1. Welcome to Baptist Board, a friendly forum to discuss the Baptist Faith in a friendly surrounding.

    Your voice is missing! You will need to register to get access to all the features that our community has to offer.

    We hope to see you as a part of our community soon and God Bless!

Billionaire's Family Keeps the Fortune

Discussion in 'News & Current Events' started by preachinjesus, Jun 9, 2010.

  1. preachinjesus

    preachinjesus Well-Known Member
    Site Supporter

    Joined:
    Feb 9, 2004
    Messages:
    7,406
    Likes Received:
    99
    Found this on my RSS feed this morning:

    http://blogs.chron.com/newswatch/2010/06/houston_billionaires_fortune_t_1.html

    Two thoughts:
    1. Glad to hear his family will not have to burdened with losing 45% of his hard work to some government fiat.

    2. Isn't the democratic Congress supposed to be taxing the rich more these days? I'm confused...;)
     
  2. billwald

    billwald New Member

    Joined:
    Jun 28, 2000
    Messages:
    11,414
    Likes Received:
    1
    Two thoughts:

    1. Congress has not passed any income tax revision bill since Obama's election.

    2. This family keeping the money will NOT generate any new jobs for the working class people nor will it help the US economy in any way.
     
  3. RAdam

    RAdam New Member

    Joined:
    Apr 10, 2009
    Messages:
    2,100
    Likes Received:
    0
    What's wrong with that? It isn't the responsibility of some rich person to create new jobs or help the US economy.
     
  4. matt wade

    matt wade Well-Known Member

    Joined:
    Jan 6, 2009
    Messages:
    6,156
    Likes Received:
    77
    That's right...we better steal their money, cause it isn't helping the working class or the economy. Your computer is not helping the working class or the economy either, we'd all be happy if you donated it to charity so it could "do some good".
     
  5. billwald

    billwald New Member

    Joined:
    Jun 28, 2000
    Messages:
    11,414
    Likes Received:
    1
    I classify stirring your pot as doing some good. <G>
     
  6. matt wade

    matt wade Well-Known Member

    Joined:
    Jan 6, 2009
    Messages:
    6,156
    Likes Received:
    77
    Well, then in that case their money is doing good as well. It's stirring your pot and plenty of other liberal's pot as well.
     
  7. Robert Snow

    Robert Snow New Member

    Joined:
    Mar 9, 2009
    Messages:
    4,466
    Likes Received:
    1
    They should at least have to pay 50% in estate taxes. The wealthy should pay a higher percentage than others!
     
  8. preachinjesus

    preachinjesus Well-Known Member
    Site Supporter

    Joined:
    Feb 9, 2004
    Messages:
    7,406
    Likes Received:
    99
    Okay, so we've identified the trolls...now seriously, I am rather glad that this man's family was able to benefit from his hard work in life after his death. Just as a point, to my understanding Dan Duncan was well known throughout Texas for his philanthropic giving. Something like $500 million over his last ten years.

    What about this business of double (triple) taxation? This money had already had taxes paid on it, why tax it again?

    Why is it that some believe the rich should pay a higher % and much higher $ than others?
     
  9. thegospelgeek

    thegospelgeek New Member

    Joined:
    Oct 28, 2008
    Messages:
    1,139
    Likes Received:
    0
    Same reason I pay taxes on it when I earn it and taxes on it when I spend it. People want the gov. to take care of them and every discomfort they have. That along with making sure the politicians have enough stowed away when they retire. I'm suprised we don't pay a tax on our taxes.
     
  10. Mexdeaf

    Mexdeaf New Member

    Joined:
    Mar 14, 2005
    Messages:
    7,051
    Likes Received:
    1
    Liberals should be required to pay higher taxes just so they put their money where their mouth is.
     
  11. Robert Snow

    Robert Snow New Member

    Joined:
    Mar 9, 2009
    Messages:
    4,466
    Likes Received:
    1
    Seriously, they should pay more!
     
  12. billwald

    billwald New Member

    Joined:
    Jun 28, 2000
    Messages:
    11,414
    Likes Received:
    1
    >Liberals should be required to pay higher taxes just so they put their money where their mouth is.

    I don't think tax evasion is higher among liberals. Change the tax law and liberals will live with it.
     
  13. RAdam

    RAdam New Member

    Joined:
    Apr 10, 2009
    Messages:
    2,100
    Likes Received:
    0
    It's ridiculous that people should pay anything on an inheritance tax, much less near 50%. Someone earned that money, they should get to decide what to do with it. Instead the government steals it from them. Ridiculous.
     
  14. Robert Snow

    Robert Snow New Member

    Joined:
    Mar 9, 2009
    Messages:
    4,466
    Likes Received:
    1
    Maybe you are correct. I guess I should feel sorry for his poor family. I know that half of 9 billion would only leaves them only 4.5 billion. I just don't see how they would make it! :laugh:
     
  15. Salty

    Salty 20,000 Posts Club
    Moderator

    Joined:
    Apr 8, 2003
    Messages:
    23,772
    Likes Received:
    396
    Faith:
    Baptist
    I agree, anyone with over $1,000 in assests should pay 50% of it in taxes after their death.

    Salty

    yes, to many folks, $1,000 would be rich
     
  16. John Toppass

    John Toppass Active Member
    Site Supporter

    Joined:
    Aug 12, 2008
    Messages:
    1,080
    Likes Received:
    8
    The only reason I can think of, that would make someone want to make a person's estate (no matter how rich or poor) pay any inheritance tax on monies that have already been taxed when it was earned, would be pure GREED.
     
  17. sag38

    sag38 Active Member

    Joined:
    Jan 26, 2008
    Messages:
    4,394
    Likes Received:
    1
    Robert, when you die is it going to be OK for the government to take 50% of your estate? After all "rich" is subjective. The U.N. would probably classify you as extremely wealthy compared to the vast majority of the third world. 50% of your estate should go to a world monetary relief fund for the poor in under developed countries. Or, you could start now. Sell your computer, give the money to some relief fund, and save the rest of us from having to read about your desire to steal that which you have not earned in the name of government.
     
  18. Robert Snow

    Robert Snow New Member

    Joined:
    Mar 9, 2009
    Messages:
    4,466
    Likes Received:
    1
    I don't see how it could be greed! The money isn't coming to me, it's tax it goes to the government. It will be used to pay social security benefits, veterans benefits, build roads, etc.
     
  19. Robert Snow

    Robert Snow New Member

    Joined:
    Mar 9, 2009
    Messages:
    4,466
    Likes Received:
    1
    If I had 9 billion, I would not complain. I know the argument about where the bar should be set, but it has to be set somewhere, and I think a consensus could be reached. After all, someone said the word "greed." To be left with only 4.5 billion and to complain about it, in my book that is greed on steroids.
     
  20. sag38

    sag38 Active Member

    Joined:
    Jan 26, 2008
    Messages:
    4,394
    Likes Received:
    1
    How is it greed? Rather, I think it's called jealousy. The government has no right to any of that money. Neither do you. The government didn't earn it and neither did you. You are simply envious of that which isn't yours. It's called wealthy envy and it's shameful.
     
Loading...