interesting column. it's nothing new, but interesting to read--especially since it's on a mainstream site like cbsnews.com

c.

wow.

i actually have no problem with this.

There is also a perception issue. The Media - especially television entertainment and magazines but also the press - is going through a phase of wealth obsession and idolatry. The reality of increased wealth concentration and media cheerleading, I fear, combine to make people who do good work for good but not astronomical pay (nurses, doctors, teachers) feel inadequate and frustrated in a country that historically has had minimal class resentment.


This is the most pertinent paragraph here, and the only one with real far reaching consequences for our society.

I'll have to disagree with the "historically has had minimal class resentment" statement. This country has always had class resentment; it's just that in America, you do have a better opportunity to do something about it.

The "media" should also look at the ginormous amount of wealth that they create basically selling a disposable product; and also what they pay themselves before they start going after the super-rich or anybody who actually works for a living.

People who complain about "wealth concentration" are probably Commies anyways. And aligned with the neo-fascist-narco-terrorist kabal. Send them to Gitmo.....

I was basically saying that one of the main problems in this society is the desire to get/be rich, but have no worth or talent....kinda like you, Bloor

i am not a commie but do have a problem with wealth concentration...that is why I believe in progressive tax structures as well as estate taxes - all w/o loopholes.

but I don't agree with people that CEO's or athletes shouldn't be making a shit load of money - they should if they can perform. if I could score 40 points in an NBA game I would expect to get paid. i just think they need to get taxed.

Or failing that, just wait for your parents to die--I mean, they worked hard....

I'd be offended if it wasnt true.

The Estate Tax is complete bullshit; its like punishment as if you havent been punished (read:taxed) enough just for working hard and actually adding something to society instead of taking from it, well, we're gonna tax that money again.....

My main tax beef is with corporate tax breaks (Corporate Welfare if you will); that's were the bullshit stops walking and suddenly turns into Michael Johnson.

what you are usually being taxed on w/ the estate tax is gains in property value that you were never taxed on in the first place - the gain is only recognized and taxed when there is a realizing event such as a transfer to another party. Property holders get to put off their tax bill for years and years and if there was no estate tax these accessions to wealth in property would never be taxed. Why should people get such a big tax break just because they are able to put their money into property?

i would say it would be fine to get rid of the estate tax if we could tax property gains in some other way but it would be difficult administratively and harder on people financially - you would have to get an appraisal every year or something and pay tax based on the increase in value with cash you don't really have at the time.

oh, i understand what the tax is(i own commercial real estate); what you fail to see is that property rarely gains value without spending some money on it (adding some buildings, or infrastructure); much of that will be taxed. Also, you are assessed property taxes which rise in accordance to the land values and the most recent appraisal. Let's also remember that any income that the property in question creates is taxed as well.



i think the capital gains tax is bullshit too.

Sure, you can add value to your property by doing renovations, or adding a room, but sometimes values rise because of market demands. My aunt and uncle bought a place in Canmore, Alberta. It's a nice mountain town that is booming like crazy. They did nothing to their house and its value doubled in two years. They decided to cash in and move to a more reasonable area, but what if they had died before they sold? Do you not think it would be fair that their estate be taxed for the increased value?

what about stocks and other property that you don't have to put any of your own money into?

but let's not argue about tax policy - frankly what I learned in income tax class was that it is insanely complex and really fucked up in a lot of places. all i want is for the wealthy to pay taxes and not avoid it through stocking away a bunch of their money in property and then giving it to their kids.

capital gains and estate taxes will likely be gone someday soon anyway...something else will be put in place to replace it however and I hope it isn't just raising the middle income tax brackets or through sales taxes.

oh, that's where I'm a true hypocrite: fuck 'em, they pay cap gains on stock gains. but seriously, it is that money that people are investing (which by the way they MAY have already been taxed on once) that allows companies to expand and make money (which they are in turn taxed on); the money made in dividends thus has been taxed 2 or maybe 3 times already. Fair?


agreed; that's why I pay a CPA.



but what about a family business where every member of the family has contributed to the acquisition of wealth---shouldnt there parents be able to reward them when they pass this (likely already taxed) wealth on? (don't answer this, i already know the solution, its really just more an aesthetic question to mull over)



Yep. Solution=END CORPORATE WELFARE AND ALLOWING "MULTINATIONALS" THAT MAKE MONEY IN OUR COUNTRY BUT ARENT TAXED ACCORDINGLY.

i grew up poor so I don't have much sympathy for the wealthy even though I may become (or in some ways already am) wealthy myself.

yeah, my old man basically started out working in a gas station and didnt really become wealthy in any sense until he was in his 50's.

That shit makes you appreciate what you have and the opportunities afforded to you because of it.

But also makes (me at least) feel like while, I am totally down with paying my fair share, I just think that small businesses get the shaft disproportinately(sp?) with regards to things like taxation and jesus, god, insurance.

small business do get the shaft a lot of the time - we give big companies here huge tax breaks to move their operations here but nothing for small biz except endless red tape and regulations. they keep talking about trying to improve it but it seems pretty bad to me.

I'm pretty much of a filty commie myself, so I am distressed about rich fucks taking more and more of the pie and letting the proles fight over the scraps. Ignore it for long enough and eventually violence will ensue. It's just inevitable. And estate taxes are one of the few ways in this society we have attempted to keep an upper class of near royalty from developing as they simply pass down from one generation to the next enourmous wealth and power. If avoiding that doesn't sound like something you think has merit, I'd ask how come monarchies have all pretty much been overthrown or rendered politically irrelevant over time.

Concentrate all the power and wealth tightly enough and it is just a matter of time before people rebel. If the filty rich were just willing to throw out some bigger scraps, they could have it both ways...still have every material thing they could possibly want and not have to worry about people out to pull them down by any means necessary. But, just having everything doesn't seem like enough.

I was hoping that whole greed is good shit was in the past, but it sure as hell doesn't look like it.