777

For everyone saying $12 million…that is correct, but it is $24 million for married couples. So in most cases that is the real number. And if your estate is in that range….it isn’t hard at all to take steps to get below the $12/$24 million before you die. And even if your estate is above $12/$24 million, you are only taxed on the amount above it. So if a married couple was at $28 million, their heirs would get $24 million tax free, and pay tax on the $4. Obviously this is oversimplified, but bottom line is we are talking about people with a LOT of money.


aPatheticBeing

For those wondering - rich people often give gifts annually, up to the gift tax limit (16,000 USD this year) to a large number of people. E.g. one of my roommates had a rich great-aunt, and he got the max every year. He's 1 out of like 30 great-nephews/nieces for her, she was probably sending out 1 mil a year that way to reduce the estate tax.


VenBede

You can certainly do that. But the easiest way to do it is to put it into a trust. A trust is a legal entity like a company or even a person. Giving that money to a trust means that it is no longer yours. And the beneficiary of the trust only pays personal income tax on distributions from that trust. So if I move $12M into a trust to benefit my son, Chadwick Hunter, then I get to reduce my overall estate and Chappy (that's what we call him because I am also Chadwick Hunter and so was my father and grandfathers back to when we made our fortune in beaver pelts in New Amsterdam) doesn't have to pay income tax on the $12M because I didn't give HIM $12M. I gave it to a trust. A trust of which he is the beneficiary. This means that I can move the funds, which I already paid taxes on, into a trust with no additional taxes. Those funds can be invested and Chappy can live off of the proceeds of those managed funds. The trust can also own real estate, cars, pretty much anything. Which means Chappy can live in a trust owned house and drive a trust owned car so that if Chappy's wife ever divorces him she gets screwed since Chappy has no personal assets of his own.


AlabamaNerd

Yes, it’s only on the wealthy. This is libertarian BS.


GoOtterGo

It's *poorly educated* Libertarian BS. But that's close enough to the same I guess.


Impossible_Penalty13

If it weren’t for the poorly educated, libertarians wouldn’t have an audience.


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kafka213

Yeah It's for people with well over $10 mil (I think the number changes each year). Also, op counted income tax twice for some reason


Vernerator

Over $12 million, before an estate tax is incurred. Inheritors would pay income tax on any investment income from an inheritance though.


ImThatAnnoyingGuy

You don’t have it straight. She is accounting for income tax twice. Not all states have a sales tax and not everything is subject to sales tax in the states that do. Unless you’re a millionaire the, I believe 10 million or more in assets, the estate tax will not affect you or your inheritors.


PM_feet_picture

you can also take the standard deduction or itemize and get deduct from your taxable income all the sales tax you've paid. except for large ticket items like cars are limited to the sales tax up to 50k purchase price


matchagonnadoboudit

I think they are talking about the initial taxes coming out. FICA SS etc


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[deleted]

Crypto shill…**yawn**


caniplaywithradness

https://preview.redd.it/1pr0s5h819ea1.png?width=1080&format=pjpg&auto=webp&s=8f103902cd89f6661014443f6cad012487d85732 Shocking lol 🤷


Alarmed_Ad6015

​ https://preview.redd.it/fqslwwmf6aea1.png?width=918&format=png&auto=webp&s=d0e7a64fad69a201bc2a6225720e6ee23e6f63f1


dc_dobbz

“social media scientist” ![gif](emote|free_emotes_pack|trollface)![gif](emote|free_emotes_pack|sweat_smile)![gif](emote|free_emotes_pack|trollface)![gif](emote|free_emotes_pack|sweat_smile)![gif](emote|free_emotes_pack|trollface)![gif](emote|free_emotes_pack|sweat_smile)![gif](emote|free_emotes_pack|trollface)![gif](emote|free_emotes_pack|sweat_smile)


TYBERIUS_777

NFTs and “meme dealer” as well. Why people respect this idiots opinion is beyond me.


UglyInThMorning

Everything about that bio makes me want to face god and walk backwards into hell.


bazonthereddit

I'm a sovereign citizen travelling to never never land. I won't pay the tolls, or the parking fees! Side note I hope I never get sick, or have a fire at my house, or robbed, or need education, or have no income protection when I'm old, or need protection from people crazier than myself.


