Post

Conversation

James Medlock
@jdcmedlock
We effectively don't have an estate tax anymore.
Quote
Ricco
@riccoja
Replying to @riccoja
One thing you can do with the SCF microdata is reason about estate tax counterfactuals. These days, the population is old and asset prices are high. A dwindling fraction of that wealth, though, is potentially subject to the estate tax, due to repeated cuts.
Image
16.8K
Views
View quotes
David Watson 🥑
Post your reply

JTD941
@jtd941
I mean why should we have an estate tax? Much of that money was already taxed when the bequeathor earned it during her/his lifetime.
110
dripola brokǐc
@cLIntCapelaFC
James, curious if you think we should eliminate the step-up basis for capital gains of stocks passed down to heirs after a death? Or some other solution to that loophole? I think just kill the step-up entirely but you know more on this stuff— curious your thoughts
9
Somsai
@somsai
It would be a lot better than taxing capital gains of billionaires. Close the estate and gift thingies too. We should all pay capital gains on it if it appreciated.
78
Cameron O’Leary
@camtrakacela
Step up in basis is also meaningfully more impactful when people have index funds. There is no need to swallow the frog on taxes if the investment automatically rebalances itself with no tax incidence.
114

Discover more

Sourced from across X
Jeremiah Johnson 🌐
@JeremiahDJohns
This is one of the most cowardly, shameful acts in modern American history. But it's only possible because Congress, for decades, has been giving up their constitutional authority to let the President do whatever he wants. STOP GIVING THE EXECUTIVE POWERS
Quote
The Associated Press
@AP
BREAKING: President Trump puts new Russia sanctions passed by Congress on hold, saying a waiver is in the U.S. national interest. apnews.com/article/russia
20K
sam
@sam_d_1995
extremely common congestion pricing W kinda funny how everyone freaked out over congestion pricing before it went into effect, but now that it’s working, everyone has moved on and it’s quietly reducing congestion & making the subway better
Quote
Governor Hochul Press Office
@NYGovPress
THIS HOLE IN THE GROUND WILL BECOME A BRAND NEW ELEVATOR THANKS TO CONGESTION PRICING
Image
35K
Hunter📈🌈📊
@StatisticUrban
Thomas Jefferson explicitly wrote that the founding generation intended religious freedom to protect people of all faiths, not just Christians. He specifically named Muslims and Hindus as an example.
Image
Quote
Rubicon Crosser 🌲
@RubiconCrosser1
Replying to @RubiconCrosser1
Tell any American born before WWII that there would be a Hindu temple near Chicago in anno domini 2026. What would said American think? How would he want his posterity to react?
22K