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REVEALED: Biden's 'middle-class death tax' that means widows' families could get far less of their estate - and break his promise not to hike rate on

The Purge

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Did you see this coming?...I did!!!

Biden has promised not to raise taxes on anyone earning less than $400,000 but plans to end an inheritance loophole could do just that, according to a new analysis that suggests a widow with nothing to pass on to her children but her home could be badly hit by proposals that would leave the Bidens' personal fortune untouched.

Tucked away in Biden's American Families Plan is a revision to the way capital gains taxes are paid on estates when people die.

Critics have dubbed it a 'middle-class death tax' and say it will mean thousands of people having to sell assets to meet tax bills they would not get under existing law.

(Excerpt) Read more at dailymail.co.uk ..

tns4rqp.jpg
 

Floyd61

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Democrats want to destroy America so much, so that even a guy like Trump can't make America great again
 

xband

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Did you see this coming?...I did!!!

Biden has promised not to raise taxes on anyone earning less than $400,000 but plans to end an inheritance loophole could do just that, according to a new analysis that suggests a widow with nothing to pass on to her children but her home could be badly hit by proposals that would leave the Bidens' personal fortune untouched.

Tucked away in Biden's American Families Plan is a revision to the way capital gains taxes are paid on estates when people die.

Critics have dubbed it a 'middle-class death tax' and say it will mean thousands of people having to sell assets to meet tax bills they would not get under existing law.

(Excerpt) Read more at dailymail.co.uk ..

tns4rqp.jpg
Make wills illegal, problem solved.
 
OP
T

The Purge

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Did you see this coming?...I did!!!

Biden has promised not to raise taxes on anyone earning less than $400,000 but plans to end an inheritance loophole could do just that, according to a new analysis that suggests a widow with nothing to pass on to her children but her home could be badly hit by proposals that would leave the Bidens' personal fortune untouched.

Tucked away in Biden's American Families Plan is a revision to the way capital gains taxes are paid on estates when people die.

Critics have dubbed it a 'middle-class death tax' and say it will mean thousands of people having to sell assets to meet tax bills they would not get under existing law.

(Excerpt) Read more at dailymail.co.uk ..

tns4rqp.jpg
Make wills illegal, problem solved.
Even better stop paying taxes, let them take what you have, lock you up and get taken care of for the rest of your life at a FEDERAL prison!
 

Angelo

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Democrats want to destroy America so much, so that even a guy like Trump can't make America great again
I'm not arguing for or against here, but we have missed a balance of wealth in the last 40 years that has us more unequal than ever. For example, right now in the US, there are 18,000,000 millionaires ( not counting billionaires), which is wonderful....except at the same time we also have over 36,000,000 individuals living in poverty. A new home costs twice what it did just 20 years ago, while average income is the same. (which can only mean one thing - the rich are getting richer much faster than ever, likewise the poor getting poorer)
 

Eric Arthur Blair

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Joe lies frequently, easily and without regard for the truth.
In Brussels Joe lied about the republicans rapidly losing their base as a result of Trump.
That's a lie! Republican voter roles are remarkably stable...see my thread on the matter.

I'm not surprised he is raising taxes through the death tax, which violates his pledge and will cost many people their homes and possessions, not that Joe "the Big Guy" Biden gives a fuck.
 

bendog

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His proposal does not hike taxes on 400K earners. I realize you don't like his tax proposals. I have some issues, myself. But there's no Lie, except for the OP
 

Angelo

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Joe lies frequently, easily and without regard for the truth.
In Brussels Joe lied about the republicans rapidly losing their base as a result of Trump.
That's a lie! Republican voter roles are remarkably stable...see my thread on the matter.

I'm not surprised he is raising taxes through the death tax which will cost many people their homes
and possessions, not that Joe "the Big Guy" Biden gives a fuck.
Biden's base is clueless CNN-watching sheep. All he has to do is call his opponent a liar, the media backs him up and he gets away with it.
 

Damaged Eagle

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1623953499020.png


It's not the wealth a person has that's the problem it's the greed.

A person can have wealth and not be greedy while on the other had a person can be greedy and amass a lot of wealth.

Unfortunately we now have more of the latter than the former from that last line.

*****SMILE****


:)
 

InspectorDetector

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Did you see this coming?...I did!!!

Biden has promised not to raise taxes on anyone earning less than $400,000 but plans to end an inheritance loophole could do just that, according to a new analysis that suggests a widow with nothing to pass on to her children but her home could be badly hit by proposals that would leave the Bidens' personal fortune untouched.

Tucked away in Biden's American Families Plan is a revision to the way capital gains taxes are paid on estates when people die.

Critics have dubbed it a 'middle-class death tax' and say it will mean thousands of people having to sell assets to meet tax bills they would not get under existing law.

