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#inheritance

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jcriecke<p>The median US household income is $81k. At a conservative 4% return you can earn that on $2M. Therefore, inheritance tax should start at $2M and rise steeply (21%, per $2M, imo) for every multiple of $81k you earn. You're already inheriting enough to live better than the median household while doing zero work, and if your parents want to transfer more wealth to you then they need to work towards raising the median income instead of hoarding assets. <a href="https://frontrange.co/tags/incometax" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>incometax</span></a> <a href="https://frontrange.co/tags/inheritance" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>inheritance</span></a> <a href="https://frontrange.co/tags/economics" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>economics</span></a> <a href="https://frontrange.co/tags/uspol" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>uspol</span></a></p>
Europe Says<p><a href="https://www.europesays.com/2241300/" rel="nofollow noopener" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="">europesays.com/2241300/</span><span class="invisible"></span></a> Another economist warns about intergenerational wealth in Australia <a href="https://pubeurope.com/tags/business" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>business</span></a> <a href="https://pubeurope.com/tags/Economy" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Economy</span></a> <a href="https://pubeurope.com/tags/GuyDebelle" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>GuyDebelle</span></a> <a href="https://pubeurope.com/tags/inheritance" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>inheritance</span></a> <a href="https://pubeurope.com/tags/KenHenry" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>KenHenry</span></a> <a href="https://pubeurope.com/tags/PropertyPrices" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>PropertyPrices</span></a> <a href="https://pubeurope.com/tags/ReserveBankOfAustralia" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>ReserveBankOfAustralia</span></a> <a href="https://pubeurope.com/tags/RetirementPlanning" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>RetirementPlanning</span></a> <a href="https://pubeurope.com/tags/WealthDistribution" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>WealthDistribution</span></a> <a href="https://pubeurope.com/tags/WealthTransfer" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>WealthTransfer</span></a></p>
Europe Says<p><a href="https://www.europesays.com/2236193/" rel="nofollow noopener" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="">europesays.com/2236193/</span><span class="invisible"></span></a> Young Lady Inherited A Huge Amount Of Money From Her Birth Mother, But Her Adopted Siblings Want Her To Split The Funds With Them » TwistedSifter <a href="https://pubeurope.com/tags/adopted" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>adopted</span></a> <a href="https://pubeurope.com/tags/aita" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>aita</span></a> <a href="https://pubeurope.com/tags/BiologicalMother" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>BiologicalMother</span></a> <a href="https://pubeurope.com/tags/business" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>business</span></a> <a href="https://pubeurope.com/tags/inheritance" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>inheritance</span></a> <a href="https://pubeurope.com/tags/money" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>money</span></a> <a href="https://pubeurope.com/tags/PersonalFinance" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>PersonalFinance</span></a> <a href="https://pubeurope.com/tags/picture" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>picture</span></a> <a href="https://pubeurope.com/tags/reddit" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>reddit</span></a> <a href="https://pubeurope.com/tags/siblings" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>siblings</span></a> <a href="https://pubeurope.com/tags/top" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>top</span></a></p>
サファイア・ネオ<p>Renunciation of property inheritance<br>As some of you may already know, vacant houses have become a social problem in Japan.</p><p><a href="https://www.pixiv.net/novel/show.php?id=23844384" rel="nofollow noopener" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">pixiv.net/novel/show.php?id=23</span><span class="invisible">844384</span></a></p><p>&lt;&gt;</p><p><a href="https://mastodon.social/tags/renunciation" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>renunciation</span></a> <a href="https://mastodon.social/tags/property" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>property</span></a> <a href="https://mastodon.social/tags/inheritance" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>inheritance</span></a> <a href="https://mastodon.social/tags/already" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>already</span></a> <a href="https://mastodon.social/tags/vacant" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>vacant</span></a> <a href="https://mastodon.social/tags/house" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>house</span></a> <a href="https://mastodon.social/tags/problem" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>problem</span></a> <a href="https://mastodon.social/tags/Japan" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Japan</span></a> <a href="https://mastodon.social/tags/abandoned" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>abandoned</span></a> <a