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LOL. OH NOES! People who have done nothing to earn it might have a tax on someone elses work being given to them. the horror.
I thought America was about YOU succeeding by your efforts? But not anymore. Now its about who gave you your money. Got it! The ol genetic lottery. Of course...its always been like that really for most people.
The HORROR that after the first million you might have to pay taxes. The horror.
Yet your party wants to take said taxes from citizens who did something right and built something for their family and give it to crackheads who never work and plop out baby after baby or give it to illegals who aren't even citizens.
So my cousins who have a family dairy farm in upstate NY, who my aunt and uncle slaved on it 365 a year, will be sold to a corporation ending even more family farms or sold to pay welfare to crackheads in NYC.
What does that leave? Mega wealthy corporations that buy out farms and houses, and homeless welfare queens and kings that take scraps from government, and in the middle is what was middle class that took it from both ends.
Yet your party wants to take said taxes from citizens who did something right and built something for their family and give it to crackheads who never work and plop out baby after baby or give it to illegals who aren't even citizens.
So my cousins who have a family dairy farm in upstate NY, who my aunt and uncle slaved on it 365 a year, will be sold to a corporation ending even more family farms or sold to pay welfare to crackheads in NYC.
What does that leave? Mega wealthy corporations that buy out farms and houses, and homeless welfare queens and kings that take scraps from government, and in the middle is what was middle class that took it from both ends.
Nope, farms and businesses would be exempt if the children continued operating them.
America is not America anymore. A place where you were free to be anything and to build wealth and pass on to your children is a time gone past. You are merely renting or borrowing anything you own asset wise or land wise until the government feels the need to take it from you. This is what they do in South American countries as well.
True freedom is gone and The only one to blame are the people who continually voted these clowns in the office over and over. They’ve sold us out and our unwillingness to do anything is about to come full circle.
I know. I feel the same. Why anyone voted for this and approves of this is beyond me. Why don't people like their freedom? I just don't get it.
For the 'a million dollar home isn't much these days' crowd, note that the median estimated value of a home (single family or condo) in the USA in 2020 was $268K. NAR says median single family value is $347k.
For the 'a million dollar home isn't much these days' crowd, note that the median estimated value of a home (single family or condo) in the USA in 2020 was $268K. NAR says median single family value is $347k.
That’s the national average. In many cities, an average home is easy $700,000, and a responsible person who worked hard for 40 years could have another $700,000 (easy) in savings. That’s $400,000 over. What should the government abscond with $160,000 to turn over to other people it deems more deserving that a person’s own children?
Im in the top quin-tile for income. So...sure? But why are yall afraid of the topic and so determined to talk about me instead today? Come back when you can debate the topic instead of a poster.
Im not sure what your point is there that somehow trying to discuss my relative wealth is at all...relevant? And that just because you posted it 4 hours ago I should ignore it?
Anyways back to the topic....so far its clear that folks are trying to gin up controversy of the TINY % of people this would affect. With fun things like claiming "well if you have 700K in property, its easy to have another 700K in retirement". Actually, no its not. But even if it were it appears the first 2.5 million in property is exempt, and thus, the first million of cash exemption would cover that. So the example given? Wouldnt be taxed.
Or people who think that if you make 40 cents over a million that all of it would be taxed.
That’s the national average. In many cities, an average home is easy $700,000, and a responsible person who worked hard for 40 years could have another $700,000 (easy) in savings. That’s $400,000 over. What should the government abscond with $160,000 to turn over to other people it deems more deserving that a person’s own children?
Thats' the thing the 2.5 million threshhold is for a married couple but if a single heir/child inherits that amount of property house, savings, stock etc 160K is not a number most have in their checking account. With stock for example if it's down market they would have to sell extra shares to meet the tax bill number..
But the whole thing parents who would rather or have to spend and leave money and property other than insurance policies is penalized.(When I search the subject ironically a bunch of infomercial type articles come from insurance companies).
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