To those Republicans in lower income brackets who complain of high taxes...
Complain to the officials [i]you[/i] elected.
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@Northwest @SW-User The state of Oregon does not have an inheritance tax (the so-called death tax). Is there also a federal inheritance tax? That should be canceled for quite literally everyone.
Northwest · M
@CorvusBlackthorne Oregon and Washington both have an estate tax (it could also be referred to as the inheritance tax), that applies to property transfer when an estate is settled.
There is a Federal Estate tax, also known as the death tax. The exemption was $5.4 M, but Trump increased it to $11.5+ M per individual and twice per household.
The dimwit Trumpists, though it applied to them, and that includes the SW'ers. Trump told them they will be paying 50% to the government when they die. He did not mention that it was for anything about $11.8M net estate for individuals, and that's a sliding scale. You're at 50% when your net estate is in the 100s of Ms.
There is a Federal Estate tax, also known as the death tax. The exemption was $5.4 M, but Trump increased it to $11.5+ M per individual and twice per household.
The dimwit Trumpists, though it applied to them, and that includes the SW'ers. Trump told them they will be paying 50% to the government when they die. He did not mention that it was for anything about $11.8M net estate for individuals, and that's a sliding scale. You're at 50% when your net estate is in the 100s of Ms.
@Northwest I see. I was under the impression it applied to everyone.
Northwest · M
@CorvusBlackthorne [quote]I see. I was under the impression it applied to everyone.[/quote]
No. Unless your net estate is more than about $12M, you're good. If your estate is more than $12M, then it's likely you've established trust funds for all the family/friends you care about, and you set aside $s for the organizations you care about, and then after that, if you still have more than $12M in your estate, I think heavily taxing it is fair. One of the principles the USA was built in, is that we don't have kings.
No. Unless your net estate is more than about $12M, you're good. If your estate is more than $12M, then it's likely you've established trust funds for all the family/friends you care about, and you set aside $s for the organizations you care about, and then after that, if you still have more than $12M in your estate, I think heavily taxing it is fair. One of the principles the USA was built in, is that we don't have kings.