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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (320335)	1/12/2007 4:25:23 PM
From: TimF	Read Replies (1) of 1575627

Inheritance tax (at least at the high current rates) inspires more effort at avoidance and evasion then income taxes (at least per dollar of tax collected). Maybe that's because the rates are higher, and also because you have a lot longer to adjust your actions to minimize your tax liability. You would probably have to cut back on trusts and loopholes. I thought the estate taxes were much lower... frankly I haven't given this a lot of thought... just thinking out loud. Maybe your thinking about how the rate is currently scheduled to turn to 0% for one year and one year only. The rate has gone down but the top rate is still pretty high. It's gone from 55% in 2001 to 46% in 2006. 2007 to 2009 is supposed to be 45%, 2010 is supposed to be 0% and then 2011 is supposed to be back up to 55%. (If it isn't changed I wonder how many wealthy people will be killed by their heirs in Dec 2010) The effective rate paid is much lower for a number of reasons. First their is an exemption (currently the first $2mil doesn't face the tax), and then of course you have the trusts and loopholes.

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