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> while at the same time pushing to almost completely remove estate taxes, as was done during the 2018 tax cuts Just to stop fake news: The tax cuts increased
by wdr1 5y ago
> while at the same time pushing to almost completely remove estate taxes, as was done during the 2018 tax cuts
Just to stop fake news: The tax cuts increased the exception for estate tax from $5.6M to $11.2M ($22.4M for married couples.) After that amount, the estate is taxed at 40%.
OP may feel that's the same as removing it. Or they may have been misinformed & actually thought it was removed. Either way it's incorrect.
(And this is not to defend or condemn the tax bill. I just think it's important to get accurate facts on the table. I have my own opinions on how we should reform estate taxes, but my focus would be on cost basis, not exemptions.)