10-30-2020, 02:18 PM
https://www.politifact.com/factchecks/20...inheritan/
Had to check several times to make sure I was reading that correctly from a couple sources. Do you guys realizes how much that would cost anyone with parents or anyone who inherits anything from anyone?
His proposal puts capital gains tax at 43.4%.
This would force most residential and commercial buildings/land to be sold at death. My folks run a SMALL dairy. If this all happened I bet it would be +$3M in taxes due. There is no chance my brother would have the capital available to continue the farm. In fact I could comfortably say this would end all family farms.
Had to check several times to make sure I was reading that correctly from a couple sources. Do you guys realizes how much that would cost anyone with parents or anyone who inherits anything from anyone?
His proposal puts capital gains tax at 43.4%.
This would force most residential and commercial buildings/land to be sold at death. My folks run a SMALL dairy. If this all happened I bet it would be +$3M in taxes due. There is no chance my brother would have the capital available to continue the farm. In fact I could comfortably say this would end all family farms.