Mortgage or move

Post #253,845 by tuberculosis 4/29/06 11:40:20 PM Reply	Mortgage or move that's life. My dad was in hock up to his ass when he died. I expected (and got) nothing. What of it? I didn't get his boat, his car, or his house. How am I hurt by the estate tax? None of it was mine, none of it was owned free and clear anyhow, and all of his savings was eaten by long term medical bills. I don't have any sympathy for your hypotheticals. I'd like to see it ramped way up and used to pay for universal health care equal to what the congressmen get. [link\|http://www.blackbagops.net\|Black Bag Operations Log] [link\|http://www.objectiveclips.com\|Artificial Intelligence] [link\|http://www.badpage.info/seaside/html\|Scrutinizer]
Post #253,863 by bepatient 4/30/06 10:55:11 AM Reply	Interesting take Alot more extreme than I would have expected of a father. This is not a dig...your view is clear...I'm just wondering if it may mellow as you and family age gracefully. The small business thing is real...whether you want to recognize it or not. Restaurants are a huge example in Philly. Mom and Dad open...all the kids work it and when the last parent dies the kids have to close and sell the building to MAYBE make the tax payment because the limits are so low. In these cases it goes against damned near every core value most people want to protect. Again, I'm ok with docking half of Sam Walton. The leftover half would make all his kids very comfortable forever. I'm completely against the collateral damage that happens all the time...and at current levels is REALLY going to start showing now given real estate valuation. If you push something hard enough, it will fall over. _{Fudd's First Law of Opposition} [link\|mailto:bepatient@aol.com\|BePatient]
Post #253,873 by inthane-chan 4/30/06 12:41:41 PM Reply	So take Ben's solution. Bump it up to $20mil, then index to inflation. When somebody asks you to trade your freedoms for security, it isn't your* security they're talking about.*
Post #253,887 by tuberculosis 4/30/06 4:33:08 PM Reply	I have no intention of building a legacy for my kid to inherit. If she wants to make it, she'll make it on her own. I'll help her, sure. But I'm not busting my ass so she can sit on hers. Typically, rich kids don't generally do as well as their parents. Observe Paris Hilton for instance. One might suspect that this may be partially caused by them figuring they'll inherit it all anyhow so why put in the effort. There are mechanisms for transferring business interests that can avoid the inheritance tax. For instance, if the restaurant is truly a family business, then the kids can gradually take it over via vesting agreements. I also agree that the threshold could be made - oh $5million to pull a number out of the air - to fix the edge cases you cite. [link\|http://www.blackbagops.net\|Black Bag Operations Log] [link\|http://www.objectiveclips.com\|Artificial Intelligence] [link\|http://www.badpage.info/seaside/html\|Scrutinizer]

Welcome to IWETHEY!