Let me get this straight

[robbedagain]

Same Fauci who admitted lying about the need for masks in March? Wonder how many deaths were contributed to his lies?

Bec back in March they were trying to fig it out. Did u know everything in your first day of work?? No

 

[delldude]

Bec back in March they were trying to fig it out. Did u know everything in your first day of work?? No

So why did Fauci admit in late 2020 that he lied (in March) to the American people about masks being needed.....?

After all, this is the esteemed expert, Dr Anthony Fauci.

Fauci advised during the Ebola and Swine flu pandemics under Obama, so it wasn't a learning experience.

And yes, I knew everything on my first day at work, as I was a graduate of the Pittsburgh Institute of Aeronautics.

 

[KCFlyer]

So why did Fauci admit in late 2020 that he lied (in March) to the American people about masks being needed.....?

Unlike Trump, who NEVER admitted he was wrong and continued to "downplay" it for MONTHS after he KNEW in February (and told Woodward) that it was "deadly stuff". In March, Fauci was man enough to say "I was wrong". But Trump...who knew MORE THAN FAUCI at that time said "it's no worse that the flu". Trump never admitted that he lied to the American people about Covid for MONTHS...and in his typical "us vs them" manner, continued to refuse to wear a mask...because Fauci said to wear a mask. And somehow you question Fauci and not Trump.

Oh...and not to be too picky, but between the two men, only one of them contracted Covid.

 

[Insp4]

Hey! You voted for him!........ Or did you?
Did You Know?
Yes.... he really does plan to pass this. Kills middle class people. Those same people who voted him in.

Did you know Biden wants to get rid of something called "stepped up basis"??? How does this affect you!? When your parents pass and leave you the family house normally you would inherit that property at what it is worth today. If you were to sell that house you would only pay taxes on the gain from what it is worth today and what it sells for. If Biden does away with "stepped up basis" you will inherit the property for what your parents paid for the property. If you decide to sell you will pay taxes on the difference between the original purchase price and what it sells for today. Our kids need to be aware.
Here is what this looks like!
Current Policy
Inherited House at Current Value - $200,000
Sells for $205,000
Taxable income = $5000
Taxes Due - 20% of $5000 = $1000
Profit to you = $204,000
Biden Policy
Inherited House at original purchase price - $40,000
Sells for $205,000
Taxable income = $165,000
Taxes Due - 20% of $165,000 = $33,000
Profit to you = $172,000
If your parent were to have sold this property prior to passing they would have paid no taxes because it was their primary residence.
So much for helping the middle class get ahead.
***My educated guess would be that at least 95% of Americans don’t even know Biden has proposed this. We are talking tens of thousands of more tax dollars for the average sold after inheritance! Wow, google “Biden stepped up basis” and educate yourself because this is a biggie!
My guess is they will remove it from Farm and Ranch land as well.. So here it comes...We were warned...I guess you can lead a horse to water but you can't make it drink..

 

[KCFlyer]

Hey! You voted for him!........ Or did you?
Did You Know?
Yes.... he really does plan to pass this. Kills middle class people. Those same people who voted him in.

Did you know Biden wants to get rid of something called "stepped up basis"??? How does this affect you!? When your parents pass and leave you the family house normally you would inherit that property at what it is worth today. If you were to sell that house you would only pay taxes on the gain from what it is worth today and what it sells for. If Biden does away with "stepped up basis" you will inherit the property for what your parents paid for the property. If you decide to sell you will pay taxes on the difference between the original purchase price and what it sells for today. Our kids need to be aware.
Here is what this looks like!
Current Policy
Inherited House at Current Value - $200,000
Sells for $205,000
Taxable income = $5000
Taxes Due - 20% of $5000 = $1000
Profit to you = $204,000
Biden Policy
Inherited House at original purchase price - $40,000
Sells for $205,000
Taxable income = $165,000
Taxes Due - 20% of $165,000 = $33,000
Profit to you = $172,000
If your parent were to have sold this property prior to passing they would have paid no taxes because it was their primary residence.
So much for helping the middle class get ahead.
***My educated guess would be that at least 95% of Americans don’t even know Biden has proposed this. We are talking tens of thousands of more tax dollars for the average sold after inheritance! Wow, google “Biden stepped up basis” and educate yourself because this is a biggie!
My guess is they will remove it from Farm and Ranch land as well.. So here it comes...We were warned...I guess you can lead a horse to water but you can't make it drink..

