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Steinbrenner Heirs May Save Millions on Estate Tax (Class warfare at AP)
AP via NY Times ^ | 07/14/2010 | Staff

Posted on 07/14/2010 12:01:56 PM PDT by OldDeckHand

CHICAGO (AP) -- Born on the Fourth of July, George Steinbrenner left the world stage with a great sense of timing too.

(Excerpt) Read more at nytimes.com ...


TOPICS: Constitution/Conservatism; Government; News/Current Events; Politics/Elections; US: Illinois; US: New York
KEYWORDS: bushtaxcuts; estate; illinois; newyork; tax; yankees
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To: OldDeckHand

I’m confident that the Dems will do a retro Estate Tax for 2010 in the lame duck session, one that will screw us much more than the 2009 rules. After all, they feel that all $$ belongs to the government...


21 posted on 07/14/2010 1:23:18 PM PDT by DmBarch
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To: DoughtyOne

Their still mad that Steinbrenner supported Nixon.


22 posted on 07/14/2010 1:24:38 PM PDT by JimC214
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To: DmBarch
"I’m confident that the Dems will do a retro Estate Tax for 2010 in the lame duck session, one that will screw us much more than the 2009 rules. After all, they feel that all $$ belongs to the government..."

Yep, that's a gimme. But, it will be interesting how they do it. The rules for Budget Reconciliation are somewhat complex, and I'm not sure there's time to get it done during the lame duck session.

23 posted on 07/14/2010 1:27:21 PM PDT by OldDeckHand
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To: GeorgeTex

Yep, good call.


24 posted on 07/14/2010 1:39:16 PM PDT by DoughtyOne (If McCain is a Conservative, there are no Leftists. Not Teddy K., John K., George S., Russel F...)
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To: Titus-Maximus

Great points...


25 posted on 07/14/2010 1:40:02 PM PDT by DoughtyOne (If McCain is a Conservative, there are no Leftists. Not Teddy K., John K., George S., Russel F...)
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To: JimC214

Isn’t that the truth.


26 posted on 07/14/2010 1:41:08 PM PDT by DoughtyOne (If McCain is a Conservative, there are no Leftists. Not Teddy K., John K., George S., Russel F...)
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To: OldDeckHand

How dare they keep the money legally earned by their deceased family member! I am outraged!!!!!!!!!!


27 posted on 07/14/2010 1:43:48 PM PDT by vpintheak (Love of God, Family and Country has made me an extremist.)
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To: Hot Tabasco
Don't know, but I wouldn't be surprised. If the estate tax was at, say, 50%, how else could you possibly afford it.

Hell, that was the whole reason for the big Jackie O auction (parodied in "Seinfeld").

28 posted on 07/14/2010 3:04:38 PM PDT by Tanniker Smith (Obi-Wan Palin: Strike her down and she shall become more powerful than you could possibly imagine.)
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To: OldDeckHand

Maybe they can buy a Clevland team or maybe the Detroit Lions.


29 posted on 07/14/2010 3:16:29 PM PDT by Oystir
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To: OldDeckHand

I did not read the article, but the headline is clearly in error in that heirs do not pay estate taxes; the deceased’s estate pays the taxes.


30 posted on 07/14/2010 3:54:45 PM PDT by Loyal Buckeye
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To: Loyal Buckeye

[quote]
The rules for Budget Reconciliation are somewhat complex, and I’m not sure there’s time to get it done during the lame duck session.
[/quote]

Obama will just pass it through Executive Order. He’ll put it so that everyone who died in 2010 pays a 100 percent estate tax.


31 posted on 07/14/2010 5:12:27 PM PDT by BenKenobi (We cannot do everything at once, but we can do something at once. -Silent Cal)
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To: DmBarch

“I’m confident that the Dems will do a retro Estate Tax for 2010 in the lame duck session, one that will screw us much more than the 2009 rules. After all, they feel that all $$ belongs to the government...”

Do you have this on good authority - for example, are you an accountant or something like that? I’m just wondering if there’s substance to this, or if it is, rather, just speculation based on a projection of infinite government greed...?


32 posted on 07/14/2010 8:46:47 PM PDT by Jack Hammer
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