Author Topic: Tax experts slam Biden's mess of a 'double death' tax that will make bereaved families pay TWICE, wi  (Read 868 times)

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Online mystery-ak

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Tax experts slam Biden's mess of a 'double death' tax that will make bereaved families pay TWICE, wipe out value of inherited properties and 'crush' small businesses and farms - but it won't impact his Delaware homes

    President Biden plans to fund ambitious spending programs with hike in estate taxes targeted at rich
    Tax experts warned that the middle class will be badly affected by changes
    It could mean family assets, such as homes, businesses and farms, have to be sold to meet capital gains bills
    Republicans have asked for assurances that family farms will be protected

By Rob Crilly, Senior U.S. Political Reporter For Dailymail.Com

Published: 16:28 EDT, 17 June 2021 | Updated: 16:28 EDT, 17 June 2021

The Biden administration's plan to hike the inheritance tax bill for wealthy Americans will snare the middle class, farmers and family businesses in a double taxation dragnet to finance its massive spending plans, according to tax experts.

President Joe Biden’s vast expansion of social spending programs will be funded in part by ending 'step-up in basis,' a provision which protects estates from capital gains tax at death.

Biden says the aim is to close a loophole that allows rich families to pass wealth from generation to generation.

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https://www.dailymail.co.uk/news/article-9697587/Tax-experts-slam-Bidens-mess-double-death-tax-make-bereaved-families-pay-TWICE.html
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Offline christian

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The continuation of soviet style, crush the working class, that Obama implemented while he was in office,now continues with Biden.  More of what happens when people listened to NeverTrumpers, that nothing could be as bad as Trump in office.  I think even the dumb ones have finally figured out what a like that was.  Damned expensive lesson, being willfully stupid for the America hating left and their accomplices.  Bidens teaching by the school of hard knocks.  Beatings replacing using the brain, socialists style.
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Online jmyrlefuller

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1. You don't have a right to your parents' belongings just because they die.

2. The dead are dead and have no use for their belongings.

Acknowledging those two things would go a VERY long way in eliminating the Lucky Sperm Clubs of this country. Then we can talk about the trusts and foundations that allow the rich to hoard their wealth long after they die.
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Online GtHawk

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1. You don't have a right to your parents' belongings just because they die.

2. The dead are dead and have no use for their belongings.

Acknowledging those two things would go a VERY long way in eliminating the Lucky Sperm Clubs of this country. Then we can talk about the trusts and foundations that allow the rich to hoard their wealth long after they die.
I'll just start pulling my mom's money from the banks at amounts just under the federal trigger and stuff the mattress, let em prove she didn't gamble or give it away. Her share of Golden Rain foundation, she doesn't own the unit she lives in just 1 share of seizure world and since I am listed as co owner it's not really inherited. Even poor people can play the game.

Offline PeteS in CA

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Inheritance taxes should be repealed, entirely. And capital gains taxes not charged until an asset is actually sold.
If, as anti-Covid-vaxxers claim, https://www.poynter.org/fact-checking/2021/robert-f-kennedy-jr-said-the-covid-19-vaccine-is-the-deadliest-vaccine-ever-made-thats-not-true/ , https://gospelnewsnetwork.org/2021/11/23/covid-shots-are-the-deadliest-vaccines-in-medical-history/ , The Vaccine is deadly, where in the US have Pfizer and Moderna hidden the millions of bodies of those who died of "vaccine injury"? Is reality a Big Pharma Shill?

Millions now living should have died. Anti-Covid-Vaxxer ghouls hardest hit.