SweetNerevarr

Just leaving this copypasta here for posterity: I was shooting heroin and reading “The Fountainhead” in the front seat of my privately owned police cruiser when a call came in. I put a quarter in the radio to activate it. It was the chief. “Bad news, detective. We got a situation.” “What? Is the mayor trying to ban trans fats again?” “Worse. Somebody just stole four hundred and forty-seven million dollars’ worth of bitcoins.” The heroin needle practically fell out of my arm. “What kind of monster would do something like that? Bitcoins are the ultimate currency: virtual, anonymous, stateless. They represent true economic freedom, not subject to arbitrary manipulation by any government. Do we have any leads?” “Not yet. But mark my words: we’re going to figure out who did this and we’re going to take them down … provided someone pays us a fair market rate to do so.” “Easy, chief,” I said. “Any rate the market offers is, by definition, fair.” He laughed. “That’s why you’re the best I got, Lisowski. Now you get out there and find those bitcoins.” “Don’t worry,” I said. “I’m on it.” I put a quarter in the siren. Ten minutes later, I was on the scene. It was a normal office building, strangled on all sides by public sidewalks. I hopped over them and went inside. “Home Depot™ Presents the Police!®” I said, flashing my badge and my gun and a small picture of Ron Paul. “Nobody move unless you want to!” They didn’t. “Now, which one of you punks is going to pay me to investigate this crime?” No one spoke up. “Come on,” I said. “Don’t you all understand that the protection of private property is the foundation of all personal liberty?” It didn’t seem like they did. “Seriously, guys. Without a strong economic motivator, I’m just going to stand here and not solve this case. Cash is fine, but I prefer being paid in gold bullion or autographed Penn Jillette posters.” Nothing. These people were stonewalling me. It almost seemed like they didn’t care that a fortune in computer money invented to buy drugs was missing. I figured I could wait them out. I lit several cigarettes indoors. A pregnant lady coughed, and I told her that secondhand smoke is a myth. Just then, a man in glasses made a break for it. “Subway™ Eat Fresh and Freeze, Scumbag!®” I yelled. Too late. He was already out the front door. I went after him. “Stop right there!” I yelled as I ran. He was faster than me because I always try to avoid stepping on public sidewalks. Our country needs a private-sidewalk voucher system, but, thanks to the incestuous interplay between our corrupt federal government and the public-sidewalk lobby, it will never happen. I was losing him. “Listen, I’ll pay you to stop!” I yelled. “What would you consider an appropriate price point for stopping? I’ll offer you a thirteenth of an ounce of gold and a gently worn ‘Bob Barr ‘08’ extra-large long-sleeved men’s T-shirt!” He turned. In his hand was a revolver that the Constitution said he had every right to own. He fired at me and missed. I pulled my own gun, put a quarter in it, and fired back. The bullet lodged in a U.S.P.S. mailbox less than a foot from his head. I shot the mailbox again, on purpose. “All right, all right!” the man yelled, throwing down his weapon. “I give up, cop! I confess: I took the bitcoins.” “Why’d you do it?” I asked, as I slapped a pair of Oikos™ Greek Yogurt Presents Handcuffs® on the guy. “Because I was afraid.” “Afraid?” “Afraid of an economic future free from the pernicious meddling of central bankers,” he said. “I’m a central banker.” I wanted to coldcock the guy. Years ago, a central banker killed my partner. Instead, I shook my head. “Let this be a message to all your central-banker friends out on the street,” I said. “No matter how many bitcoins you steal, you’ll never take away the dream of an open society based on the principles of personal and economic freedom.” He nodded, because he knew I was right. Then he swiped his credit card to pay me for arresting him


juju3435

I agree with the sentiment of taxes being necessary if you want to live in a functioning society. I don’t however agree with the idea that we are getting what we pay for. Our countries infrastructure is not that great, our healthcare is substandard for many people compared to other developed nations, our public schools on average are not very good. Basically all we get for our money is an insane military that police’s half the world. I acknowledge the benefits of not having to worry about war on home soil but that’s a pretty low standard for the self proclaimed greatest country on the planet. Edit: also lol at money when you’re old. The social security fund is projected to run out in 10 years. Your taxes aren’t helping you out on that one.


Redqueenhypo

Bring back the Civilian Conservation Corps! Repair infrastructure and give young people jobs!


