Inheritance Taxes plus No Stock reset...

[The Sage of Main Street]

It is the worst lobbied for win government has given the Uber rich, imo.

Daddy gets his shares when he starts the company at $0 cost base.

Shares can now be worth $trillion and daddy only borrows against them so he can avoid capital gains tax.

Kid inherits them and govt gives a capital gains reset meaning the kid can now sell all $trillion tax fee (his dad could not) and will only pay tax on growth above 1 trillion.

It makes zero sense other then a gift to Uber rich for their lobbying bribes.

Defund the RichKid Reich

 

[Truth Detector]

I am curious what everyone, left or right view on this.

Using Jeff Bezos as the example, when he dies he will likely leave substantially all of his Stock to his kids. Stock he received at a zero cost base when Amazon was created that is worth Hundreds of billions today.

Due to lobbied for tax policy Bezos has been able to just borrow money against his stock to live and never sell any stock and thus avoid the significant Capital Gains tax he would otherwise pay.

When his kids get the stock, after his death Congress due to Lobbying passed a law that the stock gets a Capital gains reset, meaning whatever the stock price is, it is trading at, now becomes the price they would set for them to pay Capital gains but all the prior gains they get free. SOmething Jeff Bezos would not have got while alive.

So not only do the kids hundreds of billions but they get it tax free on a stock gain that NEVER EVER gets taxed in the way normal citizens with stock get taxed.

Making the heirs pay the Capital Gains at inheritance still leaves them filthy rich but just allows the tax everyone else pays on stock gains to be received by government.

Would you support this transfer being taxed or do you believe the heirs should get it tax free?

First, you should start with a premise that isn’t a pile of dumb leftist lies. Hamas hugging Kamala voters are very stupid

 

[The Sage of Main Street]

Dads work hard to give their kids a good life. Sorry you are envious of them but that still doesn't entitle you to their stuff.

Lowlife Druggies Getting High on Ploot Polish

Why should I be jealous of someone who spends his whole life knowing that he'd be a nobody without his Daddy's money? You inferior people are jealous of the talented, and you gloat when they are exploited or excluded by elevated nobodies. You must have loved it when Dumbo Dubya got in Yale and Harvard over people who make you feel stupid and useless.

 

[The Sage of Main Street]

We are talking about inherited wealth, which is pretty much money for free. As for "great personal risk and stress", there is a lot of that in being poor.

Preppy Progressives

Poor is not the opposite of Preppy. The RichKids used their inherited political power to turn loose the feral savages on those born in the White working class, who are the only real Americans.

 

[The Sage of Main Street]

The lesson here, WWW, is...do not be poor. Work hard and accumulate generational wealth.

Generational Wealth Is Degenerate

You Preppylovers are doubling down on the destruction of society. The dead own nothing to pass down. Their dead wealth will support the best of the next generation and benefit all the rest. Only 1% of those born in the 1% will qualify for that support. They are "birth heirs" and not potential-to-society heirs.

It's just like Larry Bird bringing in billions of White dollars into the NBA. His son didn't get that; the best of the next generation's players did. And most of them were Black, showing how little claim heirs have to what their Daddies produced without any contribution from them.

 

[The Sage of Main Street]

View: https://www.youtube.com/shorts/TNZ0oFKFAsk

Make Every Dynasty Die Nasty


That's exactly what caused the Great Depression. Low wages, though rising, weren't enough to buy the overproduction. The unsold surpluses were a total loss and caused bankruptcies. This lack of letting their workers have more of the pie was the inevitable incompetence caused by the disaster of hereditary ownership, which is passed on to inferior people and not to the kind of people who got the economy running in the first place.

 

[The Sage of Main Street]

Did I say that I did not want wealth to be inherited, WWW?

Are you alright?

"Hey, Kids! Ask your Dad to Buy You This Shiny New Tory. If He Says He Can't Afford It, He's a Loser!"

Plootlickers hate their Daddies for not getting rich and spoiling them. Preppies are their imaginary brothers, a fantasy as childish as they are. Daddy issues are for those who never grew up. I guess you need some kind of idol, since you are jealous of those who really deserve it.

 

[The Sage of Main Street]

View attachment 99481

How Soon Would Pro Sports Be Disbanded After Players Get the Privilege of Passing on Their Positions to Their Sons?


Off-topic. Quit associating earned wealth with inherited wealth. The first benefits society, the second destroys it.

 

[The Sage of Main Street]

In 1910, Teddy Roosevelt predicted what the super-wealthy would do and attempted to control it.
He said ' The prime need is to change the conditions which enable these men to increase power. Therefore, I believe a graduated inheritance tax on big fortunes, properly safeguarded against, and increasingly rapid in amount with the size of the estate.
What he, a very rich man, saw coming as a threat to the country is here like never before. Accumulated wealth is intrinsic with accumulated power.
You Trumpys are happily voting and fighting for more power for the super-wealthy. You are taking America down with your sycophancy to the wealthy. We all suffer the impact of your being conned by a not-too-bright leader, who is a great conman.

From Camelot in a Straight Line to Kamala

The Democrats have been controlled by HeirHeads ever since Preppy Prettyboy JFK took over. Do you think Whites born in the working class support freaks, ferals, fairies, and foreigners? No, only the spoiled-putrid rich kids do. Poison Ivy League.

 

[The Sage of Main Street]

And there is nothing wrong with them having their say in how government is run. There is a problem with them blocking out everyone else from having a say, or blocking other people from making money. And there is definitely something wrong when rich people ignore their fiduciary duties, and claim other people's money as their own.