href="https://mastodon.social/tags/across" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>across</span></a> <a href="https://mastodon.social/tags/country" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>country</span></a> <a href="https://mastodon.social/tags/unattended" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>unattended</span></a> <a href="https://mastodon.social/tags/dangerous" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>dangerous</span></a> <a href="https://mastodon.social/tags/demolished" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>demolished</span></a> <a href="https://mastodon.social/tags/responsibly" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>responsibly</span></a> <a href="https://mastodon.social/tags/situation" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>situation</span></a> <a href="https://mastodon.social/tags/cases" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>cases</span></a> <a href="https://mastodon.social/tags/people" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>people</span></a> <a href="https://mastodon.social/tags/excuses" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>excuses</span></a> <a href="https://mastodon.social/tags/enter" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>enter</span></a> <a href="https://mastodon.social/tags/permission" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>permission</span></a> <a href="https://mastodon.social/tags/ridiculous" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>ridiculous</span></a> <a href="https://mastodon.social/tags/stories" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>stories</span></a> <a href="https://mastodon.social/tags/ownership" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>ownership</span></a> <a href="https://mastodon.social/tags/malicious" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>malicious</span></a> <a href="https://mastodon.social/tags/family" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>family</span></a> <a href="https://mastodon.social/tags/upervisory" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>upervisory</span></a></p>
Europe Says<p><a href="https://www.europesays.com/2200339/" rel="nofollow noopener" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="">europesays.com/2200339/</span><span class="invisible"></span></a> Why you might want to walk away from your inheritance <a href="https://pubeurope.com/tags/business" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>business</span></a> <a href="https://pubeurope.com/tags/courts" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>courts</span></a> <a href="https://pubeurope.com/tags/estate" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>estate</span></a> <a href="https://pubeurope.com/tags/EstatePlanning" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>EstatePlanning</span></a> <a href="https://pubeurope.com/tags/Explainer" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Explainer</span></a> <a href="https://pubeurope.com/tags/financial" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>financial</span></a> <a href="https://pubeurope.com/tags/FinancialPlanning" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>FinancialPlanning</span></a> <a href="https://pubeurope.com/tags/inheritance" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>inheritance</span></a> <a href="https://pubeurope.com/tags/InheritanceU0026EstatePlanning" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>InheritanceU0026EstatePlanning</span></a> <a href="https://pubeurope.com/tags/Know" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Know</span></a> <a href="https://pubeurope.com/tags/living" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>living</span></a> <a href="https://pubeurope.com/tags/LivingWills" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>LivingWills</span></a> <a href="https://pubeurope.com/tags/Modular" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Modular</span></a> <a href="https://pubeurope.com/tags/ModularStory" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>ModularStory</span></a> <a href="https://pubeurope.com/tags/Negative" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Negative</span></a> <a href="https://pubeurope.com/tags/not" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>not</span></a> <a href="https://pubeurope.com/tags/Overall" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Overall</span></a> <a href="https://pubeurope.com/tags/OverallNegative" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>OverallNegative</span></a> <a href="https://pubeurope.com/tags/PersonalFinance" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>PersonalFinance</span></a> <a href="https://pubeurope.com/tags/planning" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>planning</span></a> <a href="https://pubeurope.com/tags/Point" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Point</span></a> <a href="https://pubeurope.com/tags/Probate" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Probate</span></a> <a href="https://pubeurope.com/tags/ProbateCourts" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>ProbateCourts</span></a> <a href="https://pubeurope.com/tags/story" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>story</span></a> <a href="https://pubeurope.com/tags/the" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>the</span></a> <a href="https://pubeurope.com/tags/TO" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>TO</span></a> <a href="https://pubeurope.com/tags/ToThePoint" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>ToThePoint</span></a> <a