Warren Buffet Is Wrong About The Estate Tax
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Most of time he’s right. This time he’s wrong.
It is my opinion that the estate tax must be eliminated. How would you like the government to take a percentage of your inheritance? I certainly wouldn’t. The fact that anyone has to deal with the IRS after losing a loved one disturbs me greatly. Leaving a legacy is one of the reasons why we spend our time working for something to have to give.
And let’s face it, it is possible to avoid most of this nonsense by way of a trust. So this affects the people that didn’t have the advice to setup a trust or a life insurance policy, the very people that need help the most.
Don’t make losing a loved one more of a stressful situation than it already is.
The only good tax is no tax.
2 Comments
barry
November 18th, 2007
at 9:16pm
Warren’s right! You’re wrong!
OK strong words. The next generation should not just inherit the wealth of the previous. Doing so means they never really learn to appreciate how the world works and how to contribute something back to society and make a better world for all to live in, not just the wealthy.
Besides if you look at the numbers, the triggering point for inheritance tax is well beyond the means of most ordinary people.
blaster
November 26th, 2007
at 5:13pm
My point is that the beneficiaries should decide how to use the funds, not the government.