Thread: Rumour of US Reval??!!

Originally Posted by dorrel

Ask not what your country can do for you, but what can you do for your country.

No matter what I pay in taxes, state or fed, I am the winner. I have lived in counteries without all the U.S.A. offers. Our land is as proclaimed by our National Anthum.

At a certain point you start getting less than what you pay for... If you make $300,000 a year and pay 35% in taxes ($91,625) are you getting more or better services from your government than a person making $30,000 a year and paying 15% in taxes($4,123)? Probably not, in fact you're more likely to give back to society and you're are being punished for succeeding. I don't think this is what our founding fathers pictured when they rebelled against the British...

Originally Posted by lndmn_01

At a certain point you start getting less than what you pay for... If you make $300,000 a year and pay 35% in taxes ($91,625) are you getting more or better services from your government then a person making $30,000 a year and paying 15% in taxes($4,123)? Probably not, in fact you're more likely to give back to society and you're are being punished for succeeding. I don't think this is what our founding fathers pictured when they rebelled against the British...

Right on!!

At a certain point you start getting less than what you pay for... If you make $300,000 a year and pay 35% in taxes ($91,625) are you getting more or better services from your government then a person making $30,000 a year and paying 15% in taxes($4,123)? Probably not, in fact you're more likely to give back to society and you're are being punished for succeeding. I don't think this is what our founding fathers pictured when they rebelled against the British...


That is why we need the Fair tax.

I have an off the wall question.
If you were given (not an inheritance)$2,000,000 usd what would you have left after taxes...2 dependents...you already made approximately $50,000 gross a year with health and taxes taken out?

Anyone have an answer? IRS DUDE? Post but also PM me if you do have an accurate answer!
Thanks!

Originally Posted by Dinar Cha Ching

Right on!!

if your paying 35% in taxes then somebody on your financial advising team is not doing their job in hiding your money (legally of course). think like a republican. trusts, ira's, things I can't even imagine yet.

good luck

kerby team

Originally Posted by Court Jester

I have an off the wall question.
If you were given (not an inheritance)$2,000,000 usd what would you have left after taxes...2 dependents...you already made approximately $50,000 gross a year with health and taxes taken out?

Anyone have an answer? IRS DUDE? Post but also PM me if you do have an accurate answer!
Thanks!

What you would have left all depends on whether you received your inheritance before or after the net estate was calculated. As inheritance, the estate taxes would have already been calculated and assessed against the total estate.

Originally Posted by boomcreek

What you would have left all depends on whether you received your inheritance before or after the net estate was calculated. As inheritance, the estate taxes would have already been calculated and assessed against the total estate.

Are you drinking and reading?I am sorry... I must not be making myself clear!
This is not an INHERITANCE...It has nothing to do with an INHERITANCE...it is a GIFT!
Thank you for your response, but unfortunately It's answering the wrong question.
I'll ask my CPA. (If I can get him on the phone)

Originally Posted by Court Jester

I have an off the wall question.
If you were given (not an inheritance)$2,000,000 usd what would you have left after taxes...2 dependents...you already made approximately $50,000 gross a year with health and taxes taken out?

Anyone have an answer? IRS DUDE? Post but also PM me if you do have an accurate answer!
Thanks!

If you were given 2,000,000 as a "gift", the giver of the gift pays a gift tax when the amount is $12,000 or greater. It's my understanding that the recipient of the gift does not pay taxes on the "gift".

Originally Posted by AlwaysDreaming

If you were given 2,000,000 as a "gift", the giver of the gift pays a gift tax when the amount is $12,000 or greater. It's my understanding that the recipient of the gift does not pay taxes on the "gift".

Thank you for your response!
You are helping restore my confidence in this forum!
Later,
The Court Jester

"National Taxpayers Union" <[email protected]>


WHETHER YOU'RE WORKING OR RETIRED, STRUGGLING TO MAKE ENDS MEET OR COMFORTABLE IN THE MIDDLE-CLASS, YOUR BENEFITS WITH THE NEW FAIRTAX ARE TRULY PHENOMENAL!


Dear Dennis,


Imagine a NEW tax system that lets you decide when you pay taxes and how much... saves you thousands in income and payroll taxes every year... and finally unburdens you from the IRS.


Well, that's exactly what the new FairTax does for you!


You see, Dennis, the FairTax repeals all personal income, gift, estate, capital gains, AMT, Social Security, Medicare, self-employment and corporate taxes.


