Reply to Will Manchin and Sinema crack?

Forum Index » Political Discussion

Reply to "Will Manchin and Sinema crack?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]If so what taxes are still on the table? I mean anyone have any ideas what would still be on the table to pay for the human infrastructure 3.5t bill? It would prob be like a 2t bill if they agree, but would step up basis come back into it? No joke I stand to inherit money. I don’t care about anything you soak the rich idiots think. I just want to know what taxes are still feasible. They should pass the 1.2t infrastructure alone, but all these progressive fks are whining they’ll tank that without the other, so what’s in it? Does it usher in socialism in perpetuity through couched language? I hate trump ans McConnel but at least they weren’t trying to screw everyone by taxing them to death out of “fairness”. [/quote]

I do not think step up will come back into play.  There is a huge coalition against it, particularly farmers. Dem Senator Tester owns a huge farm, so it’s hard to see 50 votes for step up on the dem side.  Even carryover basis for heirs would be hard to administer as it would often mean trying to find out the basis of an asset from a dead person.

If you’re paying attention to the estate, pay attention to exclusion cap.  The proposal is to lower it from 11 million pp to 5 million pp. That sounds like a lot, but if there are several kids and the family is trying to hang on to assets to pay for things like unexpected healthcare or long term care needs or to pay for college and grad school, 5 million doesn’t go very far. Anyway the lowering the estate and gift exclusion isn’t going to mean better capturing the wealth of the Gates and Bezos of this world who just leave money to charity and trusts or offshore.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics