Here's why rich kids could get hundreds of billions from their parents if Biden wins

tax plan calls for steeper taxes on large gifts and inheritances to family members. So families want to make those gifts now before the tax window closes, possibly as early as January.

The savings could be substantial. Under the 2017 tax cuts, wealthy parents can leave up to $11.58 million each, or $23.2 million per couple, during their lifetime without paying an estate or gift tax. Biden would cut that limit to $7 million and increase the current estate tax rate from 40% to 45%. Biden is also getting rid of what's known as step-up basis, which currently allows families to avoid paying capital gains on appreciated assets that are passed down or given at death.

Advisors say some families are simply speeding up gifts they already planned to make to their kids in the coming years. Others are deciding to make gifts for the first time, opening up a whole other series of complex and sometimes contentious family discussions about how much money to leave kids and when.

Of course, the inheritors may not receive the money for years, since trusts can be structured to delay any payouts. Yet the flood of money pouring from older generations to the next at the end of the year could boost everything from consumer spending and home purchases to investing and stock markets. As Americans have gotten older and wealthier, wealth transfers have surged — from $195 billion in 1989 to $427 billion in 2016.

Apparently, so is Joe Biden.

He’s not gonna win. Won’t even be close.

Scare tactics and CNBC need not spread the false propaganda

JoeBiden is CNBC or Joe Biden going to comment on the New York Post story? It’s interesting that it’s been so quiet.

Isn’t he being investigated?

You mean, end of capitalism. Then it will be the end of golden age of American superiorism.

The only thing Biden’s winning is a game of BINGO at the retirement home he’ll be at in 6 months.

At this rate Biden wont even be on the ticket. Wheres Hunter?

No way. He walked into a gym of 9 people and only one clapped. 3 cars in his parade. No one showed up in AZ. He’s a joke

CNBC is spreading false hoods, President Trump is way ahead in the proper polls not the made up ones by CNBC. ...

Trump kids will get the taxman's 'Daddy's 50 years of unpaid dodged tax bills'.

BIDEN AND KAREN WILL LOSE

No wall, infrastructure bill or new deal for middle class but immediately tax cuts for the wealthy after Trumps election. At this point, I almost believe people want to be deceived and I doubt they deserve better.

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