Eminent Domain Supersedes the RichKid Reich's Domination

Inheritance is also "other people's money." It belongs to those who contributed to its accumulation, not to grave-robbing heirs. If Daddy wants to blow it all instead of letting his true heirs take it, that's all right with me, because the worst damage is done by setting up his birth heirs in superior positions, blocking those who deserve to belong there, his natural heirs, and impoverishing all other citizens.

 

[Electrohead]

I dont believe In inheritance. Everyone should have a baseline of things provided for them, including retirement and housing and food and Healthcare and education.

Inheritance is just a way for wealthy elites to perpetuate their own power.

 

[Matt Dillon]

Eminent Domain Supersedes the RichKid Reich's Domination

Inheritance is also "other people's money." It belongs to those who contributed to its accumulation, not to grave-robbing heirs. If Daddy wants to blow it all instead of letting his true heirs take it, that's all right with me, because the worst damage is done by setting up his birth heirs in superior positions, blocking those who deserve to belong there, his natural heirs, and impoverishing all other citizens.

Did the parents not already pay taxes on that money?
Why does the government get another bite, and then another, and another?

 

[QP!]

Did the parents not already pay taxes on that money?
Why does the government get another bite, and then another, and another?

That won't be the case with wealth the tech oligarchs pass on to next generation.

They are borrowing against their stock to avoid all capital gains tax, which are already too low.

The kids then get the stock with a Capital Gains reset and can so something the founders of the company could not do and sell a trillion in stock and not pay a penny of tax.

The Capital Gains from $0 cost base stock to a trillion or more all becomes free to them.

 

[Electrohead]

We're not. Many of us have wealth that we intend to pass down to our own kids. Like everyone else, most of us who have wealth got it from working our entire lives, not as a gift from our parents.

A better question would be "Why do RWers believe that certain people shouldn't pay the same tax rates as we regular citizens do?"

Because to be right wing means you must believe in a domination hierarchy.

They believe certain groups or individuals deserve the wealth and power.

Its that simple.

 

[Lionfish]

How Soon Would Pro Sports Be Disbanded After Players Get the Privilege of Passing on Their Positions to Their Sons?


Off-topic. Quit associating earned wealth with inherited wealth. The first benefits society, the second destroys it.

Most people I know with inherited wealth, spend like drunken sailors.
Great for the economy.

 

[tigerred59]

I am curious what everyone, left or right view on this.

Using Jeff Bezos as the example, when he dies he will likely leave substantially all of his Stock to his kids. Stock he received at a zero cost base when Amazon was created that is worth Hundreds of billions today.

Due to lobbied for tax policy Bezos has been able to just borrow money against his stock to live and never sell any stock and thus avoid the significant Capital Gains tax he would otherwise pay.

When his kids get the stock, after his death Congress due to Lobbying passed a law that the stock gets a Capital gains reset, meaning whatever the stock price is, it is trading at, now becomes the price they would set for them to pay Capital gains but all the prior gains they get free. SOmething Jeff Bezos would not have got while alive.

So not only do the kids hundreds of billions but they get it tax free on a stock gain that NEVER EVER gets taxed in the way normal citizens with stock get taxed.

Making the heirs pay the Capital Gains at inheritance still leaves them filthy rich but just allows the tax everyone else pays on stock gains to be received by government.

Would you support this transfer being taxed or do you believe the heirs should get it tax free?

Meanwhile low income seniors who die or end up in nursing homes, are often having to sell their home or die in order to relieve their kids of the tax burdens imposed by the states on inheritance. This is why the rich keeps getting richer and richer by the hour in this nation and why so so so many white men are down with this and the market implications. But Amazon days will not be as lucrative in the future as we all expect. Once AI takes over jobs in this country, a huge section of his profits will cease....cause ain't no body gonna have jobs no mo....so I wouldn't press so much on this. America's job future is bleak and getting worser. AI don't order shit from Amazon, people do!!

 

[Matt Dillon]

That won't be the case with wealth the tech oligarchs pass on to next generation.

They are borrowing against their stock to avoid all capital gains tax, which are already too low.

The kids then get the stock with a Capital Gains reset and can so something the founders of the company could not do and sell a trillion in stock and not pay a penny of tax.

The Capital Gains from $0 cost base stock to a trillion or more all becomes free to them.

Why do you think on other peoples' money so much, brah?
I find that odd..

 

[ThatOwlWoman]

Because to be right wing means you must believe in a domination hierarchy.

They believe certain groups or individuals deserve the wealth and power.

Its that simple.

The good part of capitalism is the reward that is gotten for hard work, innovation, talent. The downside is that a certain party thinks that reward shouldn't be taxed or encumbered in any way, leading to accumulation of huge wealth in the hands of a very few. Prosperity is created when wealth is more evenly distributed. Conservatives don't get this.

 

[Matt Dillon]

The good part of capitalism is the reward that is gotten for hard work, innovation, talent. The downside is that a certain party thinks that reward shouldn't be taxed or encumbered in any way, leading to accumulation of huge wealth in the hands of a very few. Prosperity is created when wealth is more evenly distributed. Conservatives don't get this.

Oh STFU with your commie bullshit.

 

[QP!]

Why do you think on other peoples' money so much, brah?
I find that odd..

Because you have to be stupid to be a working schmuck required to pay taxes while oligarchs and their kids get a pass on having to pay a penny on them in so many, like this one.

Are you stupid? Oh... wait... no need for you to answer that.