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1. LS (lain@lain.com)'s status on Monday, 09-Sep-2024 02:48:20 JST LS
   talked again with a person who is so stereotypically boomer that it's hard to believe. hates drumpft and 'tony robins i guess his name is' but also hates 'foreigners who don't respect our country' and anyone who has more money than them. best quote: "I wish i'd know how long i have to live so I can spend all my money until then"
   • pistolero (p@fsebugoutzone.org)'s status on Monday, 09-Sep-2024 02:48:19 JST pistolero

     in reply to
     @lain where do they have people like that
     
     are there more of them
     
     are you near the factory
     tonyrobinson.png
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   • pistolero (p@fsebugoutzone.org)'s status on Monday, 09-Sep-2024 16:51:07 JST pistolero

     in reply to

     • Willow
     • The Great Ape (Hollow Squad)
     @Paradox @thegreatape @lain
     
     > 2. Leave expensive stuff in will to kids
     
     They tax that. It's expensive to die.
     
     There was an artist that died somewhat recently, and one of his paintings incorporated bald eagle feathers; his kids inherited his work, and although it is illegal to sell the painting due to the bald eagle feathers, the IRS claimed that the impossibility of selling something doesn't affect its value, and the kids owed taxes on what it would sell for if it were legal to sell.
     
     What you do is set up a trust and then have it cover its own taxes.
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   • Willow (paradox@raru.re)'s status on Monday, 09-Sep-2024 16:51:09 JST Willow

     in reply to

     • The Great Ape (Hollow Squad)

     @thegreatape @lain
     1. Spend all your money on expensive stuff
     2. Leave expensive stuff in will to kids
     3. Maybe some kinda finances and tax code loophole???
     4. Profit

   • The Great Ape (Hollow Squad) (thegreatape@hollow.raccoon.quest)'s status on Monday, 09-Sep-2024 16:51:11 JST The Great Ape (Hollow Squad)

     in reply to

     @lain@lain.com that ending quote is insane, I wonder if they have kids

   • 受不了包 (shibao@misskey.bubbletea.dev)'s status on Monday, 09-Sep-2024 16:51:33 JST 受不了包

     in reply to

     • Willow
     • pistolero
     • The Great Ape (Hollow Squad)

     @p@fsebugoutzone.org @Paradox@raru.re @thegreatape@hollow.raccoon.quest @lain@lain.com it's crazy that even common people will have to understand living revocable trust and operational or holding llcs just to be able to pass down any sort of non-insignificant wealth like a house to kids

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   • pistolero (p@fsebugoutzone.org)'s status on Tuesday, 10-Sep-2024 00:54:55 JST pistolero

     in reply to

     • h4890
     • Willow
     • The Great Ape (Hollow Squad)
     @h4890 @thegreatape @lain @Paradox You'd have to move your assets.
     
     :ancapshades: I'm going to evade this tax by moving all of my money into 10grans. :10granscat:
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   • h4890 (h4890@liberdon.com)'s status on Tuesday, 10-Sep-2024 00:54:56 JST h4890

     in reply to

     • Willow
     • pistolero
     • The Great Ape (Hollow Squad)

     @p @thegreatape @lain @Paradox

     Strangely enough, there is no inheritance tax in sweden.

     So you could always go to sweden to die.

   • Willow (paradox@raru.re)'s status on Tuesday, 10-Sep-2024 00:55:15 JST Willow

     in reply to

     • pistolero

     @p
     > they sell this as a tax on the wealthy, but it never touches them
     Literally describes every tax ever. Most taxes tax you more the more you do them, and the people that have more money tend to use that money more. The only exceptions are things that poor people tend to do more because they're poor, which are bad for different reasons.

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   • pistolero (p@fsebugoutzone.org)'s status on Tuesday, 10-Sep-2024 00:55:16 JST pistolero

     in reply to

     • Willow
     @Paradox
     
     > I'm pro tax in general
     
     :ancapchanlol: I, too, think that rent-seeking is different when the government does it, especially if a guy pays taxes his whole life and then they tax his corpse.
     
     > Kinda sounds like an estate? But I know estates are taxed. Maybe trusts aren't.
     
     They are, but it doesn't cost as much as the Death Tax. 25%. They sell this tax as a tax on massive inheritances for the wealthy, but this kind of thing never touches the wealthy, it only affects regular people.
     04._immortal_technique--rich_man_s_world_1_prod._shuko.flac
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   • pistolero (p@fsebugoutzone.org)'s status on Tuesday, 10-Sep-2024 00:55:17 JST pistolero

     in reply to

     • Willow
     • The Great Ape (Hollow Squad)
     @Paradox @thegreatape @lain
     
     > ...can you relinquish ownership of something without selling it?
     
     I don't think you can actually decline something without the taxable event where the ownership is transferred. I don't know. (I cannot die, nor can I ever be killed; this is purely academic for me.)
     
     > Also I have heard of trusts and vaguely know they're useful, but I've never read up on how they work.
     
     Basically you give it your house or whatever assets, and it owns them. Then you don't pass on the ownership, you just give your kids control of the trust, so effectively they own whatever it is but legally not. The trust can make money and pay out dividends, so if you make enough, you can have trust fund kids.
   • Willow (paradox@raru.re)'s status on Tuesday, 10-Sep-2024 00:55:17 JST Willow

     in reply to

     • pistolero

     @p
     I'm pro tax in general but damn that's a lot. Tax if you have it, tax if you give it away.
     Kinda sounds like an estate? But I know estates are taxed. Maybe trusts aren't.

   • Willow (paradox@raru.re)'s status on Tuesday, 10-Sep-2024 00:55:19 JST Willow

     in reply to

     • pistolero
     • The Great Ape (Hollow Squad)

     @p @thegreatape @lain
     ...can you relinquish ownership of something without selling it?
     Like it's dumb that they're taxed annually on what is essentially an inheritance item of emotional value (I forget the specific term), but they gotta at least have a way of giving it up so they don't have to pay taxes on it.
     Also I have heard of trusts and vaguely know they're useful, but I've never read up on how they work.