Good Time To Die?

Is there a good time to die? Yes there is, this year as a matter of fact.


With Timing of Death, Steinbrenner Family Won't Pay Estate Tax

By MARIA EUGENIA MIRANDA


The timing of George Steinbrenner’s death may have ensured that the New York Yankees franchise stays in the family.

Because of a lapse in the federal estate tax, Steinbrenner’s family is saving about $500 million that they would have otherwise had to pay Uncle Sam. The 45 percent tax expired in January and starts up again in 2011 at 55 percent.

The 80-year-old Steinbrenner died yesterday after a massive heart attack in Tampa, Fla. He was credited with building the Yankees, perhaps the most storied team in baseball, back to a number 1 franchise during his 37 years as owner. A controversial figure, he was also an iconic figure in New York sports and pop culture.

If Steinbrenner’s family would have had to pay the death tax, which the government formerly collected nine months after the person’s death, they would have likely had to sell their most valuable asset – a 55 percent stake in the Yankees’ parent company.

Full Story: http://www.nbcnewyork.com/news/local-beat/Steinbrenner-Family-Exempt-From-Estate-Tax-98418909.html


The estate tax is beyond ridiculous and should be repealed indefinitely. Why does any government, this one in particular have a right to tax these people of every dollar they make and then take half of what they have after they have died and already paid taxes on it. I know with the apathy we here in America have shown for the last hundred years we can't cry "taxation without representation" because we voted these bums in. You can't change Washington until you change the people you send there, and you can't change the people you send there until we change ourselves. Get involved!!!