http://www.msn.com/en-us/...id=UE07DHP This drives me crazy!!!

i guess that is so he can pay for crooked hillarys wars ... taxes smh ..

Who cares? It's still $125 million and more than any member of his family will ever be able to spend. It's not like they did anything to earn it.

suomynona said:

TrevorAyer said:

i guess that is so he can pay for crooked hillarys wars ... taxes smh ..

Well, sorry to say but Hillary isn't going to be the next POTUS. That will be Drumpf, thanks to this country's fascination with reality TV. And we will all be lucky to survive his nightmare of a presidency. My only hope is that something is released from the vault before he destroys the planet via nuclear holocaust.

BillieBalloon said:

suomynona said:

Who cares? It's still $125 million and more than any member of his family will ever be able to spend. It's not like they did anything to earn it.

Yes the family should benefit but it's a shame the people who did work hard to earn it (band members etc) wont see a penny of it.

If they were credited, they've been paid throughout the years. And they'll continue to be paid. His dying has nothing to do with them being paid. At all.

BillieBalloon said:

suomynona said:

Who cares? It's still $125 million and more than any member of his family will ever be able to spend. It's not like they did anything to earn it.

Yes the family should benefit but it's a shame the people who did work hard to earn it (band members etc) wont see a penny of it.

The real shame is if Prince didn't set up a will.

It's potentially good news for the fans. the vault's contents get sold to pay the taxes. there really won't be a choice for the heirs.

He should have had a trust.

Taxes, outstanding bills, employees final pay cheque, internet watch dogs, Fees for administering the estate, etc.

After all is said and done.............. what's left over after everyone has been paid.

injuredpinky said:

BillieBalloon said:

suomynona said: Yes the family should benefit but it's a shame the people who did work hard to earn it (band members etc) wont see a penny of it.

The real shame is if Prince didn't set up a will.

I agree. I would rather his estate had gone to charities that he chose, rather than to family members that had nothing to do with the music (short of "Sister").

But whatever. Doesn't matter. It is what it is, and giving energy to being upset about it is pointless. About as pointless as my ranting about what a piece of shit "Jughead" is and how could he have wasted space on a record with it?

TrevorAyer said:

Got to give it up to prince because many musicians die broke or have to go backwards to go forwards when sales go through the roof.Even through everything that he went through and didn't sell out commercially and still was worth a quarter of a bill.(Not incl his prize possessions)

No sure I understand why people get all worked up about this. Do we think that the siblings should be able to gain all this wealth tax-free, while we all work hard and pay up our share all our lives and make only a fraction of this over a lifetime?

Genesia you're 100% correct.....

injuredpinky said:

BillieBalloon said:

suomynona said: Yes the family should benefit but it's a shame the people who did work hard to earn it (band members etc) wont see a penny of it.

The real shame is if Prince didn't set up a will.

It wouldn't have helped. Having a will does not protect large estates (like Prince's) from the tax man. You need a trust for that.

emesem said:

No sure I understand why people get all worked up about this. Do we think that the siblings should be able to gain all this wealth tax-free, while we all work hard and pay up our share all our lives and make only a fraction of this over a lifetime?

Yes. Yes, we do. Because Prince paid taxes on that money when he earned it. I repeat: the taxes were already paid.

Prince worked incredibly hard his whole life and earned that money. It was his - not the government's.

Yep. It's practically theft what the Government charges in Death Taxes. They take too much while you are alive and then wipe you out when you die.

CROWNS1 said:

Yep. It's practically theft what the Government charges in Death Taxes. They take too much while you are alive and then wipe you out when you die.

Yep, any taxes owing, if any, have to be paid by your estate

destinyc1 said:

Got to give it up to prince because many musicians die broke or have to go backwards to go forwards when sales go through the roof.Even through everything that he went through and didn't sell out commercially and still was worth a quarter of a bill.(Not incl his prize possessions)

Very true. Which is why I'm still just tempted to just figuratively just sit here on my stoop and watch, maybe something is up with why he did (or didn't) what he did.

Sure Prince paid taxes. And the company I work for also paid its taxes but when you transfer that money to someone else, that person has to pay taxes.

Unless you are married, each individual is subject to tax. We dont tax by family only.

Genesia said:

emesem said:

No sure I understand why people get all worked up about this. Do we think that the siblings should be able to gain all this wealth tax-free, while we all work hard and pay up our share all our lives and make only a fraction of this over a lifetime?

Yes. Yes, we do. Because Prince paid taxes on that money when he earned it. I repeat: the taxes were already paid.

Prince worked incredibly hard his whole life and earned that money. It was his - not the government's.

Genesia said:

emesem said:

No sure I understand why people get all worked up about this. Do we think that the siblings should be able to gain all this wealth tax-free, while we all work hard and pay up our share all our lives and make only a fraction of this over a lifetime?

Yes. Yes, we do. Because Prince paid taxes on that money when he earned it. I repeat: the taxes were already paid.

Prince worked incredibly hard his whole life and earned that money. It was his - not the government's.

.

Also, it's not just the 2,000 vault songs... they are talking about selling Paisley Park itself, including its' non-cash assets. This means tearing down the studios, selling the instruments, etc.

.

Totally wrong... Prince's will would have Paisley Park turned into an audio engineering school. If it goes to the highest bidder, then Jay-Z and Beyonce will buy it. U cool with that?

I believe the first $5 million is tax free. God bless if this is actual problem for you.

CROWNS1 said:

Yep. It's practically theft what the Government charges in Death Taxes. They take too much while you are alive and then wipe you out when you die.

So reading between the lines, he must not have had an abundance of cash and I'm thinking that is why he was doing a tour even though he was ill. The government will put a cash value on unreleased music and some are saying it may go as high as 500 mil. Add to that the value of his properties and the death tax could be enough to force the sale of alot of it. I'm thinking a corp will come in and make an offer.

100% Princes fault. He could have had an insurance policy that would have covered the taxes or made sure he had enough in cash on hand. I'm sure there are other types of planning that would have helped this.

Giovanni777 said:

Genesia said:

Yes. Yes, we do. Because Prince paid taxes on that money when he earned it. I repeat: the taxes were already paid.

Prince worked incredibly hard his whole life and earned that money. It was his - not the government's.

.

Also, it's not just the 2,000 vault songs... they are talking about selling Paisley Park itself, including its' non-cash assets. This means tearing down the studios, selling the instruments, etc.

.

Totally wrong... Prince's will would have Paisley Park turned into an audio engineering school. If it goes to the highest bidder, then Jay-Z and Beyonce will buy it. U cool with that?

emesem said:

100% Princes fault. He could have had an insurance policy that would have covered the taxes or made sure he had enough in cash on hand. I'm sure there are other types of planning that would have helped this.

Giovanni777 said:

.

Also, it's not just the 2,000 vault songs... they are talking about selling Paisley Park itself, including its' non-cash assets. This means tearing down the studios, selling the instruments, etc.

.

Totally wrong... Prince's will would have Paisley Park turned into an audio engineering school. If it goes to the highest bidder, then Jay-Z and Beyonce will buy it. U cool with that?

There are. He could have had a trust, for example. But you think the government should get it. And so it will.