Step Up Basis Changes - More Libbie BS

When you used up all your money paying estate taxes, what are you going to live on

 

Sure, but there’s far more things to worry about than whether my kids get a step up basis on my house 20-30 years from now after I’ve used a trust feature that allows me to avoid a spend down while taking advantage of other governmental benefits along the way.

Theres nothing in this ruling that disallows inheritance, and there’s nothing about the inheritance that’s taxable until they sell the house. That’s when the gain is calculated.

Pick your poison. Want to give your kids a step up basis to reduce the tax load when they sell your house after you pass? Don’t put your house in a trust and let it be part of your taxable estate.

Want to take advantage of certain state provided long term care? Put your house in a trust to avoid the spend down provisions and don’t get a step up basis.

But allowing both seems wrong to me. You get to decide? Pick one or the other.

 

Can you please point me to the last Republican president who reduced government spending? Or balanced a budget. Or had a shred of fiscal responsibility?

You’re the perfect mark for our politicians because you believe one side is actually better than the other, when they both inherently suck.

 

Eisenhower.

And the modern GOP would lynch him for his cuts today.

 

Thanks, there’s a reason it’s called Yahoo!

 

You said nothing is more wasteful than passing your money to the guv, and that you’d never vote for democrats.

My point was that both sides want your money, they’re each just gonna get to it differently.

 

The yahoo article was pretty confusing. Agreed.

 

I think that is intentional

 

Every tax code should favor the tax payer. The government should only operate/ spend as little as possible. But that cat is out of the bag.

 

Our tax code definitely does, that's why its got all those exceptions, credits, loopholes etc. The more taxes you pay, the more it favors you in fact.

 

You're one of the ones libbies are trying to help by preventing Repubs from cutting your benefits. You're welcome.

 

Then refuse to accept your SS benefits when the time comes, since you don't need them.

 

You won't. You're gonna need that money.

 

There is a SCOTUS case coming up on whether the Republican passed tax on foreign earnings in Sec 965 is an unconstitutional tax on unrealized gains… consider that on tax… the uniparty reigns.