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[–] Dark_Shroud 0 points 6 points 6 points (+6|-0) ago
Yup and its sad because a good portion of millennials are only ever going to own houses via inheritance from their family.
So now in Pennsylvania elderly will have to sell their assets to their heirs before they die. Time to go back to hording cash and precious coins/ingots to avoid this asshole tax.
"Here is a house for $1 with the condition that I'm allowed to live here until I die."
[–] 0110001111 [S] 0 points 2 points 2 points (+2|-0) ago
The problem with these shitty inheritance taxes is that rich people can easily avoid them. For example, lets say you have a relative. You declare said relative died in god knows where(France for example), and claim a tax credit against the capital loss in another country. Then you file taxes for that country, involuntarily, stopping you from paying the inheritance tax in PA. The PA tax only applies to PA residents, and people with holdings in PA. So now, richy mcrich not only pays 0% in taxes, he gets money given back to him in the form of a credit, with a carry over for up to 10 years, whilst the honest citizen in PA gets fucked with a 15% max rate
[–] 11089646? ago
This is pure corruption. How do we tolerate this?