New Jersey - Fuck the middle class

[Fugus]

Should high school students be taxed for cars given to them by their parents as "gifts"? Should kids be taxed on their allowances? Where does your 'wealth transfer' end?

Technically, if their allowance is over a set threshold, they would be required to pay taxes on it as well as it would still be considered income. But typically that is never an issue unless you are dealing with some majorly rich family members.

[Stop Pretending]

Technically, if their allowance is over a set threshold, they would be required to pay taxes on it as well as it would still be considered income. But typically that is never an issue unless you are dealing with some majorly rich family members.

I found nothing to back this. The only taxable " allowance " is in terms of employees getting an allowance to pay for lodging or food.