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Politics : Formerly About Advanced Micro Devices
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To: Alighieri who wrote (585143)9/13/2010 1:23:55 PM
From: i-node1 Recommendation  Read Replies (2) of 1577101
 
>> And why would the heirs have to liquidate?

I have $1 Billion in appreciated stock that I paid negligible dollars for. When I die, the IRS wants $550 Million.

If the stock isn't liquidated, how are my heirs to pay that tax liability?

This also applies in the case of a small family business. If I own the stock in a family business and the rest of my family (kids, grandkids, wife, whatever) also make a living at, when I die, my family has to come up with the money to pay the estate taxes. If they can't, they have no choice but to liquidate the business, unless they can borrow enough against it (which they likely cannot today) to pay the taxes.

It is a mess.

Just let people keep their own f*cking money and the problem is solved.
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