There is no way of dealing with it, its a fact of political life.FEOS wrote:
Then deal with the problem. Don't punish those who have nothing to do with the root cause.Dilbert_X wrote:
It is a problem with government, its a fact of life which needs to be borne in mind.
Of course there's a way of dealing with it. The problem is that it takes lawmakers passing laws to make it illegal for them to do exactly what they're doing. It takes integrity in politics. That's like saying it takes virginity in a whorehouse.Dilbert_X wrote:
There is no way of dealing with it, its a fact of political life.FEOS wrote:
Then deal with the problem. Don't punish those who have nothing to do with the root cause.Dilbert_X wrote:
It is a problem with government, its a fact of life which needs to be borne in mind.
We don't have this law in Australia as far as I'm aware. Once someone dies their debts die with them and any assets left behind are solely left to their nominated next of kin. In saying that I don't really see how someone ever "needs" 1.15 billion at any stage, and even taxing them over half that still leaves them vastly, vastly wealthy.Macbeth wrote:
http://sports.espn.go.com/new-york/mlb/ … id=5380442The Steinbrenner family could be facing a billion-dollar battle over keeping its tax money.
Because of a loophole for 2010, the Steinbrenner family stands to save around $500 million in taxes after the death George Steinbrenner, owner of the New York Yankees. However, a group of senators are proposing legislation that, if passed, would mean the Steinbrenner family would be forced to pay back taxes.
"It would be retroactive and that is something the Supreme Court has held up in previous years," said Michael Briggs, the communications director for Sen. Bernie Sanders of Vermont.
Sen. Sanders is one of the sponsors of the Responsible Estate Tax Act, which in part seeks to close the anomaly of the 2010 estate tax law. If Steinbrenner had died in 2009 or 2011, his family would have been subject to a more than a 50 percent federal tax on their inheritance. Steinbrenner's worth has been estimated by Forbes at $1.15 billion.
Thanks for playing, we'll take half.
What a crook of shit. The man worked tirelessly his entire life, he should be able to leave his entire life's work to his children. Is there actually anyone who ''believes in'' the Estate tax?
There are many ways to legislate against that sort of thing...governments are just pretty poor at it:Dilbert_X wrote:
I'm agreeing with you, I just don't see how you can legislate against CEOs of major corporations or the mega-rich from having massive political influence themselves or from passing it on to their offspring.
Limit political campaign spending, I don't know what else, reducing govt taxation and spending would limit pork-barrelling.
