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Patteeu Memorial Political Forum>Millennials Will Become Richest Generation In American History
BucEyedPea 04:32 PM 05-03-2021
As Baby Boomers Transfer Over Their Wealth
So stop ye'r whinin'. You will be able to pay off your college debt afterall. :-)

A study shows that Millennials will hold five times as much wealth as they have today and the group is anticipated to inherit over $68 trillion from their Baby Boomer parents by the year 2030. This will represent one of the greatest wealth transfers in the modern times. ...

There are approximately 618,000 Millennial millionaires, according to WealthEngine data, as part of a study compiled by real estate firm Coldwell Banker. Millennial millionaires make up approximately 2% of the total U.S. millionaire population. The majority of Millennial millionaires have a net worth that ranges from $1 million to $2.49 million and fall between the ages of 34 and 37. Due to inheritances, trusts and estate planning, there will be a steady flow of Millennials getting very rich soon. Since the Millennial generation is smaller than the Boomers they're inheriting from, the wealth handed down will be highly concentrated. Ironically, this could contribute to increasing wealth inequality. [So will you still be for socialism or selfish and greedy capitalists?]

https://www.forbes.com/sites/jackkel...h=5fe9743a6c4b

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IowaHawkeyeChief 12:15 PM 05-04-2021
Originally Posted by POND_OF_RED:
Always this. I worked at a very nice lodge in Montana and I met tons of wealthy people. The ones that had it handed to them were always the worst. We need to make some sort of law that you can only inherit so much money and try to close the gap on all these trust fund babies. All the left over inheritance can go to closing our gap on the trillion dollar debt hole weve put ourself in. Its absolutely idiotic to have millionaires who have never worked for shit.
Whitefish? Great Falls?

They may not have worked for it, but at somepoint, someone in their family worked for it. It was also their wish to leave that to their kids, not the government. You change it as you wish, and behavior changes as well, mostly leading to less productivity.
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IowaHawkeyeChief 12:16 PM 05-04-2021
Originally Posted by Mr. Kotter:
We should feel sorry for some couple/single person inheriting nearly $11.7/$5.9 million tax-free, but who pay only on snything beyond that?

THAT is...so unfair! Imagine trying to survive on that for the rest of you life!

:-)
Yes, it's fucking stupid... It's not just cash sitting in the bank... assets will have to be sold, including businesses, farms and other real estate. Taxes were already paid on that money by the deceased.
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BigBeauford 12:22 PM 05-04-2021
Originally Posted by Mr. Kotter:
We should feel sorry for some couple/single person inheriting nearly $11.7/$5.9 million tax-free, but who pay only on snything beyond that?

THAT is...so unfair! Imagine trying to survive on that for the rest of you life!

:-)
I'm gonna diverge here though. Inheritance should have no taxes. That money has already cycled through the taxation beast once via income, property taxes, or capital gains. Taxing it again just because you are giving it to.someone else is wrong IMO.
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Discuss Thrower 12:23 PM 05-04-2021
Originally Posted by IowaHawkeyeChief:
Yes, it's ****ing stupid... It's not just cash sitting in the bank... assets will have to be sold, including businesses, farms and other real estate. Taxes were already paid on that money by the deceased.
This.

Family businesses (whatever ones weren't killed by Fauci's lockdown, of course) are going to be taken by the state since younger generations won't have the liquidity to pay off that huge tax bill.
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cosmo20002 12:29 PM 05-04-2021
Originally Posted by IowaHawkeyeChief:
Yes, it's ****ing stupid... It's not just cash sitting in the bank... assets will have to be sold, including businesses, farms and other real estate. Taxes were already paid on that money by the deceased.
Was it? Probably part of it, at least. Not necessarily on all of it.
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vailpass 01:03 PM 05-04-2021
Originally Posted by Mr. Kotter:
We should feel sorry for some couple/single person inheriting nearly $11.7/$5.9 million tax-free, but who pay only on snything beyond that?

THAT is...so unfair! Imagine trying to survive on that for the rest of you life!

:-)
You bust your ass to build something for your family and the government takes a big chunk of it. That seems right to you?
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ChiefsCountry 01:11 PM 05-04-2021
Originally Posted by vailpass:
You bust your ass to build something for your family and the government takes a big chunk of it. That seems right to you?
He takes a check from the government.
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ghak99 01:12 PM 05-04-2021
Originally Posted by Mr. Kotter:
We should feel sorry for some couple/single person inheriting nearly $11.7/$5.9 million tax-free, but who pay only on snything beyond that?

THAT is...so unfair! Imagine trying to survive on that for the rest of you life!

:-)
Go suck a dick, commie scum.
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Loneiguana 01:27 PM 05-04-2021
Originally Posted by BigBeauford:
I'm gonna diverge here though. Inheritance should have no taxes. That money has already cycled through the taxation beast once via income, property taxes, or capital gains. Taxing it again just because you are giving it to.someone else is wrong IMO.
We tax money/wealth when it changes hands. How or under what circumstances doesnt change that money is being transferred from one person to another.
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Loneiguana 01:28 PM 05-04-2021
I see the marks are eagerly defending a tax policy they or no one the know could ever be affected by.
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IowaHawkeyeChief 01:37 PM 05-04-2021
Originally Posted by Loneiguana:
I see the marks are eagerly defending a tax policy they or no one the know could ever be affected by.
Wrong
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ChiefsCountry 01:38 PM 05-04-2021
Originally Posted by Loneiguana:
I see the marks are eagerly defending a tax policy they or no one the know could ever be affected by.
I'm affected by it you fucking loser.
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BigBeauford 01:50 PM 05-04-2021
Originally Posted by Loneiguana:
I see the marks are eagerly defending a tax policy they or no one the know could ever be affected by.
False. I plan on leaving something for my kids. Before I'm dead, I'll end up with 3 160 acre plots of family owned land, and probably a lot of money from my wife and I making a lot of it, and spending much less of what we make. I think it's important to leave your kids something to start their own lives with what I would consider enough so they do something, but not so much that they do nothing (hello Warren Buffet). I certainly won't though if people like you think it's no big deal to take a huge slice of it.
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vailpass 01:52 PM 05-04-2021
You guys know Loonig is not worth your response.
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BigBeauford 01:54 PM 05-04-2021
Originally Posted by vailpass:
You guys know Loonig is not worth your response.
I know but when he isn't making sense, and he does have decent points more than people give him credit for, he is making asinine and emotional arguments about things he doesn't understand that drown out the good stuff. And he is a major twat about it.
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