Ah yes, the market responds favorably to Trumps tax plan
Of course it does. Anything to screw the working American and trickle (did I say “trickle”? I meant “flood”) the money on up to the 1%.
I had to chuckle when people thought that was a good thing before realizing it really only applies to the rich.
I do think it’s bullshit though.
I forget the amount, but I believe the family is exempt from any estate taxes up to $5 Million more than most of need to worry about.
Yeah it’s a high amount so I object less.
“You can feel the greatness returning”
…but he hasn’t been removed from office just yet - so let’s hold the celebrations.
Yeah, I believe it’s 5mil per person, so a couple can inherit 10mil tax free. Such a terrible burden to have to pay taxes on amounts above that.
I don’t understand the justification for taxing income that’s already been taxed.
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?