Well…I’ve still got a ways to go before I qualify. Since I would be dead, I wouldn’t care how much they taxed it. And I kind of like to believe that my kid would be willing to let them take 90% if it could bring me back.
The only people for the death tax are those that know their heir’s won’t have to pay it.
OH…that’s true. And poor folk like us would also have kids who would rather have us back in their lives than money. I can’t say the same for someone who bitches about having to pay a death tax…Daddy dies and instead of “I wish I could bring him back” it’s “these fucking death taxes suck”
Everyone I know would rather have their loved one back than all the money in the world. Do you think a death tax would bring a loved one back?
Lol… it’s easy to say what you’d do when you know you definitely won’t have to do it.
I do and, if we had children, I would feel even more strongly about it. We do not like how the feds spend and devalue the money we already pay them. That’s why whatever is left after we’re gone, and there will be some, is going to charities that we think do a much better job of utilizing their resources than the federal or state government.
That isn’t one of the options.
I can start a crparrothead goes to Key West charity!!
IMO Key West is like Vegas, one day isn’t enough and 3 is too many.
If you can get the IRS to set that up as a 501c3, you could be on the list.
True, it isn’t. But I kind of like to think I’m worth more than the sum of my assets. And I think she kind of likes me. I know my grandson does.
You are, but your assets should belong to your descendants, not the government.
Exactly. People should be able to leave their assets to anyone they want, if someone would rather give everything to the government instead of their kids and grandkids they are free to do so. It should be their choice.
Which would be any charity.
And the will since I"m poor
According to this website it only applies to Estates over 12.9 million. I’m not worried.
The current tax law sunsets in 2025. Income tax and estate tax rules revert to what they were in 2017. I think the state tax exemption will be cut in half.
Now, to be clear,I am pretty sure this doesn’t effect anyone on this board.
But, it goes to a larger problem, the morality of what can be taxed.
Similarly, the alleged “experts” keep talking about raising the cap what can be taxed for SS, but no one seems to want to answer the question of if the benefits will rise also, or just the tax cap.
That is never addressed. I suspect it is because there would be no plans to do so. The current max monthly payment is about $3,600 at full retirement age and about $4,600 at age 70. I don’t know if that reflects someone being at the max for the period of measurement or if there are already artificial constraints on the amounts. I could the fed raising those numbers a little, but a lot less reflective than the amounts paid in.
Nor do they put forth a reliable estimate of whether or not that will financially fix the problem. All estimates I’ve seen don’t seem to account for the fact that a large share of taxable income of the highest income people is not earnings that would be subject to S/S tax, but stock options, stock grants and other benefits not currently considered ‘earned income.’ I suspect that if the S/S cap is raised substantially or eliminated, then that share will become even larger. Would those then be taxed anyway?