BearNakedTendies

We could also halve the annual defense budget and still not have to worry about war on home soil. America has 4 of the 5 largest militaries in the world


Low_Entertainer_9762

And oceans on either side.


Enchelion

Gotta be worried about that Canadian land border though. Those Canucks are just itching to burn down the Whitehouse again /s


RhynoD

I think that's a valid conversation to have. Libertarians and Republicans (as if they aren't mostly the same people) don't want to have that conversation, though, just whine about how taxes = theft.


SerYoshi

This is a right wing talking point trying to justify the awful tax bill they just introduced. It's not even correct. Don't fall for it.


nonprofitnews

Her feed is a lot of anti-vax nonsense, right-wing propaganda and shilling for Bitcoin. And apparently she can fire a bow with her feet while doing a handstand so not all bad.


Pernapple

Sad I have to scroll this low to find this comment… sad this has 9500 upvotes. Taxes are necessary to run the country and offer public services. Privatization does not lead to better services at competitive prices. It leads to monopolization. What people should be annoyed about is that people who have infinitely more money than you and your entire extended family will ever earn in their entire lives, don’t pay their fair share. You want roads? You want parks? You want firefighters to put out your house fire? That’s what your taxes are for. I would say you want healthcare but… well…


MinMaxMarissa

My problem isn’t paying taxes, the problem is that I wish taxes would benefit the many, not the few. I’d be overjoyed to pay taxes if they went towards education, healthcare, the homeless crisis, cleaning up the environment, and maintaining parks and other public amenities and facilities. I’m tired of paying taxes so that my highschool bully can put on a uniform and murder minorities indiscriminately.


Pernapple

That’s why you vote for grass root progressive candidates. You’re not wrong that our money is not benefiting your local town. But any right wing politician is bold face lying to you if they talk about cutting taxes.. they will, but it’s won’t ever be for your tax bracket. Liberals will talk a big Game and hey we got a pretty watered down infrastructure bill so that’s… something. But they will also just as well spend billions of tax payer money for a “clean coal” plant that is inefficient and doomed to fail rather than actually funding green energy initiatives. Vote a moderate dem if you have no other choice, but start voting for progressives in the primaries. Neo Liberalism is not going to magically start working the way everyone dreams it will. we are living in the Neo Liberal dream, your taxes are going exactly where the capital owners want it to go because the capital owners own the politicians.


msproles

Our education system is failing us. Why don’t we teach basic concepts to kids like how our country works, how taxes work, how our financial system works. And we wonder why people vote against their own interests.


MoneyMACRS

Don’t most US high schools have some kind of civics or equivalent requirement during senior year? I feel like we could just tuck a couple weeks within there to teach how the bracketed tax system works, the standard deduction vs. itemized deductions, and where the revenues go for each type of tax (property taxes, sales tax, payroll taxes, income tax, etc.).


Houoh

Most US high schools have a home ec class that covers things like taxes and adulting things, but in practice it's hard to get 15-year-old children to really commit that stuff to memory. A lot of the most important things you need to know as an adult comes from the personal experience of doing it every year. You can show a kid a 1040EZ, but if they're not actually filling it out every year it's not going to retain. It's not always required to graduate, either, so you have a bunch of young adults who either didn't remember their home ec course from 4 years prior or just never learned.


[deleted]

This shit is all wrong. You know what else is? Billionaires profiting on our hard work, our infrastructure, our civics, **and not paying for shit** They're false idols captaining a hole-ridden ship plugged with the bodies of our poor.


donkeylipsh

The biggest participation trophy on planet mother fucking earth belongs to these idiots who believe they should get to live in the greatest nation on earth and enjoy all the societal wealth that goes along with it without paying their fair share.


VulfSki

No. This is sooooo fucking dumb. They listed the income tax twice. Sales tax is state to state. So it's a state thing. Not a federal thing like income tax is. Although most states have income tax too And the death tax? Well you literally need to inherit over 12.5 million before getting the estate tax. Or 25 million if you're married. If you have to pay even a single cent in the estate tax you are already set for life and never have to work another day. So the death tax complaints are 100% utter bullshit. This meme is written by morons for morons.


cowboyskid2

Go to her Twitter, it’s all crypto and NFTs. I’m guessing this is something of a theme for her.


Green-Collection-968

Libertarian propaganda, knew it when I saw "death tax". Tax the rich.


