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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (603917)	3/16/2011 5:31:45 PM
From: TimF	1 Recommendation Read Replies (1) \| Respond to of 1572505

Esp since they won't be paying the tax on much of their estates anyway, Buffet apparently plans to give much of his wealth to charity, he's already given billions, I don't know about Soros, but whatever part of their fortunes either one doesn't give away will likely be handled by the best in the business at reducing tax liability. Trusts, life insurance policies, and possibly more complex schemes that I'm unaware of will be used. People typically argue for the estate tax by talking about the mega-rich, but they often don't pay much of it. Its a tax on the more ordinary rich, esp. those who are unprepared. And its primary benefit is to help out accountants, tax lawyers, and people who run tax shelters. Its one of the taxes with the highest levels of deadweight loss per dollar of federal revenue.