Mamdani in the News

BartenderElite said:
I understand and empathize w/ arguments against the estate tax. People earn that money. It makes sense that they should be able to pass it on however they want.

However, the gap between rich & poor is eternally growing, and is at absurd levels in 2026.

The latter simply isn't sustainable.
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Problem seems to be worse in democrat ren cities.
 
BartenderElite said:
I understand and empathize w/ arguments against the estate tax. People earn that money. It makes sense that they should be able to pass it on however they want.

However, the gap between rich & poor is eternally growing, and is at absurd levels in 2026.

The latter simply isn't sustainable.
Click to expand...
Lol. Im not sure you understand. The estate tax is not the issue here.

Estate Tax exemption lowered from 7 million to 750,000

This is the issue.

750,000 is maybe a 1 br apartment in New York. This is not "rich" this is barely middle class. What will happen here is once mom dies the kids will have no choice but to sell the apartment.

Anyway we will see what the effects of this will be :)
 
FastLane said:
Estate taxes tax accumulated wealth that has already been taxed.

I have friends that were partying when I was studying and paying tuition should they benefit from my estate that has already been taxed??
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"Already been taxed" at minuscule levels, the source of the problem. We've been lowering rates on the wealthy for decades. "The top rate was 91 percent in the early 1960s before the Kennedy/Johnson tax cut dropped it to 70 percent. In 1981, the first Reagan tax cut further reduced the top rate to 50 percent, and the 1986 tax reform brought it down to 28 percent."
 
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