[Don Corleone]

Everyone Should Be Allowed to Achieve Wealth

Wealth is a relative thing.

[PeterPrinciple]

impacts of his new death tax proposals.

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Eliminating the death tax has been the cry of the people for a long time, especially republicans and farmers.

The Inheritance tax which is so high and NO ONE of any brains pays it, is how you document the stepped up basis.

BUT NO, WE NEED TO GET RID OF THE INHERITANCE TAX.

Folks, you got your wish.

Now again what is not mentioned is that if you want to keep the family business going, there is Special Use Valuation to keep the estate low.

The other truth is that the heirs don’t want to keep the family business going. They want the cash.

[SaxxonWoods]

The wealth exists because private citizens build it. The govt builds no wealth, it consumes it, usually wastefully.

The more the govt controls, the less the citizens control. The less the citizens control, the less wealth the citizens can build.

[Jim Robinson]

I seem to remember some prominent demo-commie (I think it was Hillary) saying, “How much wealth should a person be ALLOWED to accumulate?”

[PeterPrinciple]

The heirs want the cash, and who do they sell it to? The big Corporate investors.

But, I invested in three young farmers and got burned by every one of them. One cost me $300,000. Doesn’t meant there isn’t a good young farmer to invest in, just that I didn’t find one. They are as rare as hen’s teeth.

I’d have been better off to align with a big farmer.

[A Navy Vet]

Biteme’s version of “You didn’t build that”.

[Savage Beast]

Everyone could achieve wealth in America before the decadence of Western Civilisation afflicted the USA and half the US population succumbed to it.

[Intar]

The Left hate's private owned businesses, but they love Corporations since that allows avenues to government ownership; see Nazi Germany, USSR, CCP, Venezuela, etc. Old Marx believed in Corporations since they are a form of a Trade Union. The only recourse SMBs have is as follows:

a. Liquidate the business to cover the tax burden.

b. Convert to an S Corp and keep shares within the family and appoint board members from among the family members. This will shift the tax burden to capital gains, however Biden's capital gains tax changes will increase the burden based on qualitative means instead of quantitative ones, meaning ridiculously high capital gains taxes. This second option is temporary as the tax code changes will make it too expensive to hold stock.

Endgame here is to smash capitalism entirely and cede all ownership to the state, e.g. Communism. Guess we should all have really taken McCarthism seriously, huh?

[The Unknown Republican]

Allowed? Everyone has the right to pursue wealth.