Sanders transforms into contender, still pitches revolution

[Publicus]

Here is an interesting profile of those evil, selfish millionaires who have obviously never done anything but take.

http://www.thesimpledollar.com/portrait-of-a-millionaire/

The more millionaires and billionaires the better for the economy, the society and for those who earn the big bucks.

The problem is not that they take.

With notable exception such as Bill Gates and Warren Buffet, the problem with these guyz is that they don't return much if anything. Taxes number one. Yes the tax code is screwy and Bernie would address that more than the others, but so would HR Clinton address it too.

The biggest "return" since Citizens United has been to the rightwhingers running for Potus by the rightwhingenut moneyguyz. Supported and advocated by fellow rightwhingers.

[sgtsabai]

http://www.ripoffreport.com/r/the-simple-dollar/huxley-iowa-/the-simple-dollar-trent-hamm-is-a-racist-liar-and-incompetent-huxley-iowa-552703. I put myself through college also, oh but it was with a socialist program called the GI Bill. I do have to admit I worked also. I don't need to hear bullcrap about I'm now rich and I deserve it all. I never made the "millionaire" class, would not have fitted in anyway. I'm not into ripping people off, I'm into helping people. I did work for the people, you know real people, those that need help. Law Enforcement, Firefighter, and finishing as a surveyor for flood drainage. What the hell do "millionairs" and their ilk really do for people? Oh, I hired 100 people, yea and paid them crap wages with no benefits. How many do the Walton's hire, that the taxpayer ends up paying for? Bernie is right, tax the rich and make them pay their fair share, for a change.

[SpokaneAl]

Tax hikes for everyone - let's all feel the burn! - and of course we should remember that proposed tax increases never seem to be enough as, historically, the majority of new programs come in over budget and underfunded.

But really, it doesn't matter because he is finished, done and toast.

http://www.politico.com/story/2016/03/bernie-sanders-tax-increases-220267?cmpid=sf#ixzz41xYLGeST

Edited March 5, 2016 by SpokaneAl

[CWMcMurray]

http://www.ripoffreport.com/r/the-simple-dollar/huxley-iowa-/the-simple-dollar-trent-hamm-is-a-racist-liar-and-incompetent-huxley-iowa-552703. I put myself through college also, oh but it was with a socialist program called the GI Bill. I do have to admit I worked also. I don't need to hear bullcrap about I'm now rich and I deserve it all. I never made the "millionaire" class, would not have fitted in anyway. I'm not into ripping people off, I'm into helping people. I did work for the people, you know real people, those that need help. Law Enforcement, Firefighter, and finishing as a surveyor for flood drainage. What the hell do "millionairs" and their ilk really do for people? Oh, I hired 100 people, yea and paid them crap wages with no benefits. How many do the Walton's hire, that the taxpayer ends up paying for? Bernie is right, tax the rich and make them pay their fair share, for a change.

The GI Bill is in no way a socialist program

It is a scholarship that is traded for years of service to your country

These are similar to other types of scholarships offered by many other organizations that agree to pay for college in return for an agreed number of years of service after you graduate

The main difference with GI Bill is you pay the service first and then the government pays the scholarship

I think even those farthest to the right would never have a problem with free college in return for government service

[lannarebirth]

Tax hikes for everyone - let's all feel the burn! - and of course we should remember that proposed tax increases never seem to be enough as, historically, the majority of new programs come in over budget and underfunded.

But really, it doesn't matter because he is finished, done and toast.

http://www.politico.com/story/2016/03/bernie-sanders-tax-increases-220267?cmpid=sf#ixzz41xYLGeST

$4,700 tax increase? Let me weigh that against the $21k (before added deductibles) I'm paying in healthcare insurance for 4 now. OK, sign me up!

[up2u2]

Tax hikes for everyone - let's all feel the burn! - and of course we should remember that proposed tax increases never seem to be enough as, historically, the majority of new programs come in over budget and underfunded.

But really, it doesn't matter because he is finished, done and toast.

http://www.politico.com/story/2016/03/bernie-sanders-tax-increases-220267?cmpid=sf#ixzz41xYLGeST

Of course taxes will increase if a nation transfers payments made to 'for profit' Health Insurance companies to 'not for profit' public funded Health cover. So instead of paying an insurance company $5000 a year for Health cover you pay the government a $500 premium per year. You save $4500. What you are actually doing is cutting out the greed of corporate America. At the moment if a Hospital provides a bandaid to someone in a Hospital the Hospital charges the Insurance company through the ChargeMaster system $23 for that 10 cent bandaid. The 'for profit' Insurance company simply pads the $23 bandaid into insurance premiums. Under a 'not for profit' system the government sets the price they are prepared to pay a provider. So the cost of a bandaid is set at $0.10 + reasonable facility overheads + current Corporate ROI profit margin, say $0.95.

