WATCH TUCKER CARLSON WITH SENATOR KENNEDY

“Let’s suppose you have a young widow with three children, she never remarries,” Kennedy said. “She goes and buys a $150,000 home to raise her kids and she raises her kids in the home. She’s not rich, she works. But her main asset, her only asset is her home. Fifty years later, she dies.”

“As a result of inflation and appreciation over 50 years, her $150,000 home is now worth $1.75 million. She leaves her home to her kids,” he continued. “Under current law, her kids would not have to pay any income tax. On that home that they didn’t sell the property. They wouldn’t have to pay any inheritance tax either. But that’s a separate issue. But under the Biden-Yellen rule, those kids would automatically be taxed on the full value of the home whether they sold it or not. Now it’s a little more complex than that, but the point is, those kids are not going to have the money to pay the taxes.”