tax, so to expect some outrageous percentage like... if you give him
$1,000 he may see 5c. That's a gross exaggeration of course. :) But
I've heard people say that it could realistically be as much as 50%
which would be enough to make the public rise up in armed revolt as an
income tax. That's all still hearsay, but that's what I've heard. :)
The specifics of an estate tax should be public record in your state
-- I don't _think_ it's a federal tax, but then I've never looked it
up.
Is there something we should know about your health Ray? You know I've
always thought of you as a brother. :)
> Question - is the estate tax an extra tax or simply the
> same tax that you
> pay on earned income? In other words, if I give my friend
> a thousand
> dollars, I expect he will have to pay some of that as
> taxes at the end of
> the year. If I die and leave him money, is he paying the
> 'normal' earned
> income tax or an extra ammount because of estate taxes?
>
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