"Asset dumping" and republicans

[SoCalDem]

Apparently this is one issue they are very proud of getting into the "program cuts" part of their giveaway bill.

Dreier is salivating about the "quarter of a million dollar" home that now cannot be "dumped" prior to institutionalization of an elderly person.

The people who will be affected by this are NOT the rich. They are YOUR grandparents or maybe even YOU.


Let's say you are a "lucky duckie" and have a paid for home that you bought for a song, back in the 70's. On paper that house is worth a lot by now.

Now let's say you are also lucky enough to still be happily married. Here's something they overlooked in the bill. people do not usually become ill and die simultaneously.

What if Grandpa develops Alzheimer's and grandma cannot care for him at home? Their home will now need to be sold to pay for that much of Grandpa's care. We all know that the care cost will accelerate now, due to the fact that homes are out there just waiting to be signed over.

Better start getting that extra room ready for Grandma, because once the house is gone, she'll have nowhere to live.

[orwell]

1. So that's where the deficit came from...

...fucking old people.

Oh by the way...Merry Christmas!

[sam sarrha]

2. the French knew how to throw a Revolution.. we should learn from that

you really need to clean house when you move them out.. so the rats dont come back, but in a civilized culture maybe we could just Banish them to an Island or a compassionate Lobotomy.. like they gave Casey and Reagan.

[shanti]

3. quarter of a million?? oh, you mean

a $250,000 dollar home...like my 979 ft halfplex in cali? this is such bullshit. it's going to definitely affect the everyday people and this burns me UP!

[SoCalDem]

4. Yup.. and the "rich" people

will not have to worry anyway, since they have their "assets" well-protected by incorporation anyway.

How many really rich people do not have offices full of tax lawyers & accountants busily protecting their assets?

This "new law" will just make it easier to snatch away a lifetime's worth of effort, from formerly middle-class elderly people.

We plan on "selling" our final home to our three sons, well before our demise (we hope)..and then we will "rent" it from them. They will end up with what we have anyway, so why make them have to go through hassles after we are gone?



If you technically "own" nothing of value, the state cannot grab it away from you..

It's ironic too, because the thing most people fear most , is institutionalization..and to know that it will now cost your spouse a place to live must be very hard to swallow

[shanti]

10. selling to your sons...

that's an excellent idea. i have four sons, thanks for the 'bug in the ear'! i have no spouse, but this is just not right!

[LSK]

5. WTF?? you cant sell a house now?????

Am I missing something here?

[SoCalDem]

7. There are prohibitive time limits now.

Let's say you sell the house for $400K a year before Grandpa needs to go to a nursing home...you must fork over $400K towards the care ...after it;s all "used up", you can apply for aid.

[Cleita]

8. So let me get this straight.

They don't want inheritance taxes because they are unfair to the rich, but the average working class Joe, has to forfeit his inheritance to pay for grandma's nursing home?

[SoCalDem]

9. NOW you got it ...

Poor folks should be renters..not owners :puke:

and it's Grandma's fault anyway for getting sick.. personal responsibility, ya know?

[Cleita]

6. That's disgusting.

eom

[Kansas Wyatt]

11. Republicans are counting on the point you are making.

"People do not usually become ill and die simultaneously."

"Their home will now need to be sold to pay for that much of Grandpa's care."

That is exactly what these greedy fuckers want. For people who have worked for something all their lives, to be wiped away to foot the bill for the one who needs 24/7 care. Grandma should just pull herself up by the bootstraps, needed care before Grandpa, or picked a healthier husband.

Just so the richest 1% can have more and then pass their wealth on to their family.

And, so we can have Iraqnam (Quagmire) for Halliburton, the military industrial complex, and big oil companies to rake in billions.