Reply to Does your social circle have a lot of family money/trust funds?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]
Oh and I’ll add that our private school has many grandparents helping with tuition. [/quote]

This can be for tax reasons. We can very easily afford private school, but the grandparents pay because payments for education don't count towards any gift tax limits at all, and it helps them reduce the size of their estate. While right now their estate is under the current estate tax limit, there is routinely talk at the national and state levels of lowering this limit, so they may indeed hit the limit in the future.[/quote]

The 2026 sunset provision will be cutting the federal tax exemption in half.      The gift tax exemption will also be cut in half.  Right now a married couple can gift $36,000 per person. Unless Congress acts it will also be cut in half.  [/quote]m

If you want to keep the estate tax limits as they are now, then for all that is holy, please do not vote Democrat in the upcoming election. If you want to have your wealth forcibly redistributed to the masses then by all means vote blue. But don’t complain when they come for your hard-earned money.[/quote]

Hard pass. I don’t think there’s any estate tax revision that could motivate me to vote for Donald Trump.

Secondly, republicans and Trump royally screwed high earners in blue states with his tax reform that limited the SALT cap to 10k. I trust Trump and republicans as far as I can throw them.

Lastly, there are so many other reasons more important than money that I would never vote for the MAGA party. Sorry. Maybe a middle of the road Romney Republican 15 years ago, but Republican Party of present had completely alienated the majority of the country, even the wealthy who have a financial interest to limit taxes but also have (gasp) a strong moral code.  [/quote]

Agreed.    I don’t know why we can’t find a Romney type like when he was governor of Massachusetts.     He knew his constituents and supported liberal causes while being fiscally moderate.   Where are they all?[/quote]

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