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I preach this sermon 5 times a week..

I believe he supported Soetoro.

Obama's new IRS director, E. Scrooge, said it best in a recent news conference: 'If they'd rather die then perhaps they had better do so and decrease the surplus population'.

He then quickly added, 'so long as they give their fair share of 55 percent first.'

Worked for SEIU and GE.

But think about the poor, everyday rich.

They take a third of what I make doing 50+ hours a week. But when they divey up $70 mill, the government makes half! Never mind that they did not work for this money, the guvmut is taking an extra 20 odd percent! Just because it's millions of dollars, and they did nothing for it.

So it would be more fair of you payed nothing for doing nothing. Working stiffs should tote the taxes, right?

There shouldn't be an IRS.

Then one would have to ditch the FED . . .

Shut up! You are revealing his ulterior motive...

Not an ulterior motive it's a bonus.

Cannot unwind banking control of OUR country without undoing all tentacles.

Brewhas my friend not my enemy.

It was merely joke to be shared amongst friends- or the like...

They wore wooden teeth and changed clothes once a year too,,

Perhaps. Do some homework. You just may find it interesting....

[quote=bloody spaniard]The estate tax is as high as 55 percent.

Poor Tony Soprano's family will only get about half of his 70 million fortune. Since only 20% of the estate was allotted to his wife, the rest of the 80% was for other family members and will be subject to a Obama's harsh death tax.

Too bad but his problem (other than being dead) is that he was stoooopid with his estate. Anybody worth $70M has plenty of ways to shield the money from estate taxes. Think Warren Buffett will pay 55%?

DED

Warren Buffett, the billionaire investment guru known as the Oracle of Omaha, is donating about $2.6 billion in stocks to five charities as part of a plan to give away the bulk of his wealth before he dies.

The chairman and chief executive of investment firm Berkshire Hathaway has watched his fortune soar this year as the company's stock jumped more than 25%. In March, Forbes magazine pegged his wealth at $53.5 billion.

The bulk of the annual donation, about $2 billion, went to the Gates Foundation, the philanthropic organization set up by Microsoft co-founder Bill Gates. Buffett also donated millions to his own foundation and the charitable organizations set up by his three children.

Along with Bill Gates, Buffett was one of the originators of the Giving Pledge, which encourages the wealthiest people in the world to commit to giving away most of their riches to philanthropy during their lifetime or at their death. At least 105 of the world's uber-wealthy have joined this select group

Wow, Buffett gave away 5% of his insane net worth to charities. What a generous guy.

Romney gave 16.4% of his income to charities in '10 & '11, yet the Obama worshipers consider him a greedy bastid.

I know I am late to this game, but as someone who makes a living helping people reduce/avoid estate taxes, here are a few thoughts:

First is a correction - for 2013 the Federal estate tax is a flat tax of 40% (not 55%) on the excess over $5,250,000. The 20% going to the wife is not taxed (Until she dies assuming she has more than $5 million). Assuming the trust for his son with the $7,000,000 life insurance policy was set up correctly, it will not be subject to estate tax.

Estate planning can be very simple, or very complex, depending on the primary goals. Bill Gates and Buffet's planning is most likely very simple -- I give what I can tax free to (fill in the blank), with the remainder to charity. However, when someone's goals and desires do not line up with charitable planning, it can get much more complex. There are almost endless ways to reduce estate taxes, but they all come with a price (some are very expensive to set up and maintain, others result is a loss of access or control). As with most all things in life, we balance the good and the bad and make the best choice we can.

Rfenst is correct. When you look at the historical legislative history for the estate tax, the purpose of the tax is an effort to prevent the creation of an American royal class.

At the end of the day, the 99% of us do not really need to worry about estate taxes (although there are a lot of other reasons to do estate planning other than taxes) -- for a married couple they can easily exclude from the Federal estate tax over Ten Million dollars.