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Reply #80: I've been kind of wondering since January 1 [View All]

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musette_sf Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-25-10 09:51 PM
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80. I've been kind of wondering since January 1
Edited on Fri Jun-25-10 09:52 PM by musette_sf
if Ole Dead-Eye was planning to do something like a Dan Duncan this year.

Houston's Dan Duncan: First U.S. Billionaire To Die And Pay No Tax Whatsoever On His Estate

Had his life ended three months earlier, Mr. Duncan's riches -- Forbes magazine estimated his worth at $9 billion, ranking him as the 74th wealthiest in the world -- would have been subject to a federal tax of at least 45 percent. If he had lived past Jan. 1, 2011, the rate would be even higher -- 55 percent.

Instead, because Congress allowed the tax to lapse for one year and gave all estates a free pass in 2010, Mr. Duncan's four children and four grandchildren stand to collect billions that in any other year would have gone to the Treasury.


http://blogs.houstonpress.com/hairballs/2010/06/dan_dun...
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