General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSamKnause
(13,106 posts)InAbLuEsTaTe
(24,122 posts)wiggs
(7,814 posts)hundreds of billions transferred to heirs.
Right now, if your estate as a couple is worth more than 10,000,000, you're heirs would pay 40% on anything gifted or left to them above 10 million. There are huge estates in every big city out there, managed at great expense to somehow maximize the size of the estate but also managed to avoid as much estate tax as feasible.
In the world of the .1%, 10 million is not a big estate. There are wealth management firms that don't even talk to you if you have less than 10 million to manage.
Rather than risk a future where the estate tax comes back, the days and weeks after the repeal will see unbelievable transfers of wealth. Wish I could be a part of that, but even if I was I would recognize the reason and history of the estate tax is valid and that we all contribute to the overall economic health of the country.
But...watch what happens when on one day there's a 40% tax on wealth given away, and the next there's nothing.
questionseverything
(9,654 posts)personally I hope a couple of the deep pockets drop dead before it is signed into law
Irish_Dem
(47,094 posts)sadiegirl
(138 posts)May Karma strike them all.
NCTraveler
(30,481 posts)I was a bit more optimistic last week.
Adenoid_Hynkel
(14,093 posts)For refusing to concede a primary he'd list an poitlessly beating up the only person who stood between the US and a Trumpian nightmare
NCTraveler
(30,481 posts)SamKnause
(13,106 posts)They are waiting for McConnell right now.
NCTraveler
(30,481 posts)This stinks.
SamKnause
(13,106 posts)I hate them with a white hot passion.