$202,000 Jeter Card

[Dpeck100]

Originally Posted by Bored5000

That was the exact same thing that was said on here when the Michael Jordan PMG card sold for crazy money a year or two ago. Then it was revealed that the buyer was Nat Turner.

We don't know who the buyer of the Jeter card is; maybe it is Nat Turner or maybe it is someone else. But I don't understand at all how you can say the buyer will absolutely have buyer's remorse over dropping a couple hundred grand when there are people at the top levels of the hobby with a net worth measured in eight or nine figures.

Exactly.

Just a few weeks ago Justin Bieber posted some of his Pokemon PSA graded cards. I just looked it up and it is estimated his net worth is 265 million. If someone in this position wants a card they can pay whatever they want.

The other thing that people forget is that the government is going to take half. Enjoy the funds while you can because you could lose half on every purchase and your heirs will be in the same place.

[ValKehl]

Originally Posted by Dpeck100

...
The other thing that people forget is that the government is going to take half. Enjoy the funds while you can because you could lose half on every purchase and your heirs will be in the same place.

HALF? David, how do you figure HALF?

[Dpeck100]

Originally Posted by ValKehl

HALF? David, how do you figure HALF?

I stand corrected. With the Trump tax cuts they lowered the top rate to 40%.

It should have been clear I was referencing someone like Bieber and with his net worth as a single guy the first 11.4 million would be sheltered and all other assets taxed at 40% on death.

[ValKehl]

Originally Posted by Dpeck100

I stand corrected. With the Trump tax cuts they lowered the top rate to 40%.

It should have been clear I was referencing someone like Bieber and with his net worth as a single guy the first 11.4 million would be sheltered and all other assets taxed at 40% on death.

David, it is my understanding that the current, top federal income tax rate is 37% - for an individual taxpayer, this rate applies to taxable income in excess of $510,300: https://www.quickenloans.com/blog/fe...e-tax-brackets So, even with the addition of a state income tax (for those states that have income taxes), very few, if any, folks are going to pay 50%.

[Dpeck100]

Originally Posted by ValKehl

David, it is my understanding that the current, top federal income tax rate is 37% - for an individual taxpayer, this rate applies to taxable income in excess of $510,300: https://www.quickenloans.com/blog/fe...e-tax-brackets So, even with the addition of a state income tax (for those states that have income taxes), very few, if any, folks are going to pay 50%.

Estate tax. I used the word heirs.

Not income tax.

In terms of income tax a guy like Bieber would pay 50% if he lives in CA, NY or any high state income tax state.

[ValKehl]

David, thanks for the clarification.

[Dpeck100]

Originally Posted by ValKehl

David, thanks for the clarification.

Sure thing.

The top estate tax bracket used to be in the 55% range and then with the exemption you would net about 50%. Obviously many have used fancy estate planning techniques and altered this some but the point is the same. If you are mega rich a huge chunk is being confiscated when you die. If Bieber died tomorrow his estate would owe 101.44 million using the 265 estimate. Might as well blow some of the dough on whatever you want. On items like this the higher the price goes the more exciting it becomes so it is a win win. If it goes up in value great. If it goes down no big deal.

[Marckus99]

Garbage card for a garbage player.

Wonder how he would have done in San Diego or Kansas City...

- M.

[rjackson44]

i wonder if this was actually paid for ..doubt it

[Jdoggs]

Originally Posted by Dpeck100

I stand corrected. With the Trump tax cuts they lowered the top rate to 40%.

It should have been clear I was referencing someone like Bieber and with his net worth as a single guy the first 11.4 million would be sheltered and all other assets taxed at 40% on death.

Bieber is married to Hailey Baldwin. How would this affect his estate tax?

[Dpeck100]

Originally Posted by Jdoggs

Bieber is married to Hailey Baldwin. How would this affect his estate tax?

Just double the exemption