(Excerpt) Read more at dailymail.co.uk ..

tns4rqp.jpg


So, my 1 million dollar insurance policy for my family would be taxed? Fuckin fascist democrats.
 

TroglocratsRdumb

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Left Wing economics is based on stealing.
It does not lift the poor.
It does not punish the rich.
It enslaves the middle class to government spending.
Troglocrats are dumb.
 

Osiris-ODS

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Democrat politicians SALIVATE thinking about the money they can squeeze out of the middle class through capital gains taxes, almost as much as they love the idea of imposing a "wealth" tax.

Democrat voters fall into various categories, including (1) those who are too stupid to understand how capital gains taxes hurt them and their children, (2) those who don't own anything and thus don't give a shit, and (3) those who are so rich they support more radical capital gains taxes because it would allow them to acquire valuable assets from those who can't afford the taxes, would deter potential investors, and because they're financially able to exploit ways to shield/limit their own exposure to the taxes.
 

OnePercenter

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Did you see this coming?...I did!!!

Biden has promised not to raise taxes on anyone earning less than $400,000 but plans to end an inheritance loophole could do just that, according to a new analysis that suggests a widow with nothing to pass on to her children but her home could be badly hit by proposals that would leave the Bidens' personal fortune untouched.

Tucked away in Biden's American Families Plan is a revision to the way capital gains taxes are paid on estates when people die.

Critics have dubbed it a 'middle-class death tax' and say it will mean thousands of people having to sell assets to meet tax bills they would not get under existing law.

(Excerpt) Read more at dailymail.co.uk ..

tns4rqp.jpg


So, my 1 million dollar insurance policy for my family would be taxed? Fuckin fascist democrats.
No. Insurance settlements aren't income.
 

BluesLegend

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I TOLD YOU there's nothing Dems don't want to tax including the dead. Even though taxes were already paid on that wealth. Dems what a bunch of mooching deadbeat pick pockets.
 

bendog

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Did you see this coming?...I did!!!

Biden has promised not to raise taxes on anyone earning less than $400,000 but plans to end an inheritance loophole could do just that, according to a new analysis that suggests a widow with nothing to pass on to her children but her home could be badly hit by proposals that would leave the Bidens' personal fortune untouched.

Tucked away in Biden's American Families Plan is a revision to the way capital gains taxes are paid on estates when people die.

Critics have dubbed it a 'middle-class death tax' and say it will mean thousands of people having to sell assets to meet tax bills they would not get under existing law.

(Excerpt) Read more at dailymail.co.uk ..

tns4rqp.jpg


So, my 1 million dollar insurance policy for my family would be taxed? Fuckin fascist democrats.
no.

And Biden's proposal would "only" tax estates of a single person in excess of 3.5 million. One of the "distortions" of the Wall St Journal story is that the example of the little old lady who bought a house with her deceased husband's life insurance would actually be taxed only on the amount of appreciation of her only asset = the house = if it went above 3.5 million. And most people who actaully HAVE millions have 7 million estate tax exclusion: 3.5 for each spouse.

I'm not really sure how Biden's proposal affects family biz that is not incorporated, and more importantly how it affects trusts
 

BluesLegend

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Democrats want to destroy America so much, so that even a guy like Trump can't make America great again
I'm not arguing for or against here, but we have missed a balance of wealth in the last 40 years that has us more unequal than ever. For example, right now in the US, there are 18,000,000 millionaires ( not counting billionaires), which is wonderful....except at the same time we also have over 36,000,000 individuals living in poverty. A new home costs twice what it did just 20 years ago, while average income is the same. (which can only mean one thing - the rich are getting richer much faster than ever, likewise the poor getting poorer)
Look government spent over $40 trillion in just the past 10 years so clearly more tax money for those morons to waste isn't the answer.
 

OnePercenter

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Democrat politicians SALIVATE thinking about the money they can squeeze out of the middle class through capital gains taxes, almost as much as they love the idea of imposing a "wealth" tax.

Democrat voters fall into various categories, including (1) those who are too stupid to understand how capital gains taxes hurt them and their children, (2) those who don't own anything and thus don't give a shit, and (3) those who are so rich they support more radical capital gains taxes because it would allow them to acquire valuable assets from those who can't afford the taxes, would deter potential investors, and because they're financially able to exploit ways to shield/limit their own exposure to the taxes.
So your idea is tax the sale of a non-inventory asset as income?
 

BlindBoo

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Come on people, Inheritance Taxes are as American as the game of Monopoly!

If I'm not mistaken Biden's proposal is to bring it back to the 2009 level of 3.5 million per individual and 7 million for couples. That is to say if you receive more that 3.5 million in inheritance you will pay tax on what is above that 3.5 million.
 

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