"GRATS funnel money from the poor up to the less poor? Walk me through how that works."
I've brought up GRATs over a half-dozen times, and you STILL don't know what they are?!?
FTW:
GRATs, or Grantor Annuity Trusts, are a way for the ultra-ultra-wealthy to pass assets without incurring inheritance taxes. Money is put in a GRAT, and then the owner just...disowns it.
Sheldon Adelson used GRATs to pass $8 Billion down to his kids, avoiding ~$3 billion in gift/inheritance taxes.
Because of the couple's inheritance exemption, GRATs are useful for anyone with a net worth over $30 million.
Other famous names with GRATs include Oprah Winfrey, Mark Zuckerberg, and Ralph Lauren.
Here's a further explanation: info.wealthcounsel.com
" Why TF wasn't Trump able to come up with his 'big beautiful plan' during the 4 years he was in office ... "
The funniest part was when Trump said they'd have it soon, he'd had lots of meetings, and reporters quizzed the Congressional honchos, who said they had no idea what he was talking about.
Two weeks. Right after infrastructure week.