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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Chris J. Horne who wrote (15077)7/17/2000 1:40:25 PM
From: Sam  Read Replies (1) of 15132
 
Chris,
Thanks so much for your comments.
<<If you read the book "Millionaire Next Door", you have to question the
wisdom of leaving large amounts of money to your children. Their research shows that it is a
demotivating factor that often leads to unproductive lives. I know a couple people who will
inherit a million and more, and they are spending like they have it already. Just anticipation
of that inheritance is affecting their spending habits. >>

That is part of the reason why the attacks on the estate tax are absurd, especially when coming from people who themselves "conservative". I'm not sure where the different levels are either (I also thought that the first was more like 30%, but I could always be wrong about this). Some kinds of life insurance and annuities can be used to legally avoid estate taxes, at least at the federal level.

This whole campaign against the tax is an amazing case study in wishful thinking, on the one hand, and great PR on the other.

Sam
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