Yes Ken but the extremely wealthy will have created trusts and whatnot precisely to get around this. I don't remember the details of how it is done, but it is, believe me. I remember explaining it to a couple of people.
So the guys who get bitten are the families who are cash-poor and asset-rich. Like family farms where land values have appreciated due to urban sprawl. Having said which, if the Republicans were sincerely trying to solve *this* problem rather than Paris Hilton's they would probably introduce the "Family Farm Relief Act" or something, which would be a popular move but would not reward their contributors. Dana On Apr 1, 2005 8:37 AM, Ken Ketsdever <[EMAIL PROTECTED]> wrote: > But lets not forget that currently there is a $1.5 million dollar exception > per person. That is moving up to $2 then $3.5 million per person. The > average family is what 2.3 kids? > > So lets start with a $20 million estate. > > Dad dies. $2 million to each of the 2 kids (we'll leave of the .3 kid) > leaves $16 million for mom and nobody pays taxes. > > Mom dies. Her estate is worth $16 million. $2 million to each kid leaves a > taxable inheritance of $12 million. That's without a fancy accountant to > hide assets etc.. > > How many of you have to worry about inheriting over $2 million from each > parent in the next few years. How about more than $3.5 million in 5 years? > > I would say this is a problem of the extreme wealthy and I don't have a > problem with them paying a few bucks in taxes. > > As for the Vanderbilt's losing 56% of their assets to taxes, sounds to me > like they need a better tax accountant or the old man needed to better plan > the transition of his assets to his heirs. Because I am certain this is an > exception not the rule. > > Confidentiality Notice: This message including any > attachments is for the sole use of the intended > recipient(s) and may contain confidential and privileged > information. Any unauthorized review, use, disclosure or > distribution is prohibited. If you are not the > intended recipient, please contact the sender and > delete any copies of this message. > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Find out how CFTicket can increase your company's customer support efficiency by 100% http://www.houseoffusion.com/banners/view.cfm?bannerid=49 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:152621 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
