“ The problem is ...

There's a second problem ... taxes.“ Good morning, our foreign friends might not know how our tax system works. My kid and two grandkids ages 8 and 12 live in LA, California. In an ugma account , the first 2500 $$ or so of taxable events gets favorable tax treatment in the kids accounts. Above that level every dollar of gains is taxed at the parents top rate. Approximately 22 percent for trump and an additional state tax of 12 percent ish for Gov Newsom. Can anyone even think of selling into that and sleep at night? Meanwhile Buffett and Gates can gift 100,s of billions of their untaxed wealth to their foundations tax free which get to enjoy the proceeds of stock sales, tax free. Welcome to America folks, where both parties are bought and paid for. Hopefully my kids all move to Nevada or another income tax free state when they retire and face RMDs etc.

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