Khross wrote:
That's an improvement, gangrape included, over your party's position, Aizle.
If you need Medicaid to assist in the cost of your full-time elderly care, you MUST cede all assets held within the last 5 years to the US Government. They will take them from anyone you have sold them to, even if the sale was in good faith. This process makes you legally liable for reimbursing any third-party so affected.
On 31 December 2012 at 11:59:59 PM, the Federal maximum transferable estate drops to $1,000,000.00. All assets, holding, and wealth beyond that will be taxed at 99% (it reverts to the FDR era rules).
So, yeah ...
You may have thought it was a joke, but I have watched friends and their families lose everything to policies your party put in place (earlier) and/or altered (as is the case of both of these) since Obama went into office. You guys said there was no rationing of care in the ACA, yet ...
You'd better in a place to provide all of your own terminal, palliative, or elderly care, or Uncle Sam gets all of your life work, and those changes went into effect immediately.
99%? Really? Where are you getting that from? Everything I've read says the estate tax rate in 2013 past $1,000,000 is 55%. That rate only starts after $3,000,000 of value, and it's per spouse, so if you're married you get a $2m exemption and $6,000,000 of estate before you have to start paying 55%.