Shootist
Premier Member
Registered on
Dec-09-2001
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Message #173433 posted by Shootist (Info) March 18, 2008 22:17:04 ET
In Reply to: Re: Obama on religion and politics posted by Dabullz (Info) March 18, 2008 11:28:53 ET
Thanks for the compliment, bullz.
The truly wealthy, <1%, or those whose assets are greater than $6 or $7 million a year, do not pay inheritance tax. They have enough wealth that they can put in trust so as to become untouchable by government.
The Inheritance Tax that is most irksome applies to those whose net worth is between $600,000 and 5 or 6 million. These people are typically small business owners, including physicians, surgeons, lawyers and farmers. In these cases, much of their net worth is in real estate (a home, homes or the family farm). The families usually have to sell the properties to pay the tax. That is intolerable.
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