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inheritance tax kicks in around 10 million dollars. it doesn't touch the middle class. it touches billionaires who die and leave a hundred million to everyone i
by adgjlsfhk1 3y ago
inheritance tax kicks in around 10 million dollars. it doesn't touch the middle class. it touches billionaires who die and leave a hundred million to everyone in their family.
- User23 3y agoBillionaires have trusts and foundations and lawyer knows what else. It doesn't touch them at all. Also a 700 acre farm, which is an at most medium size family farm, could easily have a nominal value north of 10 mil even though there's no way it's returning 1 million a year net. Same for a modestly profitable small business.
- eppp 3y agoShouldn't small businesses and farmers plan ahead and create a plan for divesting before they die or purchase life insurance with a payout large enough to cover the taxes at death? It seems like these problems are easily dealt with.