Ed
👤 PersonAppearances Over Time
Podcast Appearances
But what about everyone else? I mean, we know he's insane for many reasons, but what about everyone in Congress? Like, I don't understand how anyone would be okay with, we're going to cut Medicaid spending. I mean, that argument alone, I'm willing to have that conversation.
But what about everyone else? I mean, we know he's insane for many reasons, but what about everyone in Congress? Like, I don't understand how anyone would be okay with, we're going to cut Medicaid spending. I mean, that argument alone, I'm willing to have that conversation.
But then pair that with, oh, and by the way, we need to increase the amount of money that rich people, ultra-rich people can pass on to their kids tax-free from $27 million to $30 million because of inflation. Bridge that gap for me.
But then pair that with, oh, and by the way, we need to increase the amount of money that rich people, ultra-rich people can pass on to their kids tax-free from $27 million to $30 million because of inflation. Bridge that gap for me.
But then pair that with, oh, and by the way, we need to increase the amount of money that rich people, ultra-rich people can pass on to their kids tax-free from $27 million to $30 million because of inflation. Bridge that gap for me.
It's unbelievable. And by the way, we're almost talking about it as if the thing that's on the table is just having a total cutoff rate for the amount that a child can inherit from their parents. We're talking about an exemption. It's like you get the $30 million tax-free, and then everything beyond that point is 40% taxed.
It's unbelievable. And by the way, we're almost talking about it as if the thing that's on the table is just having a total cutoff rate for the amount that a child can inherit from their parents. We're talking about an exemption. It's like you get the $30 million tax-free, and then everything beyond that point is 40% taxed.
It's unbelievable. And by the way, we're almost talking about it as if the thing that's on the table is just having a total cutoff rate for the amount that a child can inherit from their parents. We're talking about an exemption. It's like you get the $30 million tax-free, and then everything beyond that point is 40% taxed.
So you're still going to make—I mean, these kids are going to inherit literally hundreds of millions of dollars, right? And the question is, why are we increasing the tax-free exemption? Why is that such an important thing? And when you're saying, like, who wins here, it honestly feels like the only ones who win. I agree with you. I don't think the kids win.
So you're still going to make—I mean, these kids are going to inherit literally hundreds of millions of dollars, right? And the question is, why are we increasing the tax-free exemption? Why is that such an important thing? And when you're saying, like, who wins here, it honestly feels like the only ones who win. I agree with you. I don't think the kids win.
So you're still going to make—I mean, these kids are going to inherit literally hundreds of millions of dollars, right? And the question is, why are we increasing the tax-free exemption? Why is that such an important thing? And when you're saying, like, who wins here, it honestly feels like the only ones who win. I agree with you. I don't think the kids win.
I don't think you win because you got... $10 million more tax-free from your parents. I think you'll probably just become more of a douchebag, less in touch with reality, probably live a worse life, as you put it. I think the only people winning here are the parents who have this perceived sense of, I fucking crushed it. And I worked so hard and I made all these hundreds of millions of dollars.
I don't think you win because you got... $10 million more tax-free from your parents. I think you'll probably just become more of a douchebag, less in touch with reality, probably live a worse life, as you put it. I think the only people winning here are the parents who have this perceived sense of, I fucking crushed it. And I worked so hard and I made all these hundreds of millions of dollars.
I don't think you win because you got... $10 million more tax-free from your parents. I think you'll probably just become more of a douchebag, less in touch with reality, probably live a worse life, as you put it. I think the only people winning here are the parents who have this perceived sense of, I fucking crushed it. And I worked so hard and I made all these hundreds of millions of dollars.
And because I worked so hard, I need to do everything I can to hoard that wealth and to protect it. And I'm not going to be able to spend it over the course of my lifetime. I've got, what, 20 years left. What am I going to spend $200 million on? So the only other option is to say, oh, well, the last thing left to conquer is to make sure that the most amount possible can go to my children.
And because I worked so hard, I need to do everything I can to hoard that wealth and to protect it. And I'm not going to be able to spend it over the course of my lifetime. I've got, what, 20 years left. What am I going to spend $200 million on? So the only other option is to say, oh, well, the last thing left to conquer is to make sure that the most amount possible can go to my children.
And because I worked so hard, I need to do everything I can to hoard that wealth and to protect it. And I'm not going to be able to spend it over the course of my lifetime. I've got, what, 20 years left. What am I going to spend $200 million on? So the only other option is to say, oh, well, the last thing left to conquer is to make sure that the most amount possible can go to my children.
But they lie about what their intentions are. And I think that's what we're seeing with this tax plan, which is what is so upsetting, is how easy it is to lie and how many people believe you. I mean, the whole... The whole point of this administration from the get-go, or at least the fiscal plan, was fiscal responsibility. The whole thing was, let's balance the budget.
But they lie about what their intentions are. And I think that's what we're seeing with this tax plan, which is what is so upsetting, is how easy it is to lie and how many people believe you. I mean, the whole... The whole point of this administration from the get-go, or at least the fiscal plan, was fiscal responsibility. The whole thing was, let's balance the budget.
But they lie about what their intentions are. And I think that's what we're seeing with this tax plan, which is what is so upsetting, is how easy it is to lie and how many people believe you. I mean, the whole... The whole point of this administration from the get-go, or at least the fiscal plan, was fiscal responsibility. The whole thing was, let's balance the budget.