Well.there's a couple of tings here. In order for that to happen, it would have to get past Congress. How many Republicans will vote for that? Secondly - you're right...if the parents would have sold the house prior to dying, they would pay no taxes because it was their primary residence. Now....you could avoid that if you live in the house for two years. But sometimes that's not possible. But let's look and see how "hurt" you are. ...

Sadly, your parents pass away. They have a house they bought in 1968 and paid $40,000 for it. During that time, they put on a new roof. And during that time, they had to replace the dad gum HVAC System. And sometime in there they remodeled the kitchen. And over time they had to replace those old windows. And they built a deck. And they installed a sprinkler system. All of those are considered improvements to the home which increase it's value. So lets say that over that 40 year time, they spend $50,000 in improvements. That's a very low estimate by the way. That is added to the basis. In reality all that could cost over $100,000. But we will go with the low estimate. So now the cost basis is $90,000. It sells for $205,000, which leaves a taxable amount of 115,000. Capital gains on that is 23,000,So your profit is $182,000. That's still terrible...why you are still suffering a "loss" of $23,000. But the balance in your checking account is still $182,000 MORE than it was before your parents died.

Now..I'd be outraged if mom and pop sold the house and had to pay $23,000 in taxes...but they didn't. YOU had to pay $23,000 in taxes, but....lucky you....there was this magical $205,000 in your checking account that wasn't there when your parents were alive. So are you really "hurt"? FWIW, my parents passed in the early 2000's, but if I could have them back for a measly 23 grand, I'd jump at the chance. Hell....I'd give up every penny of my "profit" (that I did absolutely NOTHING to earn) if it could bring them back. But I can't. And I'm still $182,000 better off than I was. And my only real "hurt" is that I don't have my parents anymore.

 

[robbedagain]

Unlike Trump, who NEVER admitted he was wrong and continued to "downplay" it for MONTHS after he KNEW in February (and told Woodward) that it was "deadly stuff". In March, Fauci was man enough to say "I was wrong". But Trump...who knew MORE THAN FAUCI at that time said "it's no worse that the flu". Trump never admitted that he lied to the American people about Covid for MONTHS...and in his typical "us vs them" manner, continued to refuse to wear a mask...because Fauci said to wear a mask. And somehow you question Fauci and not Trump.

Oh...and not to be too picky, but between the two men, only one of them contracted Covid.

Or did he really contract it or did he have just a routine upper respiratory infection. I think it was a $h!t show he put on n then have that clown doctor lie bout it

 

[Insp4]

Well.there's a couple of tings here. In order for that to happen, it would have to get past Congress. How many Republicans will vote for that? Secondly - you're right...if the parents would have sold the house prior to dying, they would pay no taxes because it was their primary residence. Now....you could avoid that if you live in the house for two years. But sometimes that's not possible. But let's look and see how "hurt" you are. ...

Sadly, your parents pass away. They have a house they bought in 1968 and paid $40,000 for it. During that time, they put on a new roof. And during that time, they had to replace the dad gum HVAC System. And sometime in there they remodeled the kitchen. And over time they had to replace those old windows. And they built a deck. And they installed a sprinkler system. All of those are considered improvements to the home which increase it's value. So lets say that over that 40 year time, they spend $50,000 in improvements. That's a very low estimate by the way. That is added to the basis. In reality all that could cost over $100,000. But we will go with the low estimate. So now the cost basis is $90,000. It sells for $205,000, which leaves a taxable amount of 115,000. Capital gains on that is 23,000,So your profit is $182,000. That's still terrible...why you are still suffering a "loss" of $23,000. But the balance in your checking account is still $182,000 MORE than it was before your parents died.

Now..I'd be outraged if mom and pop sold the house and had to pay $23,000 in taxes...but they didn't. YOU had to pay $23,000 in taxes, but....lucky you....there was this magical $205,000 in your checking account that wasn't there when your parents were alive. So are you really "hurt"? FWIW, my parents passed in the early 2000's, but if I could have them back for a measly 23 grand, I'd jump at the chance. Hell....I'd give up every penny of my "profit" (that I did absolutely NOTHING to earn) if it could bring them back. But I can't. And I'm still $182,000 better off than I was.

........... As you said, it would have to get through congress. But it would seem you are good with it?........ How about not screwing with it to begin with?

 

[KCFlyer]

........... As you said, it would have to get through congress. But it would seem you are good with it?........ How about not screwing with it to begin with?

