February 5, 2020
Wanna know why the rich keep getting richer? Here’s a hint: According to a study published by the Brookings Institute, Americans are projected to inherit $764 billion this year and will pay an average of 2.1 percent on that income. For married couples, the first $23.2 million of an estate is tax-exempt, and the wealthy can funnel more to heirs tax-free using trusts and other complicated strategies.
In sharp contradistinction, the estimated tax on work and savings is 15.8 percent.