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]

Unearned income isn’t that hard earned.   The incentive is for people to put the money back into the economy.    Stop hoarding it.   Stop talking about “when I die” my children etc etc.   Transfer money over your lifetime, give to charity, make a difference with excess money.

Less than 1% of people leave an estate that’s taxable so I’m sure there’s a lot of exaggeration here.    [/quote]

I’m anti estate tax but would never vote for republicans, and I completely disagree with you. My money is taxed once. My parents money was taxed when it was earned. Why does the government get to say whether they save it, spend it or give it away and to whom? Why could they donate it to a pro gun non profit tax deductible and not to their kids?

Tax once and tax fairly. taxing already taxed assets is governmental greed and a scam to cover up mismanaged federal dollars by grabbing more. [/quote]

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