Is the 'for profit' health care system going to sit back and consider the best interest of the American people or will they fight to keep their obscene profits flooding in at the expense of the American people? Call me crazy but I think the latter will be the case. Read all about it on Politico.

[CWMcMurray]

I agree the cost of single party healthcare could easily be less for the tax payer but only if the bought and paid for politicians allow it to be so...

First would have to repeal laws put in by the bought and paid for politicians that artificially inflate health care costs in America

Like the below that congress pass that forbids the US government from negotiating with pharma companies to reduce costs

http://www.pbs.org/newshour/making-sense/medicare-allow-price-gouging-prescription-drugs/

[up2u2]

Okay so there is legislation that protects Pharma from government negotiating better prices for Pharmaceuticals. So they wont mind government not licensing and legally enforcing their drug patents.

So a potential manufacturer can analyse a drug and produce that drug and sell it at a much lower price. A 'free market' without any government interference. Done. Problem solved.

Oh no that's right Corporate America only believes in a government big enough to protect their profits. Small government for regulation, HUGE government to protect their profits. Silly me what was I thinking. lol

[SpokaneAl]

The problem, as I see it anyway, is the law of unintended consequences. Many here seem to be only focusing on those specific tax increases of the middle class. I see a much larger issue.

- Sanders would create and expand payroll taxes. He's proposed a new 6.2 percent tax on employers as well as an additional 0.2 percent payroll tax on both employers and their workers. - Any tax increase on employers is going to be largely paid by the employee.

- Corporate taxes would go up - This means that either costs of goods and services are also going to rise, or the corps will cut cost other ways, by perhaps skipping that employee raise, lowering that 401(k) matching or not hiring those additional employees.

- Sanders would almost triple capital gains taxes to 64 percent, a level unseen since World War I - rather than fund the growth of that corp via stock purchases, investors will measure total return and look elsewhere. This could also increase the cost of borrowing for those corps and small business wanting to grow, buy new equipment or fund a new product as demand for stock offerings could dry up. This would also dramatically impact the sale of small businesses and farms in that huge pieces of long term profits would be handed over to the government.

- He would create two big new excise taxes, including a carbon tax. - Again the result is a direct impact on the consumer's pocketbook via higher costs of good and/or services or perhaps a corp cutback where that person works.

- He would also create a new financial transaction tax that would charge 0.5 percent on stock sales. This would directly impact anyone who is investing in mutual funds via an IRA or a 401(k) or an investment outside a qualified plan, with the net result generating higher costs and lower total returns.

I thought that this final statement was also telling -

"Many of Sanders's tax increases are so big and novel that it tested the ability of the Tax Policy Center to predict their likely effects.

“It was a difficult estimating task,” said Frank Sammartino, a senior fellow at the group. “For changes of this magnitude, we’re really going into unknown territory."

Anyway, our perspectives and differing views on the subject make it an interesting discussion. Cheers.

Edited March 5, 2016 by SpokaneAl

[lannarebirth]

The problem, as I see it anyway, is the law of unintended consequences. Many here seem to be only focusing on those specific tax increases of the middle class. I see a much larger issue.

- Sanders would create and expand payroll taxes. He's proposed a new 6.2 percent tax on employers as well as an additional 0.2 percent payroll tax on both employers and their workers. - Any tax increase on employers is going to be largely paid by the employee.

- Corporate taxes would go up - This means that either costs of goods and services are also going to rise, or the corps will cut cost other ways, by perhaps skipping that employee raise, lowering that 401(k) matching or not hiring those additional employees.

- Sanders would almost triple capital gains taxes to 64 percent, a level unseen since World War I - rather than fund the growth of that corp via stock purchases, investors will measure total return and look elsewhere. This could also increase the cost of borrowing for those corps and small business wanting to grow, buy new equipment or fund a new product as demand for stock offerings could dry up. This would also dramatically impact the sale of small businesses and farms in that huge pieces of long term profits would be handed over to the government.

- He would create two big new excise taxes, including a carbon tax. - Again the result is a direct impact on the consumer's pocketbook via higher costs of good and/or services or perhaps a corp cutback where that person works.