You posted some FUD that this was going to "hurt" 95% of Americans. But in order to get "hurt", their parents have to die. I'm not sure about you, but I didn't much care about the "profit" I got when my parents died. I would much rather have had them around so that they could enjoy the fruits of their labor. But the alarmist intent is to make it look like not only do you lose your parents............YOU have to pay tax on it. As if it's going to hurt the kids college fund or make us cancel our vacation plans for you to come up with money you don't have to pay taxes. . They kind of gloss over that you keep considerably more. And again....I would have given up every penny of my "profit" if I could just have them back.

 

[Insp4]

Right! You would rather have your parents around than money, I get it! ........ Reality check here K.C.! We are all going to die! You! Me! everyone!....... Even our parents. Ask them how they feel about taxing their home after they are gone. What the liberals are against, is an financially independent middle class, because the more well off they are, the less they need a government to provide for their needs, the less they have control over them.and are doing everything in their power to ,keep them in check.aka putting 11,000 worker out of work with one pen stroke!

 

[KCFlyer]

Right! You would rather have your parents around than money, I get it! ........ Reality check here K.C.! We are all going to die! You! Me! everyone!....... Even our parents. Ask them how they feel about taxing their home after they are gone. What the liberals are against, is an financially independent middle class, because the more well off they are, the less they need a government to provide for their needs, the less they have control over them.and are doing everything in their power to ,keep them in check.aka putting 11,000 worker out of work with one pen stroke!

YOu know, I don't think they'd mind if they taxed their house. You know why? Because they are dead. Now...I kind of look at it like this - If I had $1,000 in my checking account and my dad had a house that he bought for 60,000 (he did) and it sold for $350,000 (it did), and he paid for all of that and he put $100,000 in improvements in it himself, and I paid nothing towards them , I think if he'd heard me bitching about $30,000 when my bank account now had $311.000 in it, he'd tell me to shut up and he would have wished he'd written me out of the will.

As for those 11.000 temporary jobs. If Trump were reelected, they would be in tall cotton until 2022. After that, the Keystone pipeline will have 35 people working on it. 10.965 would be out of a job.

 

[Insp4]

YOu know, I don't think they'd mind if they taxed their house. You know why? Because they are dead. Now...I kind of look at it like this - If I had $1,000 in my checking account and my dad had a house that he bought for 60,000 (he did) and it sold for $350,000 (it did), and he paid for all of that and he put $100,000 in improvements in it himself, and I paid nothing towards them , I think if he'd heard me bitching about $30,000 when my bank account now had $311.000 in it, he'd tell me to shut up and he would have wished he'd written me out of the will.

As for those 11.000 temporary jobs. If Trump were reelected, they would be in tall cotton until 2022. After that, the Keystone pipeline will have 35 people working on it. 10.965 would be out of a job.

Well KC, I'm glad you would be OK with it! But I really don't think that you would be the majority opinion on the matter! As for the 11,000, That's just a start! Mark my word, more to come!......... Oh, just as a side note, now that Trump is gone, keep an eye out for possible war between Iran, and Israel. Also China is making moves against Taiwan! They are taking measure of an old friend in Biden, and he's coming up short!

 

[KCFlyer]

Well KC, I'm glad you would be OK with it! But I really don't think that you would be the majority opinion on the matter! As for the 11,000, That's just a start! Mark my word, more to come!......... Oh, just as a side note, now that Trump is gone, keep an eye out for possible war between Iran, and Israel.Also China is making moves against Taiwan! They are taking measure of an old friend in Biden, and he's coming up short!

IF you had a dollar and I gave you 300,000 dollars, and you didn't have to do a damn thing to earn it.. if the government took 30,000, would you be happy that you had $270,000 that you didn't have, or would you ***** because you could have had $300,000? Of course there is a way for families to avoid being ripped off like this....tell your parents that to maximize the money in their estate, name a charity as the sole beneficiary. Then you get nothing and they don't have to worry about the taxes. You COULD have netted $270k for doing nothing more than being their kid. But because the $30k in taxes were going to "hurt" you, your parents can help save you the hurt and just not name you in the will.

 

[Insp4]

"Of course there is a way for families to avoid being ripped off like this", Than you agree it's a 'rip off'..

 

[KCFlyer]

"Of course there is a way for families to avoid being ripped off like this", Than you agree it's a 'rip off'..

There is...if you are worried about the sale of your parents house being taxed, then have them change the will and give it to a not for profit charity for them to sell. Of course, while the estate will save that $30k...you'll be giving up $270K. But it's all good...it's going to a good cause.

 

[Insp4]

Oh there are always ways to get around stupid crap like this. But giving it to a charity is not on the list unless your kids are well off. But what this is designed to do is keep the middle class in check. The more people become financially independent, the less they need from big government.