$90 trillion?
Only the first $13 million is tax free.
After that, an Estate is taxed at 37%-40% (federal). Some states also tax the Estate.
The current federal estate tax expires in 2025.
Since the GOP will probably lose both the House and Senate in 2024, the Estate tax exemption will drop back to $7 million - or worse, if Biden and the radicals are still in charge.
Bottom Line...
A big chunk of that $90 trillion is going to the federal government, which will pay down zero debt, and just keep spending and spending.
CNN saying “We liberals have screwed every thing up, but look what is coming to you in the future!”
I don’t want to have to wait for my parents to die to be able to afford a home, but that’s how it’s looking.
I’d much rather share my success with them. This is a legitimate worry I have right now.
but only the ones who already come from affluent families
In other words, the gap will continue to expand.
Assuming their parents don’t leave most of the cash to charity and cut the ungrateful, entitled, loser, leftist out of their will.
You’re seeing more and more articles like these. They’re priming the pump of envy and “equity” to increase the death tax.
*** $90 trillion of assets ***
Sounds like a lot till you realize these are due to inflation, or, the printing of too much paper money.
In 1970 for 8 hours work I got $10 and thought I was doing good! With that $10 I could buy 50 gallons of gas!
That same $10 today will get you barely 3 gallons and a pint of gas.
As for the wealth, it's mostly just funny money thanks to our debt and worthless dollar.
The ultimate goal of the far left. You will own nothing and like it.
Isn’t Generation X going to inherit the Boomer’s wealth? They’re next in line, not millennials.