- He would also create a new financial transaction tax that would charge 0.5 percent on stock sales. This would directly impact anyone who is investing in mutual funds via an IRA or a 401(k) or an investment outside a qualified plan, with the net result generating higher costs and lower total returns.

I thought that this final statement was also telling -

"Many of Sanders's tax increases are so big and novel that it tested the ability of the Tax Policy Center to predict their likely effects.

“It was a difficult estimating task,” said Frank Sammartino, a senior fellow at the group. “For changes of this magnitude, we’re really going into unknown territory."

Anyway, our perspectives and differing views on the subject make it an interesting discussion. Cheers.

Thanks for your thoughts Al. Could you flesh out the details please on your capital gains synopsis?

Anecdotally, I would be affected by the financial transaction tax. I trade S&P Futures contracts. generally on a short term basis, with many millions of underlying value traded per week. I don't do it professionally, I do it for my own account and I don't see any problem with the tax.

The truth is I add no real value to the market. I am a speculator only and if the tax is so onerous that people like me decide it is better to withdraw from trading then so be it.

[CWMcMurray]

Well .. I've done my part .. Now it's on the rest of the Democrats (and perhaps the Attorney General) to see if will be keeping my vote in the fall

Any wanting to vote in Bangkok, the Roadhouse polling station is super convenient.

Edited March 5, 2016 by CWMcMurray

[lannarebirth]

- Sanders would almost triple capital gains taxes to 64 percent, a level unseen since World War I

- rather than fund the growth of that corp via stock purchases,

-investors will measure total return and look elsewhere.

-This could also increase the cost of borrowing for those corps and small business wanting to grow, buy new equipment or fund a new product as demand for stock offerings could dry up.

This would also dramatically impact the sale of small businesses and farms in that huge pieces of long term profits would be handed over to the government.

From what I've read I think he wants to tax capital gains as ordinary income, which at it's highest rate is 39.6%. I think that's too high but I also think 15% LT CG rate is too low. ST CG's are already taxed as ordinary income.

You lost me on the stock purchases. Are you talking about corporate stock repurchases? If so I think most of that is an exercise in cooking the books and padding stock options in the executive suite.

Investors should always measure total return and if that causes them to look elsewhere, hopefully in the real economy, then so be it.

The cost of borrowing in a ZIRP environment is negligible. If you can't fund your enterprise at ZIRP then God help you.

I have a small business and a couple of commercial buildings (25% LT CG's Rate BTW). I'll be leaving them to my children to do with as they please. The tax policy at a given point in time will not be a determinant for me.

Edited March 5, 2016 by lannarebirth

[SpokaneAl]

- Sanders would almost triple capital gains taxes to 64 percent, a level unseen since World War I

- rather than fund the growth of that corp via stock purchases,

-investors will measure total return and look elsewhere.

-This could also increase the cost of borrowing for those corps and small business wanting to grow, buy new equipment or fund a new product as demand for stock offerings could dry up.

This would also dramatically impact the sale of small businesses and farms in that huge pieces of long term profits would be handed over to the government.

From what I've read I think he wants to tax capital gains as ordinary income, which at it's highest rate is 39.6%. I think that's too high but I also think 15% LT CG rate is too low. ST CG's are already taxed as ordinary income.

You lost me on the stock purchases. Are you talking about corporate stock repurchases? If so I think most of that is an exercise in cooking the books and padding stock options in the executive suite.

Investors should always measure total return and if that causes them to look elsewhere, hopefully in the real economy, then so be it.

The cost of borrowing in a ZIRP environment is negligible. If you can't fund your enterprise at ZIRP then God help you.

I have a small business and a couple of commercial buildings. I'll be leaving them to my children to do with as they please. The tax policy at a given point in time will not be a determinant for me.

Sorry for the confusion on stock purchases - I was not refurring to Corp stock repurchases - that is merely a best use/highest return decision by the corp.

While, as you say, in a ZIRP environment, assuming a startup can get a loan, the cost really is negligible. However, when a company decides to obtain funding they have two choices - borrow or sell ownership in the company. I think that perhaps higher capital gains rates could drive investors elsewhere, and possibly result in less options for growth, at the expense of penalizing both sides.

For the smaller investor, it is again, just higher costs has he/she attempts to fund retirement etc.

Your plan on leaving your business and buildings to your children is one that many of us will do. A potential estate tax problem is that those taxes could force the children to sell rather than keep the business or farm.

And who knows how long this ZIRP environment will last.

