http://www.catchtheflo.com/name-aged/
Estate Tax: Driving The Rich Olds To Death?
If Congress doesn't take a stand to the way things have gone in 2010, the estate tax moratorium will end come 2011. According to the Associated Press, this has motivated numerous elderly estate holders and their heirs to consider desperate methods. U.S. Rep. Cynthia Lummis (R-Wy.) recently stated that numerous her constituents are even preparing to stop dialysis and other life-preserving treatments so they can die before the door closes on 2010.
Estate tax keeps an inheritance too large from being handed down
Rep. Lummis would not say who the people were that might end up ending their life early to stop the estate tax from getting to their family although she did say individuals with businesses are considering it. Many ranchers and farmers in Wyoming would rather pass along their companies to family than see it go to the govt. "If you have spent your whole life building a ranch, and also you wanted to pass your estate on to your kids, and you also were 88-years-old and on dialysis, and also the only thing that was keeping you alive had been that dialysis, you might make that very same decision," the AP reports Lummis saying.
President Bush's tax cuts: A wealthy liberation
Bush era tax cuts effectively buried the 45 percent estate tax (aka the death tax). It was an ideal time to be an heir to a dying estate holder. Capital gains, dividends, interest, wage income and inheritance were protected. The govt had no control. 2010 had been a fantastic year for tax exemptions as all estates were tax exempt. Since 1916, all estates less than $3.5 million, or $7 million if you’re married, were tax exempt already. Tax rates on estates will go up to 55 percent in 2011 while estates under $1 million will be the only ones exempt. Joseph Thorndike of the non-profit Tax Analysts told the Wall Street Journal that jumping from zero to 55 percent would be “the largest boost in a major tax that (the United States has) ever seen.”
Data from
Newser
newser.com/article/d9j5lab81/wyoming-congresswoman-says-some-constituents-planning-to-die-before-dec-31-estate-tax-rise.html
Did Big George duck the tax?
youtube.com/watch?v=uPqn2Zr0r-Y
How to Analyze Aged Domain Names
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