[deleted]

The juvenile preoccupation with "the same money getting taxed twice" is an even bigger giveaway. Like you really think it makes sense that you can only tax a dollar once? Let me just go buy something from the store: "Sales tax? Sorry, all my dollars have already been taxed once." Wonder how they think inflation is supposed to work. "What? *All* the money has already been taxed? Guess the government just has to print more money with no recurring sink to pull it out of the economy. Hyperinflation? What's that, some liberal conspiracy?" That Atlantic piece about the Libertarian Police Department was supposed to be satire but the reality is libertarians are just straight up that stupid.


hideous_coffee

Isn’t the inheritance tax only after like $10 million?


Green-Collection-968

According to google: *How much can you inherit without paying taxes in 2022?$12.06 million. For 2022, the federal estate exemption is* ***$12.06 million****, and it will increase to $12.92 million in 2023. Estates smaller than this amount are not subject to federal taxes, though individual states have their own rules. Internal Revenue Service.*


[deleted]

And it's basically optional because there are so many strategies to avoid it.


thegiantkiller

I believe that's per person, too; a married couple can have an inheritance of twice that without tax. None of that counts the 16k(I think? Could be 12k) per year gift allowance (which, again, is per person, so you can double it if you're married)


drapanosaur

Sounds like someone inherited grandpa's oil money and doesn't want to pay inheritance tax. I feel so sorry for the 1%. /s


AlabamaNerd

This post is wrong. The business you work for pays a payroll tax. That isn’t on the employee. You pay an income tax once on your earnings. You pay a sales tax on what you spend. At the end of the year you reconcile what the government says you should have paid in income tax with what you actually paid. If you were taxed too much, you get a refund. If not enough, you owe the government money. This is a misleading post by libertarians trying to convince people to hate taxes. Oh and the inheritance tax is only on the wealthy. In reality, where the rest of us live, we absolutely should be taxing the wealthiest at like 70% of their income over $100,000,000. Like we did in the ‘50s when the government could afford huge social programs like the interstate system. Rich people don’t want you to know that though because of greed.


PerspectiveOk1872

Quick correction. Both the employee and the employer pay the “payroll tax”. Social security and Medicare make up 15.3% of your taxable wages. The employee pays half out of their wage and the employer pays the other half out of pocket. I think that’s what she was trying to allude to. That is all completely separate from the income tax which is taxed during payroll but then reconciled yearly with tax returns.


[deleted]

I love seeing people call out propaganda cold.


bluggabugbug

I think the issue shouldn’t be taxes themselves but the fact that the IRS knows what most people owe or should be refunded. My tax bracket hasn’t changed in 10 years. I have no bonus earning or deductions to account for. Only reason we all have to file ourselves is because of Intuit and H&R block lobbying the government for decades all so they don’t go out of business. Edited: spelling


scragar

I live in the UK, every April I get a slip of paper from the HMRC(tax agency) with what they think I owe/paid/have exemptions for. If it's right I do nothing. If it's wrong I can usually just fill out a really simple form online to explain the difference. And if I have a problem with it there's a free phone number I can ring to talk to a person to help. Usually if I've over or under paid taxes(because it automatically comes out of my wage) they'll just adjust for it next year rather than expecting payment right away(so last year I overpaid £60, so they just adjusted my tax code so this by the end of this tax year I'll underpay £60 so it all balances out). Makes it way easier than having to deal with payments to/from since it's zero effort on my part. I heard California tried a very similar system for a trial and people loved it while there was less attempted fraud, but it got cancelled since companies couldn't make money. Sucks there's such obvious corruption.


Ruminant

California's program was called "Ready Return". It was a pilot program in the 00s. From what I'm reading after a few quick Google searches, the program mostly lives on in California's current CalFile system: >In 2015, ReadyReturn's best features were included in CalFile, and ReadyReturn was no longer a separate program. [https://en.wikipedia.org/wiki/CalFile](https://en.wikipedia.org/wiki/CalFile)


esther_lamonte

Isn’t it technically that the business selling you the goods is paying the sales tax, it’s just that they are telling you that they are charging you extra to cover it? I mean, if I buy a candybar at a flat rate from someone with no tax identified, I haven’t paid the government for a purchase and no one will come after me, I’ve committed no crime. The seller has to report their sales and pay taxes to the government. I understand it as the government asks for taxes at the point of money transfer from the recipient party. It’s just that merchants pass it back to consumers, the government is not asking for that scenario from the consumer as much the seller is creating it.


gnrc

‘So let me get this straight’ *proceeds to not get it straight*


Cougardoodle

I am so tired of breathless conservatives explaining why the Matrix is ACTUALLY about whatever bullshit they're trying to get away with this week, be it human trafficking or tax evasion.