Edited March 5, 2016 by SpokaneAl

[up2u2]

Futures Trading should be taxed at the highest tax threshold 90%. The activity doesn't actually create anything of value. It is dead money. Intergenerational wealth transfer again should be taxed at the highest tax threshold 90% via a Death Tax. This avoids wealth being concentrated in a small proportion of the Nation.

[lannarebirth]

- Sanders would almost triple capital gains taxes to 64 percent, a level unseen since World War I

- rather than fund the growth of that corp via stock purchases,

-investors will measure total return and look elsewhere.

-This could also increase the cost of borrowing for those corps and small business wanting to grow, buy new equipment or fund a new product as demand for stock offerings could dry up.

This would also dramatically impact the sale of small businesses and farms in that huge pieces of long term profits would be handed over to the government.

From what I've read I think he wants to tax capital gains as ordinary income, which at it's highest rate is 39.6%. I think that's too high but I also think 15% LT CG rate is too low. ST CG's are already taxed as ordinary income.

You lost me on the stock purchases. Are you talking about corporate stock repurchases? If so I think most of that is an exercise in cooking the books and padding stock options in the executive suite.

Investors should always measure total return and if that causes them to look elsewhere, hopefully in the real economy, then so be it.

The cost of borrowing in a ZIRP environment is negligible. If you can't fund your enterprise at ZIRP then God help you.

I have a small business and a couple of commercial buildings. I'll be leaving them to my children to do with as they please. The tax policy at a given point in time will not be a determinant for me.

Sorry for the confusion on stock purchases - I was not refusing to Corp stock repurchases - that is merely a best use/highest return decision by the corp.

While, as you say, in a ZIRP environment, assuming a startup can get a loan, the cost really is negligible. However, when a company decides to obtain funding they have two choices - borrow or sell ownership in the company. I think that perhaps higher capital gains rates could drive investors elsewhere, and possibly result in less options for growth, at the expense of penalizing both sides.

For the smaller investor, it is again, just higher costs has he/she attempts to fund retirement etc.

And who knows how long this ZIRP environment will last.

Wouldn't you agree Al, that there are a whole shitload of companies operating now that never should have got funding in the first place? There's too much money sloshing around and IMO that has led to a whole lot of malinvestment. Good companies, with good business plans, with growth potential and dare I say it "profits" will always find lenders or those willing to take equity stakes in return for capital.

It appears ZIRP is going to last until they implement NIRP. I can't even begin to guess what unintended consequences that will unleash.

[SpokaneAl]

Futures Trading should be taxed at the highest tax threshold 90%. The activity doesn't actually create anything of value. It is dead money. Intergenerational wealth transfer again should be taxed at the highest tax threshold 90% via a Death Tax. This avoids wealth being concentrated in a small proportion of the Nation.

Futures trading was and is used by many farmers and others who make their living dealing in commodities to lock in prices and avoid the worry about whims of the market on the price on a future sale date. It is also used for currencies etc and offers investors another option in their investment tool bag.

I don't quite understand why my estate should be taxed at such a high rate. I grew that estate and paid taxes along the way, and now just because I die, the majority of my estate should be confiscated, via taxes, by the gov't?

Gotta disagree with you on that one.

Edited March 5, 2016 by SpokaneAl

[lannarebirth]

Futures Trading should be taxed at the highest tax threshold 90%. The activity doesn't actually create anything of value. It is dead money. Intergenerational wealth transfer again should be taxed at the highest tax threshold 90% via a Death Tax. This avoids wealth being concentrated in a small proportion of the Nation.

Oh c'mon! I'll bet you'd prefer it was taxed at 110%

[chuckd]

Futures Trading should be taxed at the highest tax threshold 90%. The activity doesn't actually create anything of value. It is dead money. Intergenerational wealth transfer again should be taxed at the highest tax threshold 90% via a Death Tax. This avoids wealth being concentrated in a small proportion of the Nation.

Spoken like a true liberal European who pays no US taxes.

[CWMcMurray]

http://www.ripoffreport.com/r/the-simple-dollar/huxley-iowa-/the-simple-dollar-trent-hamm-is-a-racist-liar-and-incompetent-huxley-iowa-552703. I put myself through college also, oh but it was with a socialist program called the GI Bill. I do have to admit I worked also. I don't need to hear bullcrap about I'm now rich and I deserve it all. I never made the "millionaire" class, would not have fitted in anyway. I'm not into ripping people off, I'm into helping people. I did work for the people, you know real people, those that need help. Law Enforcement, Firefighter, and finishing as a surveyor for flood drainage. What the hell do "millionairs" and their ilk really do for people? Oh, I hired 100 people, yea and paid them crap wages with no benefits. How many do the Walton's hire, that the taxpayer ends up paying for? Bernie is right, tax the rich and make them pay their fair share, for a change.

