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.
rofl she covers the federal debt increase for what, 70 minutes?
With you entire enormous fortune you could buy islands in the Caribbean, Castles in Spain, precious jewels, but with all this vast wealth you still could not afford to build the MLK memorial the Feds want to spend $400,000,000 on in DC.
correction - make that 70 seconds
I would imagine the graft level on public works projects is astonishingly high. Anything over 90% would surprise me a little, though.
There is no federal inheritance tax - it's an estate tax, levied on the estate, not directly on the people who inherit.
As for Mrs. Taylor - well, it's her money and this is a free country. If she wants to give it to the government, that's her choice (albeit not one I'd make).
Yes, that's why it's also know as a DEATH TAX.
I don't know, I like her spunk. There are a lot of strong civilians in America. The terrorists look at civilians and only see the ones the want to see. When the fight goes down it will go much deeper than any jihadist ever imagined and the American character will once again be praised.
I don't get the tone of this thread. Would she have been "saner" if she had given the money to MoveOn.org?
And who did she help? Absolutely no one. I wonder how old she was when she executed the will.
See post #61, I agree
Hmmm, I think in this case the term "chump" change would be more accurate.
I wish more Democrats would put their money where their mouth is. I tell Democrats all the time if they oppose President Bush's tax cuts, they should donate the extra savings back to the government. That way they don't have to keep money they don't think they deserve.
This woman has a belief and put her money behind it. Good for her. More Democrats and pro-tax Republicans should do the same.
The only difference between her and other Democrats is that she put up her own money to stand behind her ideas of what should be done with money.
God bless her. I wish more Democrats spent their own money on their own ideas.
If her belief were in the sphere of reality, it would be fine.
That is not the case here.
It is the equivalent of leaving her money to "the fund for controlling the sun's burn-rate to prevent global warming."
While the idea makes one feel all warm inside about "doing something," it has zero effect on reality.
That is a great service to his country.
I truly believe that democrats were different back then. Not so nutty as they are now.
Good one...LOL!
Well, the phrase was " A sucker is born every minute" as suppose that means a sucker dies every minute also.
How does anyone that stupid wind up with more than 1 million dollars?Actually it's not that much anymore.
She must have been senile, though, and I'm glad to hear that her lawyer tried to talk her out of it. It's the kind of thickheaded "idealism" that is only available to the senile, who wind up giving their money to either the government or their pet cat (who could actually put it to better use than the govt.)
Amen. Nuff said.
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