bendog
Diamond Member
1. The first million dollars of the estate IS NOT TAXED
2. If you're married and your wife is a US citizen, she pays NO TAX... NONE,
now tell everyone how much this effects you on a personal level ..
My parents left me an inheritance of three parcels of land that was worth more than the inheritance minimum taxation rate nowadays. Fortunately I got the inheritance before the new laws came in effect.
If I leave the parcels of land to my children and grand children they will be taxed on it and the filthy ass welfare queens will get the money that my parents worked so hard to accumulate and that I have made improvements on.
The government and the welfare queens did absolutely nothing to earn the money and it should be distributed as the family decides, not to be given away by some filthy ass Libtard politician so he can get more votes from the greedy bastards that want the money.
So yes, the laws do affect some of us on a personal level.
The exclusion amount has been increasing. It was 675,000 in 2001 and now it is 5.43 million.
Flash's post does not pass the rational test. The only way his beneficiaries would owe tax, if he did not when he inherited, is if the land appreciated exponentially faster than the exclusion.
No one with the possible exceptions of Bernie Sanders and some of the black caucus have any interest in adversely affecting a functioning economic enterprise, nor of depriving some family of the wealth their father or mother created. As I tried to say, before M-14 went off like a 88 mm gun with a blocked breach, that actual amount of revenue raised is really insignificant compared to tax revenue as a whole. Rather, the tax is set up to "encourage" the extremely wealthy, like Bill Gates, to leave the msft stock (or JJ stock) to a foundation, so that ownership of corporations is not permanently ensconced in corrupt and incompetent inbred fools, as we see in countries run by Sharia law.
It's a wedge issue for the gop. I assume 20 or so megawealthy donors want this, and a return to when JD Rockefeller was writing to John "Son, today I give you 10000000 shares of standard oil." That worked fine for standard while John was at the helm, and perhaps Nelson's generation could have made it work, but their kids .... bankruptcy