The GI Bill is in no way a socialist program

It is a scholarship that is traded for years of service to your country

These are similar to other types of scholarships offered by many other organizations that agree to pay for college in return for an agreed number of years of service after you graduate

The main difference with GI Bill is you pay the service first and then the government pays the scholarship

I think even those farthest to the right would never have a problem with free college in return for government service

Would even take this to the next step...

I think there would be a whole lot less opposition to 'free college' if there was some sorting government service requirement that went with it...

Doesn't mean everyone has to or should join the army.. But there are so many other things that students could do to help

Could be volunteering and tutors or mentors for disadvantaged kids or community service linked to the amount of benefits received or peace Corp after graduation or Americorps or habitat for humanity

Make free college not a 'right' but something that is earned by giving back to the community in a positive way

[up2u2]

Futures Trading should be taxed at the highest tax threshold 90%. The activity doesn't actually create anything of value. It is dead money. Intergenerational wealth transfer again should be taxed at the highest tax threshold 90% via a Death Tax. This avoids wealth being concentrated in a small proportion of the Nation.

Futures trading was and is used by many farmers and others who make their living dealing in commodities to lock in prices and avoid the worry about whims of the market on the price on a future sale date. It is also used for currencies etc and offers investors another option in their investment tool bag.

I don't quite understand why my estate should be taxed at such a high rate. I grew that estate and paid taxes along the way, and now just because I die, the majority of my estate should be confiscated, via taxes, by the gov't?

Gotta disagree with you on that one.

"others who make their living dealing in commodities" or as I refer to them as parasites. lol Services no longer required. All I am doing is providing a 'free market'. Along with a 'free market' to make money there is also a 'free market' to lose money.

"I grew that estate and paid taxes along the way" as you should and you earned those assets and are entitled to the benefits but unless you have a plan on taking it with you the money goes back into circulation for others to benefit from as you had the opportunity too.

As for the next generation of the wealthy I will offer them the same sage advice handed out by Right Wingers 'get a hair cut and get a job'. The age of entitlement is over.

[SpokaneAl]

Futures Trading should be taxed at the highest tax threshold 90%. The activity doesn't actually create anything of value. It is dead money. Intergenerational wealth transfer again should be taxed at the highest tax threshold 90% via a Death Tax. This avoids wealth being concentrated in a small proportion of the Nation.

Futures trading was and is used by many farmers and others who make their living dealing in commodities to lock in prices and avoid the worry about whims of the market on the price on a future sale date. It is also used for currencies etc and offers investors another option in their investment tool bag.

I don't quite understand why my estate should be taxed at such a high rate. I grew that estate and paid taxes along the way, and now just because I die, the majority of my estate should be confiscated, via taxes, by the gov't?

Gotta disagree with you on that one.

"others who make their living dealing in commodities" or as I refer to them as parasites. lol Services no longer required. All I am doing is providing a 'free market'. Along with a 'free market' to make money there is also a 'free market' to lose money.

"I grew that estate and paid taxes along the way" as you should and you earned those assets and are entitled to the benefits but unless you have a plan on taking it with you the money goes back into circulation for others to benefit from as you had the opportunity too.

As for the next generation of the wealthy I will offer them the same sage advice handed out by Right Wingers 'get a hair cut and get a job'. The age of entitlement is over.

Definition of commodities - a raw material or primary agricultural product that can be bought and sold, such as copper or coffee.

Obviously only a parasite would make a living producing such products.

And you really believe that when the gov't confiscates my assets via taxes they are truly put back into circulation?

Perhaps a refresher in basic economics would be worth your time.

Edited March 5, 2016 by SpokaneAl

[sgtsabai]

The government does not "confiscate" your assets. You pay as you should to keep America running. You pay to help your fellow citizen, ahem that used to be popular. You pay for infrastructure, which is badly in need of rebuilding but the Republicans won't let that happen. You pay for police, for fire protection, for street lights, highways, yes you pay, as you should. The problem in America is people no longer care about America or their fellow citizens. Too many years of the Herr Goebbels technique, lie, lie, lie and more lies. If you grow something (not agribusiness), if you make something, if you provide the transportation for goods, yes you have contributed. What in the hell do a bunch of suits in Wall Street contribute? Loans to small business, nope. Loans to people like me, nope. They make money from money and it doesn't help anybody but themselves and then when they get caught with their pants down the middle/working class who do pay their fair share have to bail the pricks out. Tax rate under Eisenhower was what, 90%? How great did America grow then? American can't hardly make anything anymore and a country that can't sustain itself is doomed to fail. Thrown in a few trillion wasted on unnecessary, illegal wars and tick tock, tick tock.

