Reply to Can we talk about parents buying their adult children luxury homes

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Tax the shit out of it. This is what privilege is.[/quote]

I disagree with this.  A lot of these parents worked, scrimped, and saved to get there.  They didn't not spend money on crazy things - they saved and bought homes, they ate out once a month, they didn't do lavish things with their kids.  Now they have money and lots of it.  Their sacrifices and hard work gave them that money.  Now, you see those who have astounding higher education debt, taking jobs (or not) that have easy hours, taking lavish vacations, and spending money eating out all the time pissed at others having wealth that obtained it through sacrifice.  They want to tax their capital gains and inheritances.  It is petty.

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You don’t know any of this. But we all know that earned income is taxed higher than inherited income and housing .And loopholes, low tax investments, shelters, etc, are for rich people whose money works for them while they watch it grow.  Why do we penalize working for money?  I paid $70,000 in taxes last year but can only afford a starter home in this high COL area. Meanwhile, people with inherited wealth are making all cash offers over list price then financing after the sale to take advantage of low rates. “The rich get richer, the poor get poorer”[/quote]

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