“You better give your money away before it gets taken from you,” he said.
Breitbart posted a portion of the transcript:
JIMMY KIMMEL, HOST: Does your family ask you for money when you go back home?
TIM ALLEN: Yes!
KIMMEL: Do they? Yeah, yeah.
ALLEN: Does that ever work, you know? This folds into the government, doesn’t it?
KIMMEL: I think it does work.
ALLEN: You can’t give people money and help them. It doesn’t work.
KIMMEL: Yeah, but they’re willing to try.
ALLEN: Yeah, they are definitely willing to. Oh, God, did you bring up a sore one.
KIMMEL: Well, why don’t you make an announcement right now that you’re headed home and you won’t be giving any money to anyone?
ALLEN: Well, you know what I look at sometimes, I say, “Rather them than the government.”
KIMMEL: I see.
ALLEN: You know, you better give your money away before it gets taken from you.
He went on to say that people can “gift” money and other things to members of their family.
Newsbusters’ Noel Sheppard said that Allen was correct, but noted that the rules change on January 1, 2013, “when the lifetime limit drops to $1 million per spouse.”
“In 2012, you can give a tax-free gift of up to $13,000 per person. If you’re married, you and your spouse can each make such a gift,” he wrote.
Watch the exchange below:
- Occupy Seattle activists throw cash out of window to protest money in politics
- Robert Reich: Rich should redistribute wealth or risk angry mob
- Bernie Goldberg: ‘Thank God for rich people’
- Howard Dean says it is the government’s job to redistribute wealth
- Former SEIU boss reveals plan to cripple banks, redistribute wealth
- Fact checker: Obama falsely claims some billionaires pay 1 percent tax rate
- CEO goes nuclear on Obama: Stop the class warfare rhetoric