[up2u2]

Futures trading was and is used by many farmers and others who make their living dealing in commodities to lock in prices and avoid the worry about whims of the market on the price on a future sale date. It is also used for currencies etc and offers investors another option in their investment tool bag.

I don't quite understand why my estate should be taxed at such a high rate. I grew that estate and paid taxes along the way, and now just because I die, the majority of my estate should be confiscated, via taxes, by the gov't?

Gotta disagree with you on that one.

"others who make their living dealing in commodities" or as I refer to them as parasites. lol Services no longer required. All I am doing is providing a 'free market'. Along with a 'free market' to make money there is also a 'free market' to lose money.

"I grew that estate and paid taxes along the way" as you should and you earned those assets and are entitled to the benefits but unless you have a plan on taking it with you the money goes back into circulation for others to benefit from as you had the opportunity too.

As for the next generation of the wealthy I will offer them the same sage advice handed out by Right Wingers 'get a hair cut and get a job'. The age of entitlement is over.

Definition of commodities - a raw material or primary agricultural product that can be bought and sold, such as copper or coffee.

Obviously only a parasite would make a living producing such products.

And you really believe that when the gov't confiscates my assets via taxes they are truly put back into circulation?

Perhaps a refresher in basic economics would be worth your time.

A commodities 'Futures Contract' does not produce any products. It is a piece of paper.

Sorry you don't get a say. Your dead. Your out of the game. Yep 90% of your assets get put back into the economy. Health care, education, infrastructure, clean energy research, EPA funding, assisting the poor, unemployed and disadvantaged, medical research, police force etc.

[lannarebirth]

Futures trading was and is used by many farmers and others who make their living dealing in commodities to lock in prices and avoid the worry about whims of the market on the price on a future sale date. It is also used for currencies etc and offers investors another option in their investment tool bag.

I don't quite understand why my estate should be taxed at such a high rate. I grew that estate and paid taxes along the way, and now just because I die, the majority of my estate should be confiscated, via taxes, by the gov't?

Gotta disagree with you on that one.

"others who make their living dealing in commodities" or as I refer to them as parasites. lol Services no longer required. All I am doing is providing a 'free market'. Along with a 'free market' to make money there is also a 'free market' to lose money.

"I grew that estate and paid taxes along the way" as you should and you earned those assets and are entitled to the benefits but unless you have a plan on taking it with you the money goes back into circulation for others to benefit from as you had the opportunity too.

As for the next generation of the wealthy I will offer them the same sage advice handed out by Right Wingers 'get a hair cut and get a job'. The age of entitlement is over.

Definition of commodities - a raw material or primary agricultural product that can be bought and sold, such as copper or coffee.

Obviously only a parasite would make a living producing such products.

And you really believe that when the gov't confiscates my assets via taxes they are truly put back into circulation?

Perhaps a refresher in basic economics would be worth your time.

A commodities 'Futures Contract' does not produce any products. It is a piece of paper.

Sorry you don't get a say. Your dead. Your out of the game. Yep 90% of your assets get put back into the economy. Health care, education, infrastructure, clean energy research, EPA funding, assisting the poor, unemployed and disadvantaged, medical research, police force etc.

There's never a rabid dog emoticon when you need one.

[SpokaneAl]

Futures trading was and is used by many farmers and others who make their living dealing in commodities to lock in prices and avoid the worry about whims of the market on the price on a future sale date. It is also used for currencies etc and offers investors another option in their investment tool bag.

I don't quite understand why my estate should be taxed at such a high rate. I grew that estate and paid taxes along the way, and now just because I die, the majority of my estate should be confiscated, via taxes, by the gov't?

Gotta disagree with you on that one.

"others who make their living dealing in commodities" or as I refer to them as parasites. lol Services no longer required. All I am doing is providing a 'free market'. Along with a 'free market' to make money there is also a 'free market' to lose money.

"I grew that estate and paid taxes along the way" as you should and you earned those assets and are entitled to the benefits but unless you have a plan on taking it with you the money goes back into circulation for others to benefit from as you had the opportunity too.

