Chef Jim

We’re racists because we challenge you calling a Bill racist when you have not been able to articulate what, in fact, makes it racist? Your logic is faulty at least, dangerous at most.

It’s up to you to prove your interpretation of the law to prove your point. You have failed over and over to do so. I’ve listed over and over the true intentions of a certain law in GA. You’re worse than a die hard Trump supporter when it comes to admitting defeat.

So I missed the word “say” in front of there. 🙄 Point still stands.

Did you read your article? The dangers your article refers to the most are not the dangers we’re talking about. Hurricanes, alligators and spiders oh my!

You need to get out more. Come visit Oakland, San Francisco, Los Angeles, San Diego. FL is child's play by comparison.

If the house is sold upon death there will be no taxation of the growth as there is a step (or down) in basis upon death. If you sell it prior to death you will pay a gain above and beyond your $250k individual exclusion ($500k if married joint)

It looks, from here, as though it has? https://www.legis.ga.gov/legislation/59313#18499 Ok on second look it appears to have been tabled?

Look!! Shiny thing!! Look at all those "War Zone" FL cities on that list. Thanks for killing your own argument.

It's not what they are left with. It's the liquidity (or lack thereof) of the estate to pay the taxes. Questions 1. In your first example. Where is that $16m going to come from? 2. In your second example where is the $18.8 million going to come from? Let's say in your second example there is a family in California that have a home worth $3m (that's nothing for here) and other assets totaling $2m. And for sake of argument those $2m of assets are IRA's. This is not what you referred to as the "super wealthy" these are often average Americans. The millionaire next door. So here's what their heirs will owe in taxes: $800k in estate taxes $400k in income taxes from the required distributions of the IRA's over the next 10 years. Which means these assets have been taxed TWICE! So other than a money grab by the government why do we have an Estate Tax? Well in my example the growth on the home and IRA have not been taxed every year. The beauty of RE is it grows tax deferred. If calculation basis wasn't such a B word I would rather they eliminate the step up and the estate tax.

Tampa is a war zone? Bwahahahaha Crime per 1,000 Tampa 20.8 Oakland 78.7 Wimp

https://legiscan.com/GA/bill/SB90/2021 Interesting how this didn't make the news. Voted in unanimously. Doesn't fit the narrative I guess. Google GA SB and click on News. It doesn't even seem to appear. I found it only by mistake. Am I missing something?

Don't hold your breathe. I've been waiting weeks for him to tell me what aspects of GA SB-202 are racist. He got so tired of me asking and not being able to answer it appears he has blocked me. Can't debate? Can't admit defeat? Plug your ears. Please point out what part of the law specifically targets protests against racism only?

I'm not talking about where I live. I'm talking about the whole country. Let's try International Bvld in Oakland. How has the drug traffic dramatically decreased in the past 12 months.

Those areas? What areas are you talking about and how has the traffic drastically decreased? Site your sources please.

The entire business came to a grinding halt? Drug use has soared during the pandemic.

Florida? Most dangerous? Bwahahahahahahaa!! How have you drawn this conclusion?

Well well well. Biden favors billionaires over the middle class.

The elimination of step up in basis will likely affect us all. Any idea how hard it is to determine basis of an estate? Take the family home bought by mom and dad in the 50's. There have been additions, renovations etc over the years. Some of those as far back as 50 years ago. I suggest you get into the accounting business. There could likely be a big call for that. This would be fine if Biden was floating out the first $10m. However he's talking about the first $3m. That may seem like a lot to many of you but here in CA that's chump change.

You're absolutely correct. These changes actually bode well for my industry. Now what is the cost to the children to take an ownership stake? What if the children don't have the means to have an ownership stake? Let's say the children are NOT deeply involved in the ownership of the company at the time of mom and dad's death. The business lacks liquidity to pay the 40% (or higher) in estate taxes. Now the children are likely going to have to sell the business in order to satisfy the tax bill due. There goes the business that mom and dad worked so hard to build.

Those likely aren’t the ones resigning. They’re pros up even more angry than before. Do you think making them the enemy will help this problem or exacerbate it?

So a family starts a business, let’s say a winery. They children become deeply involved in that business. Mom and dad pass. In order for the kids, who now want to continue running the business, to keep the business, they find they owe the government potentially millions in taxes. The government wants those taxes in 9 months. The business only as a few hundred thousand in liquidity. Now the children are forced to sell the business they want to keep in the family in order to pay those taxes. You ok with that? Not painting with a broad brush. It’s a complete lack of understanding how family businesses operate.

He’s discussing $3m. Is that number fair? What would you like to see it dropped to?

You know that Mother Nature chick? She not a B word. She’s large and in charge.

When our leader is in fear of “getting in trouble” we are in trouble.

The cynic in me says: So you want me to pay more (likely) for YOUR product because YOU say it's going to last LONGER so over the LONG run I will spend LESS? What makes the clothes last longer? He joins a VERY long list.