Democrats look to impose capital gains tax at death

The Hill ^ | 3/29/21 | Alexander Bolton

[GailA]

We have a modest 2 annuities, our modest IRA’S which we take the minimum mandated amount, I have my own checking account for SS. Hub has his own for his USN pension, Jr College Prof’s pension. Paid for house and cars. Neither of which are large. Wrong time frames.

We tied everything into 2 trusts, Family issues from our 2 sets of kids forced that. Marital for the 1 who passes first. Enough for me to live modestly. He’s nearly 81, I’m nearly 73. 2nd trust go to our kids, weird spilt as We are a blended remarried family. His is property mainly, money is mine, mainly left over life ins. and the small IRA from my late husband.

What does this death tax do to that?

[Stingray51]

Oh gosh, I am sorry but I don’t know. I did take a tax course 30 years ago but I don’t know enough to be helpful or give safe advice. And at this point, nobody really knows what will pass Congress. I heard that what Comrade Bernie is proposing would not take effect until the end of the year. But I suppose changes could also be retroactive. Buckle your seatbelt - elections have consequences, even stolen ones.

[Vaduz]

The Biden family going to have one hell of a fight after Joe checks out.

[minnesota_bound]

Meanwhile there are foundations that shelter their money.

[minnesota_bound]

It is not their money.

[entropy12]

I am speaking of immigrant voters who keep voting democrat, in spite of doing very well financially.
Look at this data based on national origin:

Origin Country————Population——Median household Income

India Americans-———4,240,466-——$126,705
Taiwanese Americans-—187,756-———$102,405
Filipino Americans-——2,983,596-——$100,273
Indonesia Americans——81,269-———$93,501
Pakistani Americans——506,193-———$87,509
Chinese Americans-——4,216,922-——$85,424
Japanese Americans——755,672-———$85,007
Korean Americans-——1,461,843———$76,674

White American’s data:
White Americans———236,173,020-—$65,902

So in spite of higher incomes than white Americans, majority keep voting democrat. Only reason I can determine is Democrats claim to be more inclusive than republicans. I have not seen any posts on DU for example, attacking any Americans with origins in a foreign country. On FR it is is allowed to stand.