new.morning wrote: >--- In FairfieldLife@yahoogroups.com, Bhairitu <[EMAIL PROTECTED]> wrote: > > >>And I *do* want to make it clear the progressive tax would work this >>way: once you had an estate valued at 12 million the progressive tax >>would kick in. >> >> > >At what rate(s)? At the current 35-60% (aproximate numbers) >progressively? Or are you actually suggesting a a 100% tax after 12 >million? If so ---- Wow! O to 100% taxataion at 12 million!!! Wow!! >Nothing AT ALL progressive about that. Progresive taxes have a long >hist ory, NO ONE that I can recall has ever suggesting anthing so >draconian. > > Yes, I am suggesting a 100% tax or 12 million or maybe 95%.
>Still, your proposal is far more liberal than current laws that start >taxation at just over a million and then tax at 35 to 60 % >progressively. So its interesting that you want to abolish the current >60% tax on estates over 3-4 million up to 12 million? (I forget what >bracket the final highest rate kicks in) I never took you to be such a >strong advocate for abolishing the current tax on estates 1-12 mil, >and the 60%+ tax on estates ~4-12 million. Ultra liberals never cease >to amaze me. > > I never said that. You are jumping to conclusions. >Or are you under the delusion that there currently is no estate tax? >And ranting about nothing? > > I am well aware of the current estate tax. And that they've been kicking around a change lately. > > > >>Smart people would retire probably spend more time one >>their favorite charities, travel the world etc. I would probably do >>that at even 4 million. >> >> > >I imagine those that accumulated 12 million are generally smarter than >you and will make thier own decisions without the need t o be informed >about your personal preferences. Hard to beleive, sad, but true. > > > Why do you associate wealth with smarts? A Havard study a few years back showed wealth had to do with luck not smarts. I've known a few dumb millionaires too. Around here we don't even call it luck, it's karma. >Or they would continue to work and pump all the post 12 million into >charitable trusts. knowing they could do some good things with the >money and be more effective than gov't programs. > > Probably not that many would. Compare the charitable contributions of the Walton family with Bill Gates for example. They're a pretty sad bunch. >>Right now we have people with too much money >>making bad decisions effecting too many people. >> >> > >Um you sound a bit disgruntled? If the market rules are fair (which >they are currently not perfect) what is gained by capping incomes >other than throwing water in incentives -- the fuel of innovation. > > > This has little to do with me. After all I have made a decent living and some good investments. Innovation doesn't come from the rich sector. It comes more often from small startups with people just squeaking by. Most of these people would be happy just to make a few million. >> They are not gods. >> >> > >Oh you now sound really disgrungled. Bad experience in the elevator >with a snotty exec? > > That's a presumption on your part. I've know many wealthy people. Some who thought their shit didn't stink and others who were very cool. I've know both old money and the nouveau rich. The old money people I knew were very liberal. Their dad even got dragged into the McCarthy hearings. >>Take away their excess wealth and bring them back to reason. >> >> > >Ah, I see. > > > > I have my doubts about that. ------------------------ Yahoo! Groups Sponsor --------------------~--> Check out the new improvements in Yahoo! Groups email. http://us.click.yahoo.com/6pRQfA/fOaOAA/yQLSAA/UlWolB/TM --------------------------------------------------------------------~-> To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
