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 ...
Hope not....
They’ll avoid taxes? Good.
Opening Day 2011 it would be the United States Govt Yankees.
agreed!
"Because Steinbrenner died in a year when there is no federal estate tax, he potentially saved his heirs a 55% estate tax on his assets — or a tax bill of about $600 million. The 55% tax takes effect on January 1, 2011. If Steinbrenner had died in 2009 when the estate tax rate was 45%, his estate tax bill might have been nearer $500 million."
He's been sick for years and I have to wonder if he had a DNR Order ? :)
The guy isn’t even planted yet, and the Leftists want his estate taxed down to the proton level.
God what vile things these Leftists are.
Steinbrenner worked his whole life to accumulate his fortune. He did it legally. He paid taxes to city, state, and federal government.
What he died with, was post tax. His cash, his assets, all post tax entities.
Now the Leftists want to attach this wealth as if he owed it to society. F that noise.
He can give it to whoever he wants, and being post tax dollars, the various government entities should be attacked by the populace at large, for even daring to go near them.
This infuriates me. There is nothing so despicable as trying to steal a man’s belongings, after his death.
He might just as well be laying in the street with people going through his pockets, as this. It’s the same damned thing.
Igniting class warfare - love it. Since the classes it seeks to make jealous never pay taxes at all, what skin is off their noses? Those who should, but won’t be, jealous, are the small business people who might die after 2010 and have to sell their business to pay the taxes. Those of us in that position would rather just have real fairness and have the tax permanently repealed.
How come the NY Times and AP can print this,while Limbaugh gets called every name in the book for saying the same thing? BTW that is a rhetorical question...since I already know the answer.
A family shouldn't have to sell his business to pay the taxes on their business.
I liken the estate tax to looters during a power outage. People are otherwise occupied, and the leeches are going to take whatever they want.
I wonder, how many wealthy folks hospitalized with life threatening ilnesses will have their plugs pulled by their relatives in December of 2010?
Screw the government, I hope they don’t get a dime.
Peelosi, Reid, must really love this,,,,HAR DE HAR HAR HAR!!
Look how long it took him to build his wealth and all the productive stuff that it does or represents. If it would be taxed and the proceeds thrown into the government “kitty” look how long the money would last, particularly in relation to the current deficits...
If I’m not mistaken, $500 million represents less than 1.5 hours of spending for a $3.55 trillion budget. And that cash infusion is just a one time shot...
I think that the Yankees are on the Democrats legislative radar screen. I think they are going to pass a Congressional mandate for a salary cap and revenue sharing in baseball. (can’t pass up the symbolism of “more Socialism is the only way to save Our National Pastime!)
I agree, the Times is acting as if the government is being cheated somehow, too damn bad. I rather see his heirs get it, and BTW George took a dollar and made 10, if his heirs are half as good they are still ten times better than the government. That money will be put to much smarter and more productive use.
Hey, those wealth redistributionists at the New York Times and the AP are free to “take themselves out of the game” anytime they want -— although they’ve only got a few months to do so if they want to avoid the death tax.
Go for it, guys.
Ted employed the same dodge, if I'm not mistaken.
Didn't that happen in recent years when the owner of an NFL football team died and his family had to sell the team off in or to pay the taxes?
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