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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (121908)	9/27/2012 10:21:19 PM
From: mel221	Read Replies (2) \| Respond to of 149317

BC... I am sure you and I don't agree on much. However, given that we seem to agree that Koch's and the Soro's have the power to buy off both parties, isn't there a case to be made that the federal government should be limited in power?

To: Broken_Clock who wrote (121908)	9/27/2012 10:45:32 PM
From: puborectalis	Read Replies (1) \| Respond to of 149317

Romney’s vehicle is known as an “intentionally defective grantor trust” or by the acronym IDGT -- hence the nickname: “I Dig It.” Such trusts permit donors to give potentially unlimited amounts to children free of estate and gift taxes. Here’s how they work: the person setting up the trust, like Romney, contributes assets such as an interest in a fund or shares in a company. If he makes that contribution before those assets appreciate -- particularly when they are privately held and difficult to value -- he can claim the gift tax obligation is low or non-existent since the declared value is low or zero. If the trust generates any income -- such as by selling stock -- the eventual tax bill is the responsibility of Romney, not the trust. By paying the capital gains tax, which was 20 percent in the late 1990s and is now 15 percent, he can avoid depleting the funds in the trust -- in essence making an additional donation that’s free of gift taxes. That benefit in particular makes this type of trust “a more powerful driver of wealth transfer in estate planning than almost anything else,” said Breitstone, the wealth preservation attorney