href="https://pubeurope.com/tags/TTP" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>TTP</span></a> <a href="https://pubeurope.com/tags/TTPExplainerNotVisual" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>TTPExplainerNotVisual</span></a> <a href="https://pubeurope.com/tags/TTPWhatWeKnow" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>TTPWhatWeKnow</span></a> <a href="https://pubeurope.com/tags/u0026" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>u0026</span></a> <a href="https://pubeurope.com/tags/visual" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>visual</span></a> <a href="https://pubeurope.com/tags/We" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>We</span></a> <a href="https://pubeurope.com/tags/what" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>what</span></a> <a href="https://pubeurope.com/tags/wills" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>wills</span></a></p>
WIST Quotations<p><a href="https://wist.info/roosevelt-theodore/18337/" rel="nofollow noopener" target="_blank">A quotation from <b>Teddy Roosevelt</b></a></p><blockquote>No man should receive a dollar unless that dollar has been fairly earned. Every dollar received should represent a dollar’s worth of service rendered — not gambling in stocks, but service rendered. The really big fortune, the swollen fortune, by the mere fact of its size acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. Therefore, I believe in a graduated income tax on big fortunes, and in another tax which is far more easily collected and far more effective — a graduated inheritance tax on big fortunes, properly safeguarded against evasion and increasing rapidly in amount with the size of the estate.</blockquote><p><b>Theodore Roosevelt</b> (1858-1919) American politician, statesman, conservationist, writer, US President (1901-1909)<br>Speech (1910-08-31), “The New Nationalism,” John Brown Memorial Park dedication, Osawatomie, Kansas</p> <p>Sourcing, notes: <a href="https://wist.info/roosevelt-theodore/18337/" rel="nofollow noopener" target="_blank">wist.info/roosevelt-theodore/1…</a></p><p><a href="https://my-place.social/search?tag=quote" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>quote</span></a> <a href="https://my-place.social/search?tag=quotes" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>quotes</span></a> <a href="https://my-place.social/search?tag=quotation" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>quotation</span></a> <a href="https://my-place.social/search?tag=qotd" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>qotd</span></a> <a href="https://my-place.social/search?tag=tr" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>tr</span></a> <a href="https://my-place.social/search?tag=teddyroosevelt" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>teddyroosevelt</span></a> <a href="https://my-place.social/search?tag=theodoreroosevelt" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>theodoreroosevelt</span></a> <a href="https://my-place.social/search?tag=deservedness" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>deservedness</span></a> <a href="https://my-place.social/search?tag=dividends" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>dividends</span></a> <a href="https://my-place.social/search?tag=earnings" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>earnings</span></a> <a href="https://my-place.social/search?tag=fortune" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>fortune</span></a> <a href="https://my-place.social/search?tag=incometax" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>incometax</span></a> <a href="https://my-place.social/search?tag=inheritance" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>inheritance</span></a> <a href="https://my-place.social/search?tag=inheritancetax" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>inheritancetax</span></a> <a href="https://my-place.social/search?tag=interest" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>interest</span></a> <a href="https://my-place.social/search?tag=investment" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>investment</span></a> <a href="https://my-place.social/search?tag=labor" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>labor</span></a> <a href="https://my-place.social/search?tag=oligarchy" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>oligarchy</span></a> <a href="https://my-place.social/search?tag=onepercent" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>onepercent</span></a> <a href="https://my-place.social/search?tag=service" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>service</span></a> <a href="https://my-place.social/search?tag=wealth" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>wealth</span></a> <a href="https://my-place.social/search?tag=work" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>work</span></a> <a href="https://my-place.social/search?tag=taxation" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>taxation</span></a></p>
Europe Says<p><a href="https://www.europesays.com/2084863/" rel="nofollow noopener" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="">europesays.com/2084863/</span><span class="invisible"></span></a> ‘Money and grief bring out the worst in people’ – The Irish Times <a href="https://pubeurope.com/tags/business" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>business</span></a> <a href="https://pubeurope.com/tags/inheritance" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>inheritance</span></a> <a href="https://pubeurope.com/tags/PersonalFinance" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>PersonalFinance</span></a></p>
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Day 22 cont 💰💰💰💰💰🏘️🏠🏡🏠🏠🏡🏡🏡

