The GOP Response to Biden’s Rescue Act Is a Massive Gift to Wealthy Heirs - Printable Version +- Cincinnati Bengals Message Board / Forums - Home of Jungle Noise (http://thebengalsboard.com) +-- Forum: Off Topic Forums (http://thebengalsboard.com/Forum-Off-Topic-Forums) +--- Forum: Politics & Religion 2.0 (http://thebengalsboard.com/Forum-Politics-Religion-2-0) +--- Thread: The GOP Response to Biden’s Rescue Act Is a Massive Gift to Wealthy Heirs (/Thread-The-GOP-Response-to-Biden%E2%80%99s-Rescue-Act-Is-a-Massive-Gift-to-Wealthy-Heirs) |
The GOP Response to Biden’s Rescue Act Is a Massive Gift to Wealthy Heirs - GMDino - 03-12-2021 Between running to Cancun during the Texas emergency and this I am not sure how the gqp is going to convince voters that THEY are really the party of the working class. https://nymag.com/intelligencer/2021/03/biden-republican-response-rescue-act-estate-tax-workers-party.html Quote:Last month, Senator Ted Cruz appeared at CPAC and declared that their party had become the authentic representative of the proletariat. “The Republican Party is not the party of the country clubs,” he boasted, “it’s the party of steel workers and construction workers and taxi drivers and cops and firefighters and waitresses.” Republicans have been saying things like this for many years, but with special emphasis since Donald Trump became their standard-bearer. RE: The GOP Response to Biden’s Rescue Act Is a Massive Gift to Wealthy Heirs - BigPapaKain - 03-12-2021 Much shock Very awe Wow RE: The GOP Response to Biden’s Rescue Act Is a Massive Gift to Wealthy Heirs - Benton - 03-13-2021 (03-12-2021, 09:02 PM)GMDino Wrote: Between running to Cancun during the Texas emergency and this I am not sure how the gqp is going to convince voters that THEY are really the party of the working class. Kind of off topic, but the issue of the 'estate planning industry' drives me crazy. My parents have some cash. They worked for it, they invested wisely, they earned it. And like most decent folks, they want to pass it on. For several years they've tried to talk me into transferring my accounts to their guy because he's convinced them if I don't, estate taxes will eat up it all up. I've tried explaining to them that while they've got a decent nest egg, it's not so large the rest of the family has to take out accounts with this sack of crap to avoid taxes. RE: The GOP Response to Biden’s Rescue Act Is a Massive Gift to Wealthy Heirs - Goalpost - 03-13-2021 (03-13-2021, 01:51 AM)Benton Wrote: Kind of off topic, but the issue of the 'estate planning industry' drives me crazy. It probably varies by state. But in Ohio it's always best to have a will, but, one should also name beneficiaries within your accounts. It's really a simple step but naming a beneficiary(s) exempts taxes. A will by itself, and stuff can be taxed. Being tied together with the same financial guy shouldn't matter not one bit. A judge is the one who disperses the money, and the state of Ohio wont tax it if beneficiaries are named. RE: The GOP Response to Biden’s Rescue Act Is a Massive Gift to Wealthy Heirs - GMDino - 03-13-2021 (03-13-2021, 01:51 AM)Benton Wrote: Kind of off topic, but the issue of the 'estate planning industry' drives me crazy. Some planning is very beneficial. A will at minimum. In my case I am fortunate that my sister works for an attorney...and she and get along. So when the time comes we are already completely prepared. On my wife's side my nutty MIL and one set of in-laws is way over complicating things because she wants to treat "everyone fairly" and they want "what is coming to them". And trust me that is not much at all. Its a bigger problem because she wants my daughter and son in law to buy her house and most of us said great we don't want anything from the proceeds but my MIL doesn't care. She care thinks we all care about money as much as she does. Its sad and infuriating at the same time. RE: The GOP Response to Biden’s Rescue Act Is a Massive Gift to Wealthy Heirs - Benton - 03-13-2021 (03-13-2021, 07:56 AM)Goalpost Wrote: It probably varies by state. But in Ohio it's always best to have a will, but, one should also name beneficiaries within your accounts. It's really a simple step but naming a beneficiary(s) exempts taxes. A will by itself, and stuff can be taxed. Being tied together with the same financial guy shouldn't matter not one bit. A judge is the one who disperses the money, and the state of Ohio wont tax it if beneficiaries are named. (03-13-2021, 10:17 AM)GMDino Wrote: Some planning is very beneficial. A will at minimum. I'm not sure onall of Kentucky law, but, yeah, who manages their account has nothing to do on taxation. They do have a will, which should make things fairly simple when the time comes. Some larger tangible items are designated (farms, houses, etc), and the rest is just split. |