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Millionaire Leaves Entire Estate To Pay National Debt
WFTV-NEWS ^ | 1-20-2006

Posted on 01/20/2006 4:53:38 PM PST by Cagey

FINDLAY, Ohio -- The federal government is reaping a $1.1 million windfall from the estate of an Ohio woman. But the money comes with specific instructions.

Margaret Taylor's will said the government has to use her fortune to help pay down the national debt. A spokesman for the Treasury Department said it may be their largest donation ever.

Taylor died in November at age 98. She told her family that she planned to use her money to help people, but didn't reveal her plans.

The executor of her will said he tried to talk Taylor out of giving her money to the government, but she wouldn't listen. Attorney Tom Drake said Taylor was a staunch Democrat who believed the national debt should be paid off.


TOPICS: Culture/Society; Government; US: Ohio
KEYWORDS: fool; idiotdemocrat; millionaires; nationaldebt; nofoollikeanoldfool
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To: Cagey

Everyone is looking at it the wrong way.

The title of the thread could have easily have been "Heir leaves million for the Gov't to fight the WOT".

Perhaps her Million plus went to pay back money used to make weapons, ammo, or pay our military.

For that, I salute the dead democrat. And I wish we had more.

"More" could be dead democrats or democrats who donate money. Thats your pick.


61 posted on 01/20/2006 5:28:06 PM PST by Tyche (A half truth is a whole lie)
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To: Cagey

By the time the heirs' lawyers are done appealing this, the government will have spent 2 mil to collect the 1.


62 posted on 01/20/2006 5:41:34 PM PST by Old Flat Toad (Pima County, home of the single vehicle accident with 40 victims.)
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To: When do we get liberated?
Yeah figures we get one well intentioned, clear thinking Democrat and we had to find out posthumously.

I'm guessing she'll be voting posthumously too! Last I checked, Democrats poll quite well amongst the dead!

63 posted on 01/20/2006 5:50:08 PM PST by Anti-MSM (Conservatives wish 9-11 never happened-liberals pretend it didn't!)
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To: Cagey

"Taylor was a staunch Democrat who believed the national debt should be paid off."

Good for her! Better than giving it to the DNC.


64 posted on 01/20/2006 5:51:12 PM PST by Brilliant
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To: Cagey
Sadly, the woman is an idiot (or just senile).

I say that not because she made a poor decision to waste her money on the government instead of passing it on to her family or contributing it to private charities or foundations or whatever. After all, it's her money and she can do what she wants with it, even if other people disagree with her choice.

No, the reason I disparage her mental capacity is her instructions that it only be used to pay down the national debt. Money is FUNGIBLE. What is so difficult about that concept? The federal government can happily follow her instructions to pay down the debt, because that simply frees up money which can be used for anything else. The government can then go out and borrow more and spend more, and the only effect of her bequest is that the government gets an extra million-plus dollars to squander.

The poor woman may have had good intentions but she has accomplished exactly nothing.

65 posted on 01/20/2006 5:55:52 PM PST by dpwiener
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To: Para-Ord.45

"She`s a certified Idiot"

No, she was a delicate genius.


66 posted on 01/20/2006 6:03:03 PM PST by takbodan (.)
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To: supercat
Every dollar of revenue the government gets is an excuse to increase spending by more than a dollar.

It's the same thing with my wife and my paycheck. Has been ever since we were starving students.

I have learned the hard way: put money away in untouchable investments before it ever makes it into the joint checking account. I wonder if we could do something similar for the drunken sailors of Washington.

-ccm

67 posted on 01/20/2006 6:19:24 PM PST by ccmay (Too much Law; not enough Order)
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To: Cagey
Since the woman had heirs this was unconscionably irresponsible of her. I believe that in the EU you can't disinherit close heirs (ie they get something like 50% no matter what).

I don't favor European methods in general, but this is one where they are DEAD-ON.

Why? Because old people are notoriously easy to swindle out of their money - and its the family that's left holding the bag after the con man/woman takes the $$$ and runs. And that just ain't right.

68 posted on 01/20/2006 6:25:14 PM PST by Al Simmons ('A vote is like a rifle: its usefulness depends upon the character of the user' - Theodore Roosevelt)
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To: NautiNurse
Will the feds have to pay inheritance tax?

Only when they die.


69 posted on 01/20/2006 6:27:21 PM PST by Nick Danger (www.vvlf.org)
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To: NautiNurse
"Will the feds have to pay inheritance tax?"

Now that's what I was wonderin'! And then where would they pay it? To the UN?

70 posted on 01/20/2006 6:28:12 PM PST by A Citizen Reporter
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To: msnimje
Why? It is her money as she could do with it as she pleases.

That doesn't she can't criticized for using it stupidly.

She might just as well have cashed it out in one dollar bills and burned it.

She would have done far more to retire the national debt by allowing the money to be invested in job-creating private enterprise.

71 posted on 01/20/2006 6:29:51 PM PST by JCEccles
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To: TASMANIANRED
"Great-great-great granchildren in teen years and probably total strangers.

I don't know what your family life is like, but it must be miserable. What a statement.

72 posted on 01/20/2006 6:30:47 PM PST by A Citizen Reporter
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To: Cagey
Taylor was a staunch Democrat...

Who will still be voting in every Ohio election.

73 posted on 01/20/2006 6:33:17 PM PST by COEXERJ145 (Those Who Want to Impeach President Bush Are the Party of Treason.)
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To: Cagey
Now that was an old Democrat.
74 posted on 01/20/2006 6:33:53 PM PST by armymarinemom (My sons freed Iraqi and Afghanistan Honor Roll students.)
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To: Cagey

Should of took it with her!


75 posted on 01/20/2006 6:34:54 PM PST by Revolting cat! ("In the end, nothing explains anything.")
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To: Revolting cat!
Should of took it with her

In truth, that's EXACTLY what she did.

76 posted on 01/20/2006 6:37:10 PM PST by JCEccles
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To: Brilliant

the democrat party exhibits behavior characteristic of a CULT.


77 posted on 01/20/2006 6:40:03 PM PST by Samurai_Jack (ride out and confront the evil!)
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To: JCEccles
That doesn't she can't criticized for using it stupidly.

It is very presumptuous of you to decide what is a smart use of someone else's money. You share the same view of the Democrats that people cannot do as they please with their own money because they are too stupid.
78 posted on 01/20/2006 6:40:18 PM PST by msnimje (Senate Democrats ----------- Sound and Furry Signifying INSIGNIFICANCE)
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To: raj bhatia

Another way of looking at it is she just willed $0.003666 to every American. It's better than nothing but still pretty close.


79 posted on 01/20/2006 6:43:47 PM PST by Reeses
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To: Para-Ord.45
I respect your opinion but disagree somewhat: I feel she was a real Democrat (the caliber of Zell Miller)... the kind that have become extinct - not even remotely related to the dimo-rat ilk of today that have sold their souls to far left extremist.

Sadly she trusted our government with her money. To quote PJ O'Rourke "That's like giving a teenager a bottle of Jack Daniels and the keys to your car."

80 posted on 01/20/2006 6:50:22 PM PST by Toadman
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