Quote:
Originally Posted by buffa98
The capital gains I might give you. But inheritance should be absolutely off limits!! I will give you the example that I am all too familier with. My Great grandparents were homesteaders. Got 1 quarter section for living and farming 160 acres of land for 5 years back in the 1880's.
Now fast forward 3 generations when My grandmother died the land was values at 2.5 Million(mind you it had expanded over the year to over 1000 acres) Now because of the value over half of it had to be sold to pay the tax on it!!
So I guess in some peoples eyes that is fair, But it sure as hell isn't in my families. So the people that get hurt are the ones that spend their whole life working for something only to have the Govt take half of it in the name of equality. HORSE SH**!!!
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Your grandmother must have died quite a while ago or else most of that $2.5 million would have been exempt from taxes, unless she had a very large estate in which case there should have been no need to sell the farm.