To: packagingguy
small business or professional practice...OR even an appreciated home you lived in for 30 to 50 years. Ending the basis step-up, raising the capital gains tax, making that raise retroactive, now taxing UNREALIZED capital gains, and sky-high inflation. We had a tidy nest egg to pass to the kids, but that GD bastard is going to steal darn near 100% of it.
Our only hope is Trump gets re-elected in 2024 and the GOP undoes anything and everything these Dem bastards are doing.
3 posted on
06/17/2021 2:51:15 PM PDT by
ProtectOurFreedom
("Pour les vaincre il faut de l'audace, encore de l'audace, toujours de l'audace")
To: ProtectOurFreedom
If you live in a $500,000 home that you intend to leave to your children, your best bet may be to just sell it to them for $25,000 while you're still alive.
You can probably get away with this quite easily as long as you paid at least $25,000 for it.
11 posted on
06/17/2021 3:02:36 PM PDT by
Alberta's Child
("And once in a night I dreamed you were there; I canceled my flight from going nowhere.")
To: ProtectOurFreedom
There is never any discussion of indexing to inflation. Government causes inflation, then taxes the ‘gain’ caused by inflation while the purchasing power nose dives. Stealing!
37 posted on
06/17/2021 4:25:50 PM PDT by
Lockbox
To: ProtectOurFreedom; packagingguy
Expect an increase of transfers of houses, bank accounts, etc to the next generation.
47 posted on
06/17/2021 5:11:34 PM PDT by
WildHighlander57
((WildHighlander57 returning after lurking since 2000))
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