Usually it’s “already been taxed” at a much lower level than the levels working Americans pay on the money they actually worked for.
The federal estate tax is a tax on property (cash, real estate, stock, or other assets) transferred from deceased persons to their heirs. Only the wealthiest estates pay the tax because it is levied only on the portion of an estate’s value that exceeds a specified exemption level — $5.49 million per person (effectively $10.98 million per married couple) in 2017. The estate tax thus limits, to a modest degree, the large tax breaks that extremely wealthy households get on their wealth as it grows, which can otherwise go untaxed.
Thank you. That cleats rings up a lot for me. It’s different in Canada.
please explain to me exactly what in this bill is a benefit to the rich and not the middle class or lower income classes
OMG. Not answering that. Either it’s pure troll bait, or you are an unbelievable tool.
Jeff, just curious. How is the billions and billions in projected deficits created by this tax plan to be made up? Who knows, there may even be a clue there somewhere.
I cant believe you asked that Doc! The rich people are going to use the savings to create jobs. Reagan said so.
so you can’t name one provision in this bill specifically that is a benefit to only the rich?
Wouldn’t removing the death tax be exactly that?
Which income bracket benefits the most, and by how much more?
Given it’s Hansen, it’s pure troll bait.
Actually, I think it’s both, roughly 60/40.
poor people don’t die?
Poor people already don’t pay estate tax.
how about you? can you give an example of how this bill is a money grab for the rich.
No offense Jeff, but I gave you an simple and obvious example and you’re still scratching your head, which has to be a nice vacation for your balls.
The estate taxes were already exempt for a couple up to about 10 Million, probably even more than a baller like you has to worry abour.
Lemme help ya Jeff, since you may not speak Bro-ese fluently. I think his point is that regardless of the size of your estate, most likely this tax bill won’t help you at all. But it will help other people who really don’t need helping.