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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

[Reply]
ghak99 01:56 PM 05-04-2021
Originally Posted by BigBeauford:
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.
Single issue voter suddenly becomes not so single issue voter. :-)
[Reply]
vailpass 01:56 PM 05-04-2021
Originally Posted by BigBeauford:
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.
Spot on. And fuck you for working to make a life for yourselves and your children.
[Reply]
BigBeauford 02:06 PM 05-04-2021
Originally Posted by ghak99:
Single issue voter suddenly becomes not so single issue voter. :-)
Yeah I guess it's funny. Although I do understand nuance. I won't be voting for the weed candidate who applies a 100% tax rate to my income.
[Reply]
Loneiguana 02:10 PM 05-04-2021
Wow. I never knew I was in such amazing company here on CP.

About .07 percent of population will ever pay any estate tax, yet it seems at least 6 of em post here.

https://www.taxpolicycenter.org/brie...20estate%20tax.

Today, 99.8 percent of estates owe no estate tax at all, according to the Joint Committee on Taxation.[4] Only the estates of the wealthiest 0.2 percent of Americans — roughly 2 out of every 1,000 people who die — owe any estate tax. (See Figure 1.) This is because of the tax’s high exemption amount, which has jumped from $650,000 per person in 2001 to $5.49 million per person in 2017.

https://www.cbpp.org/research/federa...ral-estate-tax
[Reply]
Loneiguana 02:11 PM 05-04-2021
Originally Posted by vailpass:
You guys know Loonig is not worth your response.
Look at you running our mouth again while not responding again.
[Reply]
vailpass 02:12 PM 05-04-2021
Originally Posted by Loneiguana:
Look at you running our mouth again while not responding again.
Bitch please.
[Reply]
cosmo20002 02:21 PM 05-04-2021
Originally Posted by Loneiguana:
Wow. I never knew I was in such amazing company here on CP.

About .07 percent of population will ever pay any estate tax, yet it seems at least 6 of em post here.

https://www.taxpolicycenter.org/brie...20estate%20tax.

Today, 99.8 percent of estates owe no estate tax at all, according to the Joint Committee on Taxation.[4] Only the estates of the wealthiest 0.2 percent of Americans — roughly 2 out of every 1,000 people who die — owe any estate tax. (See Figure 1.) This is because of the tax’s high exemption amount, which has jumped from $650,000 per person in 2001 to $5.49 million per person in 2017.

https://www.cbpp.org/research/federa...ral-estate-tax
The exemption amount for 2021 is $11.7M for 1 person, double that for a married couple.
[Reply]
BigBeauford 02:25 PM 05-04-2021
Originally Posted by cosmo20002:
The exemption amount for 2021 is $11.7M for 1 person, double that for a married couple.
Well I guess I was wrong. I definitely won't have that. It would be nice if these conversations started with this, which is why he is a complete douche.
[Reply]
BucEyedPea 02:27 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?
But he criticizes Democrats as being communistic. :-)
[Reply]
Pennywise 02:34 PM 05-04-2021
Originally Posted by BigBeauford:
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.
Said no one ever. But it's a nice and charitable thing to say.
[Reply]
BucEyedPea 02:36 PM 05-04-2021
Originally Posted by Pennywise:
Said no one ever. But it's a nice and charitable thing to say.
Says a lot about Beau, the self-proclaimed libertarian. Can NOT make that up!
[Reply]
Loneiguana 03:09 PM 05-04-2021
Originally Posted by BigBeauford:
Well I guess I was wrong. I definitely won't have that. It would be nice if these conversations started with this, which is why he is a complete douche.
:-)

Look. I'll be nice here. You were the one complaining about something. Don't get angry at your own ignorance you didn't care about when you wanted to complain. Especially when this ignorance only helps drive a false narrative about an estate tax for the benefit of a select few.

No offense to you personally, but don't complain about something you at least aren't going to do the grunt work to look into.
[Reply]
Loneiguana 03:15 PM 05-04-2021
Originally Posted by cosmo20002:
The exemption amount for 2021 is $11.7M for 1 person, double that for a married couple.
The sad part is that a lot of Americans get worked up over the estate tax. I don't blame them much, because it gets screamed at them over and over again on conservative media. And then gets repeated a lot... again again.

And they should be worried about end of life care. All of us will be affected by it at some point.

The government isn't going to be the entity that stops your heirs from receiving what you hope they receive. Its going to be medical private companies.

Better sign your land over to your kids before the medical bills start coming.

Medical expenses is what we need to plan for to leave anything to the next generation.
[Reply]
vailpass 03:28 PM 05-04-2021
Originally Posted by cosmo20002:
The exemption amount for 2021 is $11.7M for 1 person, double that for a married couple.
So people shouldn’t care about a principle if it doesn’t affect them directly?
[Reply]
KC_Lee 03:37 PM 05-04-2021
Originally Posted by vailpass:
So people shouldn’t care about a principle if it doesn’t affect them directly?
But then when would people gaslight?
[Reply]
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