dajo9 said:

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I'll answer both your posts here. Thank you for providing a specific, substantial cut. That is more than I usually get from MAGA. Unfortunately it is inadequate. The entire defense budget is about $1 trillion and our annual deficit is about $2 trillion. If you cut defense in half (which is politically impossible) 75% of the problem still exists.

1. American's aren't taxed twice on their assets. They are taxed on income. An Estate Tax doesn't tax somebody twice as the previous holder is dead.

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Perhaps I used the wrong word when I said assets.
They are first taxed on their income and then taxed again on their assets when they die.

I will simply say the following . . .

The fact of the matter is that the person who is dead is having his money taxed AGAIN by the Govt even though it is now technically part of an Estate.

I've made a lot of money in the last 15 years with two highly speculative and risky investments that no one was "backstopping" me on. I took that risk. Not the government.

Period.

I am paying my fair share of long-term capital gains taxes on (one) of those investments.
The other is still open and outstanding.

If I pass away tomorrow, two-thirds of my "wealth" would be subject to taxes under the proposals of people like Bernie Sanders and Elizabeth Warren to be redistributed.

Currently, anything under $15 million is exempt from a 40% federal tax.

Bernie Sanders wants to take us back to 2009.
Never mind that $3.5 million back then is roughly $5.5 million today.

I'm sure that there are a number of families here in the East Bay within a short dirve of the Cal campus that don't believe they are in the typical Sanders/Warren "wealth" category given that the home they live in happens to cost half of that $3.5 million.

Thought I would post something about the ECONOMY since this is the ECONOMY thread.

The Bond Market is the ultimate barometer.

Anyone want to pay nearly 7% for a 30 year mortgage?

DiabloWags said:

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dajo9 said:

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I'll answer both your posts here. Thank you for providing a specific, substantial cut. That is more than I usually get from MAGA. Unfortunately it is inadequate. The entire defense budget is about $1 trillion and our annual deficit is about $2 trillion. If you cut defense in half (which is politically impossible) 75% of the problem still exists.

1. American's aren't taxed twice on their assets. They are taxed on income. An Estate Tax doesn't tax somebody twice as the previous holder is dead.

---

Perhaps I used the wrong word when I said assets.
They are first taxed on their income and then taxed again on their assets when they die.

I will simply say the following . . .

The fact of the matter is that the person who is dead is having his money taxed AGAIN by the Govt even though it is now technically part of an Estate.

I've made a lot of money in the last 15 years with two highly speculative and risky investments that no one was "backstopping" me on. I took that risk. Not the government.

Period.

I am paying my fair share of long-term capital gains taxes on (one) of those investments.
The other is still open and outstanding.

If I pass away tomorrow, two-thirds of my "wealth" would be subject to taxes under the proposals of people like Bernie Sanders and Elizabeth Warren to be redistributed.

Currently, anything under $15 million is exempt from a 40% federal tax.

Bernie Sanders wants to take us back to 2009.
Never mind that $3.5 million back then is roughly $5.5 million today.

I'm sure that there are a number of families here in the East Bay within a short dirve of the Cal campus that don't believe they are in the typical Sanders/Warren "wealth" category given that the home they live in happens to cost half of that $3.5 million.

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So if a married couple dies with $10M their heirs get about $8.5M. A single person's heirs get about $6.25M.

That seems ballpark good.

dajo9 said:

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DiabloWags said:

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dajo9 said:

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I'll answer both your posts here. Thank you for providing a specific, substantial cut. That is more than I usually get from MAGA. Unfortunately it is inadequate. The entire defense budget is about $1 trillion and our annual deficit is about $2 trillion. If you cut defense in half (which is politically impossible) 75% of the problem still exists.

1. American's aren't taxed twice on their assets. They are taxed on income. An Estate Tax doesn't tax somebody twice as the previous holder is dead.

---

Perhaps I used the wrong word when I said assets.
They are first taxed on their income and then taxed again on their assets when they die.

I will simply say the following . . .

The fact of the matter is that the person who is dead is having his money taxed AGAIN by the Govt even though it is now technically part of an Estate.

I've made a lot of money in the last 15 years with two highly speculative and risky investments that no one was "backstopping" me on. I took that risk. Not the government.

Period.

I am paying my fair share of long-term capital gains taxes on (one) of those investments.
The other is still open and outstanding.

If I pass away tomorrow, two-thirds of my "wealth" would be subject to taxes under the proposals of people like Bernie Sanders and Elizabeth Warren to be redistributed.

Currently, anything under $15 million is exempt from a 40% federal tax.

Bernie Sanders wants to take us back to 2009.
Never mind that $3.5 million back then is roughly $5.5 million today.

I'm sure that there are a number of families here in the East Bay within a short dirve of the Cal campus that don't believe they are in the typical Sanders/Warren "wealth" category given that the home they live in happens to cost half of that $3.5 million.

---

So if a married couple dies with $10M their heirs get about $8.5M. A single person's heirs get about $6.25M.

That seems ballpark good.

---

I'm not following your math.

DiabloWags said:

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dajo9 said:

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DiabloWags said:

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dajo9 said:

---

I'll answer both your posts here. Thank you for providing a specific, substantial cut. That is more than I usually get from MAGA. Unfortunately it is inadequate. The entire defense budget is about $1 trillion and our annual deficit is about $2 trillion. If you cut defense in half (which is politically impossible) 75% of the problem still exists.

1. American's aren't taxed twice on their assets. They are taxed on income. An Estate Tax doesn't tax somebody twice as the previous holder is dead.

