the threshold for estate tax is now 13.9 million, set to revert to 5 million in 2026 unless Congress extends them

The estate tax should be repealed


Bell_curve

In the 90s, I knew someone whos parents owned something like 300 acres of land. It was farm land that they leased out to farmers....the made a decent income from rental but definitely only like middle-class income.

Their parents died and so was left to him. The "exemption" was something like 500K....and the 300 acres were probably valued at $1.5M....so he was hit with a tax bill on the $1M.

Obviously this forced him to sell off the land. Its how the gov destroys familial wealth.

Thankfully I think the exclusion is much higher now.

econ

How Much Money Exists in the World Per Person?

0xbitcoiner

In the 90s, I knew someone whos parents owned something like 300 acres of land. It was farm land that they leased out to farmers....the made a decent income from rental but definitely only like middle-class income. 

Their parents died and so was left to him. The "exemption" was something like 500K....and the 300 acres were probably valued at $1.5M....so he was hit with a tax bill on the $1M. 

Obviously this forced him to sell off the land. Its how the gov destroys familial wealth. 

Thankfully I think the exclusion is much higher now. 