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  1. Replies
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    But after the store sells the piano, assuming...

    But after the store sells the piano, assuming that they sold it for more than they purchased it for, there's also income tax due on the gain.



    It's not that I think I specifically should be...
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    What if you inherit a piano store and sell 20...

    What if you inherit a piano store and sell 20 pianos for $50,000 apiece? Should you still not have to pay tax? Or are pianos sold in a store different from pianos sold on craigslist or ebay?
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    Then we need to revise the estate tax so that it...

    Then we need to revise the estate tax so that it doesn't have a 0% rate for 699 out of 700 people.
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    I'm suggesting that if I inherit it and sell it...

    I'm suggesting that if I inherit it and sell it for $47,000 more than was paid for it I should pay capital gains tax on it. Just the same as I would if I owned a piano store and was buying and...
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    I agree with you that inflation overvalues the...

    I agree with you that inflation overvalues the capital gains of long held assets, but if we're going to address that we need to address that across the board, not just with estates.

    And I agree...
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    Those are excellent examples. If my dad had...

    Those are excellent examples. If my dad had chosen to buy me a car or pay for my education while he was alive he could have done a couple of things. He could have paid for them with money from his...
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    I suppose I should be going "Yippee! We got one...

    I suppose I should be going "Yippee! We got one over on uncle sam!" Because despite resetting the basis his estate was below the estate taxable rate so we didn't have to pay that either. ...
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    So it's my full due that I should get a tax free...

    So it's my full due that I should get a tax free gift when my father dies? I guess I consider it reasonable for people, including myself, to pay taxes for all of the benefits that we get from living...
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    And I don't understand why my dad was able to...

    And I don't understand why my dad was able to purchase stocks decades ago, hold them until his death and then I could inherit them and reset the cost basis to their value at the day of his death. ...
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    And I think that just has we have a progressive...

    And I think that just has we have a progressive income tax, so too should there be a progressive inheritance tax. Or at an absolute minimum that there shouldn't be a "get out of capital gains tax...
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    Indeed. I suspect the Native Americans would...

    Indeed. I suspect the Native Americans would agree with you there.
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    So, what do you propose that he and his wife...

    So, what do you propose that he and his wife should have done with the money from the house she inherited? Buy some hair shirts or something?
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    So you're saying that no current senator can be a...

    So you're saying that no current senator can be a "of the people" person. After all senators currently get paid $175,000 and a household income of $166,200 puts one in the top 5% of income. I would...
  14. As the therapist from SNL would tell you, "have...

    As the therapist from SNL would tell you, "have you looked at yourself? You need to look at yourself. catherine, take a look at yourself." :~)
  15. Is that one of those risky activities where the...

    Is that one of those risky activities where the guy says "hold my beer. Watch this!"
  16. I agree with you that it's unfair for the family...

    I agree with you that it's unfair for the family to expect the government to intervene to try to get people back if they've gone somewhere like North Korea or Iran. The state department should be...
  17. . I do think our state department should be...

    .

    I do think our state department should be up to date with advisories on where it might not be safe to travel. Beyond that, though, I'm fine with people doing what they want. But I'm also not...
  18. Not quite. New Zealand is to Australia what...

    Not quite. New Zealand is to Australia what Canada is to us.
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    Personally I don't shop to interact with people*....

    Personally I don't shop to interact with people*. I invite a friend out for coffee or lunch if I want interaction. About the only bricks and mortar shopping I do anymore is food. We have safeway,...
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    While I agree with you that the religious right...

    While I agree with you that the religious right has lost the culture war they don't realize it yet. People like me, adults with financial independence, don't suffer their BS much npanymore, but they...
  21. Thread: Ballpark shooting

    by jp1
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    I guess I didn't start a thread on this because...

    I guess I didn't start a thread on this because there's not much unique about this one compared to all the others except that the dude that got shot is a virulently anti-gay racist and the cop that...
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    It's as if he thinks a cabinet meeting is just...

    It's as if he thinks a cabinet meeting is just another segment of a reality tv show. I can't wait for the big dramatic ending. I just hope we don't have a cliff hanger at the end of season one and...
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    Perhaps because I'm specifically a target of the...

    Perhaps because I'm specifically a target of the religious conservative voters of the republican party I'm more sensitive to them, but I disagree with your assessment. There's a sizable portion of...
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    Does it matter that 2/3 of people receiving...

    Does it matter that 2/3 of people receiving government assistance work or live in a household with a working adult, and that in half of those cases it's a fulltime job that pays so little that they...
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    An amusing sidenote to underscore how seriously...

    An amusing sidenote to underscore how seriously mom took her routine and methods for keeping house. A few years after dad retired mom discovered that she had osteoporosis when her ankle broke in...
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