Sunday, September 14, 2008

Federal Inheritance Tax - Keep It! - Expand It!

We are remembering; eighty percent, of the USA wealth, is being controlled, by twenty percent, of the USA population. The distribution, of the annual USA income, is more severe; the top ten percent, of the income recipients, are controlling, fifty percent of the income.
The Baby Boomer News is holding, the belief; these inequitable distributions, of income and wealth, are the fundamental problems, which are affecting, the USA society.
The results, of these affects, are negative.
The negative results are including: crime; substance abuse, malaise; declining effectiveness, of public education; inability, such to function, as a thinking citizen and rational consumer.
Yes, TBBN is aware; life is unfair. Yes, TBBN is understanding, life is comprised, of random occurrences, many, of which, are negative.
Yes, TBBN does appreciate; the majority, of the citizens, are, unfortunately, accepting, these inequities, as the status quo.
In addition, this same citizen majority is reluctant, such to use their superior numbers, united in an effort, which is forcing, a change. Said change is removing, these deplorable, income and property, distributions’ conditions.
TBBN is a long time advocate, of the Federal Estate Tax. Indeed, The Baby Boomer News is advocating, the modifications, of the Federal Estate Tax.
The modifications are fulfilling, two goals.
First, the tax is being extended, such that the tax is impacting, the estates, which are being valued, at less than two million dollars.
Second, the tax is being modified, such that the passing, of wealth, from a family's generation, into the same family's succeeding generation, is being eliminated.
The Baby Boomer News does believe; each individual, whether operating, as a proprietor; a partnership; a corporation; a worker is accumulating, all, which is within legal grasp, during, the individual’s lifetime.
However, as the accumulator is dying; the accumulated wealth is being returned, into the society.
Inheritance, of real and personal properties, as we do know same to exist, at this time, is being eliminated. Familial heirs and outside the family heirs are not existing.
Now, the Federal Estate Tax is not effective. The tax is permitting, the "twenty-percents" such to pass wealth from family generation, into, another, family generation.
An informative essay, using easily understood, non legal, prose, is explaining, some methods, which are being used, by the "twenty-percents," as they are skirting and avoiding, the Federal Estate Tax. The hyperlink, which is contained, herein, does open the essay, for your perusal.
The essay is using, as an example, the machinations, which are, possibly, being implemented, by six stockholders. These six stockholders are the sole owners, of a National Football League (NFL) franchise.
These, current, owners are negotiating, the sale of the franchise. The franchise is being valued, between 800 Million dollars and 1.2 Billion dollars.
This business entity is a, closely held, private, corporation; the public is not involved, in the ownership, of the franchise.
The franchise’s stock is being held, by five brothers, and one outside family

Estate Taxes Pose Little Threat


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