Instead of all these unfair taxes, all we'll have to do is pay a consumption tax at the cash register each time we buy goods and services. But only for new goods because all used goods are tax free.


With the FairTax, the IRS is phased out and no individual or business is required to file an income or payroll tax return again, EVER!


Too, the FairTax fully funds Social Security, Medicare, and all other government services!


And to make sure no family pays any taxes on the necessities of life (food, clothing, shelter, transportation, medical care etc), the FairTax has a generous built-in rebate system so each household in America is mailed a check on the 1st of each and every month for between $188-$767!


Dennis, the truly incredible benefits and advantages of the FairTax don't stop there...


Since capital and labor won't be penalized by taxes, businesses will stampede to locate in the US. We'll become the #1 place in the world for corporations, manufacturing, plants, and service companies. This translates into JOBS AND MORE JOBS while the Gross Domestic Product explodes 9-14%, supercharging our economy!

Continues funding for Social Security and Medicare and provides for all other government services... Right now, only 40% of our people actually pay taxes out of a population of close to 300,000,000. But with the FairTax, everyone pays a small amount -- honest, hardworking Americans, big-spending teens, 50 million or so annual foreign visitors, illegal aliens, and even those who now escape taxes altogether because they are part of a trillion-dollar underground/criminal economy...

Your spendable income increases by thousands because you get to keep 100% of your paycheck, pension and all other income. This in turn pushes your spendable income upwards an incredible 48.05%!

Hidden taxes (estimated by experts to be 20-25% in the price of everything you buy today from a bar of soap to a car or house) disappear!

Interest rates drop 25% or more which helps businesses expand and create even more jobs while saving you thousands more each year on credit card interest, car loans, your mortgage payment, you name it!

Weeds out all the political graft, fraud, shady transactions and awesome piles of campaign cash funneled by lobbyists, the privileged, the wealthy, and the connected to get tax breaks, exemptions, credits, and other loopholes.

You might be thinking the FairTax is, "too good to be true"... NOT SO! The FairTax bill is already in Congress and has over 50 co-sponsors... It's backed by 75 famous economists from such prestigious institutions like Harvard University... the President has said he would be "open" to it, the Speaker of the House of Representatives wants it, and even the venerable Alan Greenspan, retired Chairman of the Federal Reserve says that a consumption tax system "would be best from the perspective of promoting economic growth"...


So, we have traction in Washington!


In fact, the only thing that's missing is your additional support, and that's what I'm asking for today...


Imagine a life where wealth and opportunity are in abundance. A life where you keep 100% of your income... foreign companies flock to America creating jobs, a booming economy and a better standard of living for the poor and every other American.


Imagine NO withholding, NO filing, NO heavy-handed enforcement, NO audits, NO confiscation... Imagine NEVER having to file a personal or business income tax return. Being able to give your assets or income to anyone you wish without paperwork, reporting, taxes, or other complications...


How does that make you feel, Dennis? If you're like most folks you're "relieved", "excited", or even "ecstatic".


But like all truly good things in life the FairTax comes with a price -- your personal support...


NOTHING you can tell yourself, NOTHING you can say to others, NOTHING you can think or feel or imagine is going to get the FairTax enacted. The only thing that'll work is ACTION!


So please, Dennis, ACT today by signing NTU's online petition calling upon both the House of Representatives and the Senate to enact the FairTax and by making a contribution of $25 or $50 or more if you like. Your donation will definitely help NTU expedite passage of the FairTax by convincing Congress to get off their "duffs".


I know, some folks I'm writing to today are programmed to believe our elected officials won't act. Others will say it's a waste of their time even to attempt to fight for a change...


...But getting the FairTax enacted isn't any more impossible than any other grassroots movement that changed the world -- Women's Suffrage, repeal of Prohibition, Civil Rights, the Berlin Wall and even free market economies in Eastern Europe!


So if you want the FairTax, Dennis, it's up to you... Washington cannot and will not ignore the wishes of the voters. So please act today: sign NTU's petition and make your contribution of $25 or $50, to help NTU turn the FairTax into reality!


Sincerely yours,


John Berthoud
President


P.S. Dennis, the beauty of the FairTax is that it helps ALL Americans but it helps the poor and middle-income Americans the most. Helping NTU to enact the FairTax will uplift millions of other deserving folks who genuinely want and need the FairTax for their families and a better life. Please sign NTU's petition and make your donation today!



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