Samsung group chairman Lee Kun-hee has died

Post by athms » Sun, Oct 25, 2020, 2:34 PM UTC

adventured wrote: post #50

JoshTko wrote: post #20

Earlier quoted context omitted.

50% Inheritance tax would do wonders in the US. Honestly if you want the best people at the top then no one should start with a billion dollar advantage.

> 50% Inheritance tax would do wonders in the US. The US is already at 40%. The Feds want 40% of anything over $11.58 million when you die. Going to 50% isn't going to do wonders. If you wanted to severely adjust the wealth inequality caused by the extreme wealth of the top 0.01%, you'd want a 80% or 90% rate. Increasingly the US Senate is rich enough it'd never be allowed to become law.

Post by closeparen » Sun, Oct 25, 2020, 4:38 PM UTC

H8crilA wrote: post #14

maest wrote: post #13

Earlier quoted context omitted.

I'd expect them to be able to finance paying the taxes with an equity collateralised loan. If not the entire tax bill, at least a big chunk of it.

Seems that more leverage and more debt is in fact the answer to everything. BRB, need to take a second mortgage to buy more equity index funds. I will then use the fund shares as a collateral for another loan, and you get the idea. I wonder why hasn't anyone thought of it yet! Time for a YC application!

Post by smabie » Sun, Oct 25, 2020, 7:57 PM UTC

H8crilA wrote: post #59

rgbrenner wrote: post #44

Earlier quoted context omitted.

Yeah I doubt a bond would pay that well.. but he does have a point about risk exposure. Your mortgage could be thought of as an investment in the local real estate market.. diversifying that risk by buying shares in a REIT could be a good strategy... especially if you're in a low-growth area (ie outside of the big cities, midwest, etc).

Hey, here's a shockingly simple idea: don't buy a home if you don't want equity, rent instead.

Post by sokoloff » Mon, Oct 26, 2020, 1:57 PM UTC

athms wrote: post #61

adventured wrote: post #50

Earlier quoted context omitted.

> 50% Inheritance tax would do wonders in the US. The US is already at 40%. The Feds want 40% of anything over $11.58 million when you die. Going to 50% isn't going to do wonders. If you wanted to severely adjust the wealth inequality caused by the extreme wealth of the top 0.01%, you'd want a 80% or 90% rate. Increasingly the US Senate is rich enough it'd never be allowed to become law.

Only 0.002% of estates pay the tax every year. Among the wealthy that are close to retirement or death, the smart ones transfer their wealth to insurance or separate entities like a foundation, limited liability company, family limited partnership, or charitable trust.