---

Perhaps I used the wrong word when I said assets.
They are first taxed on their income and then taxed again on their assets when they die.

I will simply say the following . . .

The fact of the matter is that the person who is dead is having his money taxed AGAIN by the Govt even though it is now technically part of an Estate.

I've made a lot of money in the last 15 years with two highly speculative and risky investments that no one was "backstopping" me on. I took that risk. Not the government.

Period.

I am paying my fair share of long-term capital gains taxes on (one) of those investments.
The other is still open and outstanding.

If I pass away tomorrow, two-thirds of my "wealth" would be subject to taxes under the proposals of people like Bernie Sanders and Elizabeth Warren to be redistributed.

Currently, anything under $15 million is exempt from a 40% federal tax.

Bernie Sanders wants to take us back to 2009.
Never mind that $3.5 million back then is roughly $5.5 million today.

I'm sure that there are a number of families here in the East Bay within a short dirve of the Cal campus that don't believe they are in the typical Sanders/Warren "wealth" category given that the home they live in happens to cost half of that $3.5 million.

---

So if a married couple dies with $10M their heirs get about $8.5M. A single person's heirs get about $6.25M.

That seems ballpark good.

---

I'm not following your math.

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The $3.5m you cite is for singles. Married couples is double to $7M. For the remaining $3M (of the total $10M estate) I estimated 50% tax = $1.5M tax and $8.5M inheritance.

For singles the remaining $6.5M I also estimated 50% tax = $3.25M tax and $6.75M inheritance.

dajo9 said:

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The $3.5m you cite is for singles. Married couples is double to $7M. For the remaining $3M (of the total $10M estate) I estimated 50% tax = $1.5M tax and $8.5M inheritance.

For singles the remaining $6.5M I also estimated 50% tax = $3.25M tax and $6.75M inheritance.

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Why do you feel that the Govt is deserving of 33% of my wealth when I die?

10 YEAR TREASURY YIELD AS HIGH AS 4.814% THIS MORNING.

THIS IS HOW YOU MAGA!

GO TRUMP GO!

WE ARE CLEARLY THE HOTTEST COUNTRY IN THE WORLD RIGHT NOW.

LMAO.

10-year U.S. Treasury yield hits highest level since November 2023

DiabloWags said:

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dajo9 said:

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The $3.5m you cite is for singles. Married couples is double to $7M. For the remaining $3M (of the total $10M estate) I estimated 50% tax = $1.5M tax and $8.5M inheritance.

For singles the remaining $6.5M I also estimated 50% tax = $3.25M tax and $6.75M inheritance.

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Why do you feel that the Govt is deserving of 33% of my wealth when I die?

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Because it's good for the country. $6.75M for your heirs is plenty.

dajo9 said:

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DiabloWags said:

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dajo9 said:

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The $3.5m you cite is for singles. Married couples is double to $7M. For the remaining $3M (of the total $10M estate) I estimated 50% tax = $1.5M tax and $8.5M inheritance.

For singles the remaining $6.5M I also estimated 50% tax = $3.25M tax and $6.75M inheritance.

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thanks. alzheimers bear doesn't get stuff, alot, but given that us married folks hardly ever croak at the same time, won't the harsher Single inheritance rules apply practically all the time??
signed, in our 70s and haven't done inheritance planning, umm, quite yet.
# childless by choice # uh-oh, there's a hole in our donut

DiabloWags said:

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dajo9 said:

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DiabloWags said:

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dajo9 said:

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The $3.5m you cite is for singles. Married couples is double to $7M. For the remaining $3M (of the total $10M estate) I estimated 50% tax = $1.5M tax and $8.5M inheritance.

For singles the remaining $6.5M I also estimated 50% tax = $3.25M tax and $6.75M inheritance.

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Why do you feel that the Govt is deserving of 33% of my wealth when I die?

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Because it's good for the country. $6.75M for your heirs is plenty.

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You're assuming that the Govt will spend my money wisely.
That's not a good bet. In fact, it's a horrible bet.

I'd rather have the money directed to non-profits that I support.

Thanks.

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As I've already said it's about redistribution for things like healthcare and senior care.

smh said:

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dajo9 said:

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DiabloWags said:

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dajo9 said:

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The $3.5m you cite is for singles. Married couples is double to $7M. For the remaining $3M (of the total $10M estate) I estimated 50% tax = $1.5M tax and $8.5M inheritance.

For singles the remaining $6.5M I also estimated 50% tax = $3.25M tax and $6.75M inheritance.

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thanks. alzheimers bear doesn't get stuff, alot, but given that us married folks hardly ever croak at the same time, won't the harsher Single inheritance rules apply practically all the time??
signed, in our 70s and haven't done inheritance planning, umm, quite yet.
# childless by choice # uh-oh, there's a hole in our donut

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I think they use Trusts or something. Not sure the details.

DiabloWags said:

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dajo9 said:

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DiabloWags said:

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Why do you feel that the Govt is deserving of 33% of my wealth when I die?

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Because it's good for the country. $6.75M for your heirs is plenty.

---

You're assuming that the Govt will spend my money wisely.
That's not a good bet. In fact, it's a horrible bet.

I'd rather have the money directed to non-profits that I support.

Thanks.

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Reality more like this:

Accurate pic.twitter.com/4wS1svfDI2

— 🔸️The.Angry.Ostrich. (@DaAngryOstrich) September 1, 2026

I just discovered a new inflation hedge. In the past ten years inflation has been around 40% but first class stamps have gone up by 75%. So buy now and then sell at a slight discount in a few years.

This is how you MAGA!