As for the next generation of the wealthy I will offer them the same sage advice handed out by Right Wingers 'get a hair cut and get a job'. The age of entitlement is over.

Definition of commodities - a raw material or primary agricultural product that can be bought and sold, such as copper or coffee.

Obviously only a parasite would make a living producing such products.

And you really believe that when the gov't confiscates my assets via taxes they are truly put back into circulation?

Perhaps a refresher in basic economics would be worth your time.

A commodities 'Futures Contract' does not produce any products. It is a piece of paper.

Sorry you don't get a say. Your dead. Your out of the game. Yep 90% of your assets get put back into the economy. Health care, education, infrastructure, clean energy research, EPA funding, assisting the poor, unemployed and disadvantaged, medical research, police force etc.

A commodities future contract allows that farmer to purchase supplies, product etc for future years. It allows the farmer to budget, pay the bills, and yes even feed the family. It also helps keep the commodities that make up what you and I consume each day competitively priced.

Yup I do get a say. What that huge level of confiscation does is generate a giant cottage industry designed to help me avoid those obscene taxes. Those large levels of confiscation generate nothing but friction in the economy as bureaucrats, such as your beloved Sanders, who has spent his entire adult life living off the gov't teat, continue to think that a bigger and bigger gov't is the ultimate answer.

Edited March 5, 2016 by SpokaneAl

[up2u2]

Definition of commodities - a raw material or primary agricultural product that can be bought and sold, such as copper or coffee.

Obviously only a parasite would make a living producing such products.

And you really believe that when the gov't confiscates my assets via taxes they are truly put back into circulation?

Perhaps a refresher in basic economics would be worth your time.

A commodities 'Futures Contract' does not produce any products. It is a piece of paper.

Sorry you don't get a say. Your dead. Your out of the game. Yep 90% of your assets get put back into the economy. Health care, education, infrastructure, clean energy research, EPA funding, assisting the poor, unemployed and disadvantaged, medical research, police force etc.

A commodities future contract allows that farmer to purchase supplies, product etc for future years. It allows the farmer to budget, pay the bills, and yes even feed the family. It also helps keep the commodities that make up what you and I consume each day competitively priced.

Yup I do get a say. What that huge level of confiscation does is generate a giant cottage industry designed to help me avoid those obscene taxes. Those large levels of confiscation generate nothing but friction in the economy as bureaucrats, such as your beloved Sanders, who has spent his entire adult life living off the gov't teat, continue to think that a bigger and bigger gov't is the ultimate answer.

It actually does none of those things. It is just a betting game Wall Street made up to make money. How many acres of Corn did Lannarebirth harvest last year? That's right not a corn cob to be seen.

Well you get one say. Yes Bernie has spent his life serving his community and representing them not Corporate America or Big Pharma or Big oil and coal, or Wall Street. He actually did what he was paid to do and now wants a shot at representing the best interests of ALL the American People. America doesn't need less Bernies it is in desperate need of more Bernies. You don't need small government you just need a few more Bernies and get rid of the corporate shills in Congress.

[lannarebirth]

Definition of commodities - a raw material or primary agricultural product that can be bought and sold, such as copper or coffee.

Obviously only a parasite would make a living producing such products.

And you really believe that when the gov't confiscates my assets via taxes they are truly put back into circulation?

Perhaps a refresher in basic economics would be worth your time.

A commodities 'Futures Contract' does not produce any products. It is a piece of paper.

Sorry you don't get a say. Your dead. Your out of the game. Yep 90% of your assets get put back into the economy. Health care, education, infrastructure, clean energy research, EPA funding, assisting the poor, unemployed and disadvantaged, medical research, police force etc.

A commodities future contract allows that farmer to purchase supplies, product etc for future years. It allows the farmer to budget, pay the bills, and yes even feed the family. It also helps keep the commodities that make up what you and I consume each day competitively priced.

Yup I do get a say. What that huge level of confiscation does is generate a giant cottage industry designed to help me avoid those obscene taxes. Those large levels of confiscation generate nothing but friction in the economy as bureaucrats, such as your beloved Sanders, who has spent his entire adult life living off the gov't teat, continue to think that a bigger and bigger gov't is the ultimate answer.

It actually does none of those things. It is just a betting game Wall Street made up to make money. How many acres of Corn did Lannarebirth harvest last year? That's right not a corn cob to be seen.