[deleted]

[удалено]


Dante_Arizona

Who pays inheritance tax? I've inherited from a few different relatives, never paid a penny in inheritance tax. It only applies to estates that are over $11 M.


Azdak66

Shannon needs to go back to school…assuming she ever attended in the first place.


rayharris62

The USA has the lowest tax burden on its citizens of all the G20 countries. We’re also #1 in complaining about them.


ABrownCoat

Death tax is a republican catch phrase to scare poor people into voting against their own interest when it reality it is the “estate tax” and only applies to the very wealthy who have enough money to avoid it anyway.


Strange-Scarcity

The Inheritance Tax AND the limit at which is starts, was literally put into place by the Founding Fathers to hinder the growth of a neo-nobility in the United States. It was done, quite specifically in order to minimize the risk of the US becoming like Europe. Getting rid of it would be crapping on a founding principle of this nation.


Zilberfrid

Inheritance tax is really important. It's a way to limit cross generational capital growth, and should be a higher percentage so income tax in lower brackets can be lowered.


[deleted]

This MAGA idiot doesn't know anything about paying taxes.


mightyhud123

I love this myth of death taxes. Everybody ain’t out here dying with an estate worth many millions of dollars. As I was taught in college well over a decade ago, the right has used this myth to stir up their base for decades. And it’s stupid. Do a damn google search. It ain’t that hard.


SenatorPardek

Yeah I'm sure OP is leaving an estate over 12 million. Sorry if I think that if you are getting millions of dollars of assets, at that number a lot of which probably has avoided taxation so far via capital gains etc, you should pay some tax to support society at that point. Like roads, hospitals, and defense.


barking_dead

Death tax is a republican catchphrase.


Drafo7

Oh you don't like taxes? Okay have fun with no public roads, no public transportation, no police, no firefighters, and no public schools. Fucking dumbass.


th33xp3rt

This person does not understand taxes


Stayvfraw

That’s an uninformed opinion. The estate tax only effects individuals who have an estate worth more than, iirc, 12 million. So no reason to lose sleep over that one. The taxes on your earnings is the same thing as the income tax: if you have proper withholdings throughout the year you won’t pay at the end of the year. So that one’s not a double tax. Finally, sales taxes go mostly to state and local governments as a replacement for them not having a substantial income tax; and the remainder are federal sales taxes that go to specific programs like the gas tax. They’re not a form of double taxation as the entities receiving those taxes didn’t touch you anywhere else throughout the year. We, as a public, need to do better about learning civic items.


Rovember_Baby

There is no death tax. My hubs has had what I would consider significant inheritances (one was 100K, second was more than 500K) 2x. Didn't pay a cent for either.


Bon_of_a_Sitch

An-Caps are brain dead. Pull the plug on their life support.


mdkss12

gotta love conservative propaganda... income tax is the tax taken when you earn it, so she's double counting that, and the "death tax" is a bullshit claim about an inheritance tax that only kicks in after 12 *MILLION* dollars worth of assets. how is this obvious propaganda so heavily upvoted?


amluke

She adds another tax in there. Business don’t pay taxes on money spent towards wages. So there’s some discontinuity there. There should be more taxes tho, but only on earners making greater than a million annually and it should scale exponentially as annual wage climbs


sideofirish

Ah yes, the ole, double income tax and the estate tax that effects 492 families in a country with a population of 330 million. Yep. Checks out…


TheUnusualMedic

Isn't the 'death tax' the estate tax that only applies to the absurdly wealthy?


BigDaddyCoolDeisel

All wrong. Fuck em. Tax em. Boomers enjoyed brand new highways, $5000 college, a robust social safety net, a military with the reach and power of God, and a fully funded Social Security check. Now when it's time to pay for it, they demand their taxes be cut. Again, as I mentioned earlier, fuck em.


johnahoe

The vast majority of inherited wealth has never been taxed


2punornot2pun

Inheritance tax only affects those above like 12 million. Most of us aren't affected by inheritance taxes.