Comments on: George Steinbrenner’s Heirs Inherit $1 Billion Tax Free http://www.consumerismcommentary.com/george-steinbrenners-heirs-inherit-1-billion-tax-free/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sun, 12 Feb 2012 20:01:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: David C http://www.consumerismcommentary.com/george-steinbrenners-heirs-inherit-1-billion-tax-free/comment-page-1/#comment-207848 David C Sat, 17 Jul 2010 15:32:28 +0000 http://www.consumerismcommentary.com/?p=8916#comment-207848 Of course, remember that there is no stepped-up basis this year either. Steinbrenner's estate *may* be better off under these circumstances (no stepped-up basis, no estate tax), but I'm sure there are estates out there that would be better under the old rules (estate tax due but stepped-up basis also exists). Of course, remember that there is no stepped-up basis this year either. Steinbrenner’s estate *may* be better off under these circumstances (no stepped-up basis, no estate tax), but I’m sure there are estates out there that would be better under the old rules (estate tax due but stepped-up basis also exists).

]]> By: Flexo http://www.consumerismcommentary.com/george-steinbrenners-heirs-inherit-1-billion-tax-free/comment-page-1/#comment-207819 Flexo Fri, 16 Jul 2010 16:31:18 +0000 http://www.consumerismcommentary.com/?p=8916#comment-207819 How many businesses? Very few if any. Particularly not family farms, the favorite common example, though the statistics show that's pretty much imaginary. How many businesses? Very few if any. Particularly not family farms, the favorite common example, though the statistics show that’s pretty much imaginary.

]]> By: CH http://www.consumerismcommentary.com/george-steinbrenners-heirs-inherit-1-billion-tax-free/comment-page-1/#comment-207816 CH Fri, 16 Jul 2010 14:27:47 +0000 http://www.consumerismcommentary.com/?p=8916#comment-207816 I don't think Steinbrenner's estate should be taxed because the death tax is just wrong and is simply confiscatory at 55%. How many businesses are going to have to be highly leveraged or sold altogether because of this tax since businesses are part of an estate? This is anti-business and anti-wealth in an economic climate where we should be anything but either. I don’t think Steinbrenner’s estate should be taxed because the death tax is just wrong and is simply confiscatory at 55%. How many businesses are going to have to be highly leveraged or sold altogether because of this tax since businesses are part of an estate? This is anti-business and anti-wealth in an economic climate where we should be anything but either.

]]> By: Evan http://www.consumerismcommentary.com/george-steinbrenners-heirs-inherit-1-billion-tax-free/comment-page-1/#comment-207794 Evan Thu, 15 Jul 2010 20:17:15 +0000 http://www.consumerismcommentary.com/?p=8916#comment-207794 "Steinbrenner is likely the richest American to pass away so far in this freakish — from a tax perspective — year of 2010" - I think actually someone died earlier that was richer: http://www.nytimes.com/2010/06/09/business/09estate.html?_r=1&partner=rss&emc=rss “Steinbrenner is likely the richest American to pass away so far in this freakish — from a tax perspective — year of 2010″

- I think actually someone died earlier that was richer:
http://www.nytimes.com/2010/06/09/business/09estate.html?_r=1&partner=rss&emc=rss

]]> By: Mr. Money Smarts http://www.consumerismcommentary.com/george-steinbrenners-heirs-inherit-1-billion-tax-free/comment-page-1/#comment-207793 Mr. Money Smarts Thu, 15 Jul 2010 19:26:30 +0000 http://www.consumerismcommentary.com/?p=8916#comment-207793 I have no problem with them missing the estate tax - I'm not sure I like it anyway. Being taxed for dying? Really? Hasn't that money already been taxed? I have no problem with them missing the estate tax – I’m not sure I like it anyway. Being taxed for dying? Really? Hasn’t that money already been taxed?

]]> By: Tom Dziubek http://www.consumerismcommentary.com/george-steinbrenners-heirs-inherit-1-billion-tax-free/comment-page-1/#comment-207791 Tom Dziubek Thu, 15 Jul 2010 18:35:35 +0000 http://www.consumerismcommentary.com/?p=8916#comment-207791 I'm sure "continuing to purchase lots of high-priced free agents" will be included in the stipulations of his will. I’m sure “continuing to purchase lots of high-priced free agents” will be included in the stipulations of his will.

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