Conversation

Notices

1. Embed this notice
   on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ (lain@lain.com)'s status on Monday, 09-Sep-2024 02:01:50 JST on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ
   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"
   • Haelwenn /элвэн/ :triskell: and narcolepsy and alcoholism :flag: like this.
   • Embed this notice
     pistolero (p@fsebugoutzone.org)'s status on Monday, 09-Sep-2024 02:03:35 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
     Haelwenn /элвэн/ :triskell:, on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ and ✙ dcc :pedomustdie: :phear_slackware: like this.
   • Embed this notice
     Zergling_man (zergling_man@sacred.harpy.faith)'s status on Monday, 09-Sep-2024 02:03:44 JST Zergling_man

     in reply to
     @lain Tell him about the store that buys and sells lifespan.
     on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ likes this.
   • Embed this notice
     pistolero (p@fsebugoutzone.org)'s status on Monday, 09-Sep-2024 02:11:49 JST pistolero

     in reply to

     • Paradox
     • 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.
     Haelwenn /элвэн/ :triskell:, on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ and ✙ dcc :pedomustdie: :phear_slackware: like this.
   • Embed this notice
     Paradox (paradox@raru.re)'s status on Monday, 09-Sep-2024 02:11:50 JST Paradox

     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

   • Embed this notice
     The Great Ape (Hollow Squad) (thegreatape@hollow.raccoon.quest)'s status on Monday, 09-Sep-2024 02:11:52 JST The Great Ape (Hollow Squad)

     in reply to

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

   • Embed this notice
     受不了包 (shibao@misskey.bubbletea.dev)'s status on Monday, 09-Sep-2024 02:24:39 JST 受不了包

     in reply to

     • Paradox
     • 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

     ✙ dcc :pedomustdie: :phear_slackware: likes this.
   • Embed this notice
     KK954 (kk954@nicecrew.digital)'s status on Monday, 09-Sep-2024 05:19:41 JST KK954

     in reply to

     • The Great Ape (Hollow Squad)
     I would assume he helped his kids along the way to be successful too. Yet the attitude again is it is somehow selfish for him to enjoy a little bit of what he has worked his whole life to earn.
     on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ likes this.
   • Embed this notice
     on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ (lain@lain.com)'s status on Monday, 09-Sep-2024 05:19:43 JST on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ

     in reply to

     • The Great Ape (Hollow Squad)
     @thegreatape the kids are seemingly doing very well though, so it's not completely detached, but still.
   • Embed this notice
     The Great Ape (Hollow Squad) (thegreatape@hollow.raccoon.quest)'s status on Monday, 09-Sep-2024 05:19:45 JST The Great Ape (Hollow Squad)

     in reply to

     @lain@lain.com I love my kids, but the only thing they'll inherit from me is my debt

   • Embed this notice
     on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ (lain@lain.com)'s status on Monday, 09-Sep-2024 05:19:46 JST on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ

     in reply to

     • The Great Ape (Hollow Squad)
     @thegreatape yeah, grandchild has just been born
   • Embed this notice
     0 (https://pl.absolutelyproprietary.org/users/0)'s status on Monday, 09-Sep-2024 16:51:22 JST 0

     in reply to

     • Paradox
     • pistolero
     • The Great Ape (Hollow Squad)
     @p @thegreatape @lain @Paradox
     ✙ dcc :pedomustdie: :phear_slackware: likes this.
   • Embed this notice
     0 (https://pl.absolutelyproprietary.org/users/0)'s status on Monday, 09-Sep-2024 16:51:23 JST 0

     in reply to

     • Paradox
     • pistolero
     • The Great Ape (Hollow Squad)
     @p @thegreatape @lain @Paradox
     
     Anything worth passing on is worth tax evasion; teach your kids to starve the machine early.
   • Embed this notice
     pistolero (p@fsebugoutzone.org)'s status on Monday, 09-Sep-2024 16:51:23 JST pistolero

     in reply to

     • Paradox
     • The Great Ape (Hollow Squad)
     • 0
     @0 @Paradox @lain @thegreatape Seconded.
     parasite.jpg
   • Embed this notice
     pistolero (p@fsebugoutzone.org)'s status on Tuesday, 10-Sep-2024 00:55:00 JST pistolero

     in reply to

     • Paradox
     • h4890
     • 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:
     ✙ dcc :pedomustdie: :phear_slackware: likes this.
   • Embed this notice
     h4890 (h4890@liberdon.com)'s status on Tuesday, 10-Sep-2024 00:55:01 JST h4890

     in reply to

     • Paradox
     • 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.

   • Embed this notice
     Paradox (paradox@raru.re)'s status on Tuesday, 10-Sep-2024 00:55:16 JST Paradox

     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.

     ✙ dcc :pedomustdie: :phear_slackware: likes this.
   • Embed this notice
     pistolero (p@fsebugoutzone.org)'s status on Tuesday, 10-Sep-2024 00:55:17 JST pistolero

     in reply to

     • Paradox
     @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
     ✙ dcc :pedomustdie: :phear_slackware: likes this.
   • Embed this notice
     pistolero (p@fsebugoutzone.org)'s status on Tuesday, 10-Sep-2024 00:55:18 JST pistolero

     in reply to

     • Paradox
     • 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.
   • Embed this notice
     Paradox (paradox@raru.re)'s status on Tuesday, 10-Sep-2024 00:55:18 JST Paradox

     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.

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

     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.