“Advocates wonder why the new commitments have targeted a small number of first home buyers over the larger number of lower-income people living in #RentalStress. And industry experts warn the situation has become so dire, they are only seeing #DINKS (dual income, no kids) or people with #inheritance make it on to the #PropertyLadder.”

#AusPol / #LNP / #Labor / #Liberal / #Nationals / #HousingEmergency / #Housing / #renting <theguardian.com/australia-news>

The Guardian · Melbourne nurse Sarah is trying to save for a home near work – neither party’s housing plan will get her any closerBy Cait Kelly

The issue of 'fiscal drag' (income tax thresholds not keeping up with average wage rises & thereby moving more people into higher tax brackets) would also seem to be having an effect on inheritance tax.... but here we might want to argue that unlike income tax where fiscal drag seems to be non-progressive (by requiring the lower, but still well paid, to pay more tax), any fiscal drag in IHT might be seen as a reasonable response to the UK's problem with wealth inequality?

Hmmm.... some leading supermarkets have come out in support of the National Farmers' Union demand that changes in inheritance tax as they effect farmers should be pause while the impact of implementation is assessed.

Now, the Q. is: is this good faith support, or a bit of distraction politics to lead farmers' supporters away from continuing problem with supermarkets domination of the food system & their aggressive treatment of their supplies?

Just asking....

We know that parents wealth is a key to their children's economic prospects, but it works in different ways:

for the aspirant but poor parents its about helping your children into better work, for the middle class its getting your children into better education than you got yourself... but for the richest in society, its just about the money; handing your children money ends up being the surest way of cementing their privileged position.

#inequality #inheritance

theguardian.com/commentisfree/

The Guardian · Wealthy parents’ greatest asset is the assets they will pass onBy Torsten Bell

Let me tell the story of my “#math #pencil”.

My dad was a bit of a draftsman in his day. He was a builder and so he had some nice mechanical pencils and straight edges. At some point in high school he gave me one of his nice mechanical pencils. 0.5mm lead. Nice grip.

Throughout my high school career I used it in math class (and sciences like physics and chemistry) because it was nice and it was comfortable.

Fast forward to college and the same thing: I used it in all my math classes. It had become my “math pencil.” All my mathematical knowledge (sparse as it is) is in that pencil.

This is my middle boy’s first semester at #college and I bequeathed to him the math pencil as he packed for college. He may very well end up a math minor. I just got an update and he’s getting outstanding grades in math. Linear algebra final coming up on Tuesday.

It was just an ordinary pencil. But through sorta habit and happenstance, and some good luck I kept it 30 years to hand it down.

My own path to college wasn’t great. Pretty much whatever was in the back of my dad’s Buick when I went to college is all I carried from childhood to adulthood. (That’s another story) but the pencil is one of those things and it was great to pass it on.
#university #inheritance #family

''if the farmers had their way, they would be able to pass on their estates to their children, who could then flog it off and receive the entire thing tax-free, whereas if somebody had, for example, owned a very large house in London, which could be the case as an accident of fortune, then those children who inherit that will have seen the estate diminished by inheritance tax. So, it is privilege that the farmers are asking for"
taxresearch.org.uk/Blog/2024/1
#ukpolitics #inheritance #tax

Funding the FutureThe stock market is failing according to the CBI. So why don’t we just let it go?I posted this on Twitter this morning: https://twitter.com/RichardJMurphy/status/1942861045426516103 My point is serious. The CBI is saying that the situation with regard to the UK stock exchange is getting desperate, because it is losing out to overseas markets and not attracting sufficient business. The question that needs to be asked is, why is that?...

Idea for New series: Jeremy Clarkson rouge defender of farmers everywhere- He’s a maverick who get things done and will defend farmers at any cost …. Well except the cost of paying tax obvs 

#brexit #tory #tories #toryscum #politics #ukpolitics #bbc #news #EU #nhs #costofliving #Labour #keirstarmer #Starmer #labourparty #RejoinEU #ToryCorruption #standuptoracism #KemiBadenoch #rachelreeves #farmers #jeremyclarkson #clarksontwat #inheritancetax #inheritance