Should they remove the estate tax or the death tax?

[Pulgasari]

Originally Posted by icedwards [You must be logged in to view images. Log in or Register.]

The estate tax in the US doesn't even kick in until assets exceed $11.7 million, not a single one of you nerds will ever inherit or leave that much to be inherited.

im gonna rob graves

[Jibartik]

See, be creative, think outside of the box(by digging up and cutting into one), and work for it, and anyone can make money easily as a capitalist!

[Patriam1066]

Originally Posted by icedwards [You must be logged in to view images. Log in or Register.]

The estate tax in the US doesn't even kick in until assets exceed $11.7 million, not a single one of you nerds will ever inherit or leave that much to be inherited.

Two people married making $60k each saving 40 years in index funds would have more than that

I am worth several multiples of that and am a brown immigrant engineer from Islamistan

[Jibartik]

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[icedwards]

Originally Posted by Patriam1066 [You must be logged in to view images. Log in or Register.]

Two people married making $60k each saving 40 years in index funds would have more than that

I am worth several multiples of that and am a brown immigrant engineer from Islamistan

I work in wealth management and previously was a tax accountant for a mid-size public accounting firm. Saying something incredibly dumb like "Two people married making $60k each saving 40 years in index funds would have more than that" makes me think you're lying about "I am worth several multiples of that".

[Jibartik]

I like to imagine you're a dog wearing sunglasses turning to the camera like jim and saying that.

[Lune]

Originally Posted by Jibartik [You must be logged in to view images. Log in or Register.]

I like to imagine you're a dog wearing sunglasses turning to the camera like jim and saying that.

lol

[Gatordash]

Originally Posted by icedwards [You must be logged in to view images. Log in or Register.]

I work in wealth management and previously was a tax accountant for a mid-size public accounting firm. Saying something incredibly dumb like "Two people married making $60k each saving 40 years in index funds would have more than that" makes me think you're lying about "I am worth several multiples of that".

Its closer to 7-8 million but add in other assets like homes and the way inflation is going you'd get close. I think a lot more people are affected by estate taxes than you are giving credit for.

[icedwards]

Originally Posted by Jibartik [You must be logged in to view images. Log in or Register.]

I like to imagine you're a dog wearing sunglasses turning to the camera like jim and saying that.

Also true

[icedwards]

Originally Posted by Gatordash [You must be logged in to view images. Log in or Register.]

Its closer to 7-8 million but add in other assets like homes and the way inflation is going you'd get close. I think a lot more people are affected by estate taxes than you are giving credit for.

Alright.

$120,000 a year in income taxed at let's say 35% with a conservative $45,000 of expenses a year leaves $33,000 to be invested a year. Compounded at 5% annually, that's a NFA value at year 40 of $3.98 million.

Where are you pulling your numbers out of your ass?