Well you get one say. Yes Bernie has spent his life serving his community and representing them not Corporate America or Big Pharma or Big oil and coal, or Wall Street. He actually did what he was paid to do and now wants a shot at representing the best interests of ALL the American People. America doesn't need less Bernies it is in desperate need of more Bernies. You don't need small government you just need a few more Bernies and get rid of the corporate shills in Congress.

No corn but I did grow rice and I did trade in Rice Futures. To be honest though, that was just a coincidence. It wasn't a hedging strategy. Anyhow, I'll admit my trading as a speculator in the futures market adds no value to the market, save for a teeny tiny extra bit of liquidity. That said, I will not agree it has no value to the greater economy. I DO generate income, which I DO pay taxes on that income which presumably goes to that long list of societal needs you listed. You're Welcome.

[sgtsabai]

"What that huge level of confiscation does is generate a giant cottage industry designed to help me avoid those obscene taxes." And exactly how "obscene" are those taxes that you damn well owe? "Huge level of confiscation", nobody pays a huge level and it isn't confiscation it is what you damn well owe, unless you want to compare those that actually work for a living compared to those that use money to make money and produce nothing. Rich folks, corporations pay little to nothing, middle/working and yes even the poor pay more in % now than the plutocrats do. Oh, I can hear it coming, the 49%, oh yea, lay that one on. When people that don't pay income tax because they don't really make enough, ahem like wallymart etc. workers, they buy household goods, medicines etc. they pay taxes on their purchases and compared to the rich folks income it is one hell of a lot higher. I spent my life serving the people, at times with people trying to kill me (some Americans would still like to and to quote FDR "I welcome their hatred"), putting my ass on the line for all of you. I didn't make big money, but I damn well paid taxes and under today's regressive tax system it was more than the rich pay. We need to go back to the days when the rich paid their fair share and if you wanted to start a war it was paid for by raising, not lowering taxes on those that make a profit out of war. Bernie, and only Bernie is on the right track and if you want America to survive you better start praying or what ever for Bernie to be the next pres.

[SpokaneAl]

"What that huge level of confiscation does is generate a giant cottage industry designed to help me avoid those obscene taxes." And exactly how "obscene" are those taxes that you damn well owe? "Huge level of confiscation", nobody pays a huge level and it isn't confiscation it is what you damn well owe, unless you want to compare those that actually work for a living compared to those that use money to make money and produce nothing. Rich folks, corporations pay little to nothing, middle/working and yes even the poor pay more in % now than the plutocrats do. Oh, I can hear it coming, the 49%, oh yea, lay that one on. When people that don't pay income tax because they don't really make enough, ahem like wallymart etc. workers, they buy household goods, medicines etc. they pay taxes on their purchases and compared to the rich folks income it is one hell of a lot higher. I spent my life serving the people, at times with people trying to kill me (some Americans would still like to and to quote FDR "I welcome their hatred"), putting my ass on the line for all of you. I didn't make big money, but I damn well paid taxes and under today's regressive tax system it was more than the rich pay. We need to go back to the days when the rich paid their fair share and if you wanted to start a war it was paid for by raising, not lowering taxes on those that make a profit out of war. Bernie, and only Bernie is on the right track and if you want America to survive you better start praying or what ever for Bernie to be the next pres.

The subject that you refer to was estate taxes - why exactly does my estate owe taxes - after I have already paid taxes, saved, invested and did my best to nurture and grow a nest egg - purely and only because I died? - not income taxes, although I do wonder, with the wealthier currently paying the vast majority of income taxes, and yes, most of the bottom half paying nothing - I was a tax preparer for several years - how much is their fair share?

Thank you for your service, I served as well.

P.S. I do admire your enthusiasm.

Edited March 5, 2016 by SpokaneAl

[sgtsabai]

And the estate tax is so little that your family will not have to worry. The idea behind the estate tax was the next generations actually have to go to work instead of having a silver spoon in their mouth. The wealthy may pay more total than the rest of us peons, but they still don't pay their fair share and haven't for years, neither do corporations. Put the rate back to the Eisenhower era for the wealthy. Percentage wise they pay little compared to the working person. Ahem, Rumnuts, oops, might confuse with Rumsfield, Romney only paid 14% on all that money he made screwing working people over. The bottom half shouldn't have to pay, they can't earn enough but they make the money for the wealthy. The more you make thanks to the US and it's people the more you should owe, it's called progressive taxation and is only proper. Today's wage earner makes the same or less than 40 years ago while the rich take all the money. Oh, and please never ever thank me for me service!