June 10, 2010

A Rich Dead Man ... and his kids get lucky

Thanks to some weird Congressional legislation, rick folks who die in 2010 won't owe any estate tax to the government.

The estate tax has been allowed to 'lapse' for one year.

So, here's an interesting story about the 'fall out':

http://www.nytimes.com/2010/06/09/business/09estate.html?partner=rss&emc=rss

The estate tax has always been there since a long time ... and it will be back next year to 'haunt' the children of rich dead people ...

In Congressional testimony, Warren Buffet strongly supported the estate tax. But there were other cry baby millionaires there who were cribbing about how it was 'unfair' and 'complicated.'

Even the senators were pretty sympathetic to this 'cause' ...

It was quite interesting to see the U.S. Congress galvanized to action by the 'pains' being suffered by about 5,000 or 15,000 dead millionaires ...

There are millions of officially poor people in the United States whose suffering normally stays under the radar.

Well, perhaps a familiar tale all over the world ... in all democracies ... some folks are just more equal than others.

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