Talk of The Villages Florida - View Single Post - Black Monday on its Way
View Single Post
 
Old 04-09-2025, 10:38 AM
jimjamuser jimjamuser is offline
Sage
Join Date: Mar 2018
Posts: 9,877
Thanks: 6,881
Thanked 2,241 Times in 1,809 Posts
Default

Quote:
Originally Posted by manaboutown View Post
Don't forger the annual gift tax exclusion. $19K/donee in 2025. Gift Tax: 2024-2025 Exemptions and Limits - NerdWallet
Yes, basically RICH people get laws passed to favor RICH people. The problem is that passing WEALTH down through the generations is what eventually (maybe now) leads to KINGS. Warren Buffet set up a SMALL trust fund for HIS children so as to make them well off, but NOT RICH. That way each of his children will have to make their own fortune for themselves, if that is what THEY want to do. Virtually, he did what the tax law of the USA SHOULD do, which is force every generation to make it on its own. That way each generation does NOT become lazy and effete. It makes for a smarter and stronger Democracy. NOT having a strong Democracy is why we are in this GIGANTIC PICKLE today.