What is it anything over $10M now?
Eagerly awaiting some dude from the trailer park vociferously arguing that it’s not fair to give all that hard earned money to the lazy (minorities).
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$23 million exemption per married couple.
Indexed to inflation. Wasn’t something else going to be indexed to inflation recently too?
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Mike Crapo is just such a perfect name for a republican politician
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Need an inheritance tax
If its good policy to tax wealth at death its probably better policy to just tax it every year.
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The basis step up at death is the one that pisses me off the most. Absolutely indefensible.
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We might need a dedicated abortion thread:
In 1999 Elizabeth Dole was running for president and came to the company I worked for in NH to do a stump speech. Everybody attended as there was an ice cream truck giving out free items too. The majority of Dole’s speech was about the estate tax, which maybe would have affected one person there.
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Definitely not. There’s a significant cost involved in assessing the tax owed. Definitely better to give them a real colonoscopy at death for all the marbles.
Fair enough. But these people seem to have no trouble coming up with a net worth figure for bragging rights, why not for tax purposes?
Also, the cost of taxing the wealth of very rich almost certainly pays for itself. What is the annual budget of the IRS? Like $12 billion dollars? US billionaires have $4 trillion in assets. A 1% annual wealth tax on just billionaires would yield 3x the annual budget of the entire IRS. I think the US could afford a few more auditors.
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can you elaborate? what is that?
If you buy a bunch of stonks, you pay capital gains when you sell based on the difference between the sale price and the purchase price (the basis). If you inherit a bunch of stonks, the cost basis magically becomes the price on the day you inherit them, rather than the price that was originally paid for them, or what you paid for them ($0). So, you can sell them the day you get them and pay zero tax on it.
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What the fuck?
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He who has the stonks makes the rules.
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So the Biden administration is not actually locking kids in cages. It’s neutralizing baby terrorist threats.
White kids born in this country could “easily be terrorists tomorrow”.
In fact, I’d say it’s more likely.
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How do we know Lindsey Graham isn’t a terrorist?
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Maybe Lincoln wasn’t such a great President. Shoulda destroyed the south in the war, brought all the freed slaves to the North and then been like “Actually, you crazy white people can stay down there and make your own country”
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