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The asset has not moved outside the family, has not been sold, no profit on sale has been realized.

You think a profit transfer has been made, because you think in terms of atomized individuals with no family.

Citizens are taxed as individuals, not families. A person did not have assets, and now they do. I don't care that the land was "in their family." If they are even decent at managing their assets, then they will have more assets when they die than when their parents did. And if they don't, then it's not my concern. I don't believe in government policies to perpetuate generational capital wealth, and I will vote against them as long as we have a system where money can be used to influence the government.

This is the ‘fuck anyone trying to pass anything to their children’ element which most parents will (rightly) got WTF at.

The exemption is several million dollars.

I don't mind if people get mad when anything more than that is taxed.

That is not what the prior comment I was addressing said. Maybe implied, but that’s different.

Yeah, I'm sure the 1% of people this actually affects will be really big mad and stuff.

Wrong, we literally double everything in our tax code so that spouses can file jointly.

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