By: Anonymous

Anonymous — Sun, 24 Apr 2005 12:25:16 +0000

With the Republicans beginning to inflate their way out of their poor spending decisions all of our estates are going to “appreciate”. The step up in basis ought to be adjusted (easily done) by using the CPI as a deflator. Most of us have seen, “adjusted for inflation” numbers. Otherwise, the theft remains. This time it will be a clear Republican theft.

By: Anonymous

Anonymous — Sat, 23 Apr 2005 14:49:33 +0000

Robbing the weathy is an endless parlor game that becomes much easier when that person is dead.

By: T.J. Brown

T.J. Brown — Fri, 22 Apr 2005 17:25:20 +0000

The one thing that the death of the estate tax would do for family businesses: it would give the family the option of keeping it.
The end result of repeal is that taxes on appreciated assets will be paid, but death will no longer cause forced liquidation of illiquid assets, privately-held businesses in particular.
Witness what happened at the Buffalo News when the family matriarch died and warm, fuzzy, compassionate, advocate for the poor, estate-tax advocate Warren Buffett bought them at an undervalued price. Buffett wound up making a bundle at the expense of the workers and the community. But Buffett made a bundle, and he can continue to prey upon families who are cash-poor but need to come up with big bucks to satisfy the IRS upon the death of a family member.
Ask the folks who work for the Chicago-area grocery chain Dominick’s if they were better off under the family that ran them for years or Safeway, which has since bought them, closed a number of stores, reduced its workforce, made most of its decisions from California, and infuriated the union, which had a far friendlier relationship with the family.
Thanks for directing me to the post, Josh.

Comments on: Death of the Estate Tax

By: Anonymous

By: Anonymous

By: T.J. Brown