Here’s a surprise

But our paper is all that stands between the civilization of Manhattan and the end of the world!

But our paper is all that stands between the civilization of Manhattan and the end of the world!

Newspaper Association of America lobbies against raising estate tax. Hmm, what family-owned newspaper, ordinarily a huge fan of Obama and taxing other people, could be harmed by a return to a 75% estate tax?

7 Comments

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7 responses to “Here’s a surprise

  1. I know one heck of alot of estate and trust lawyers who are working 24/7 helping families with succession planning, structuring grantor trusts, moving large assets, like homes, to the next generation. Do it now folks. Come January 1, the Taxman Cometh and it isn’t going to be pretty. I’d rather pay a lawyer now than make it impossible for my children to inherit anything but the wind when we go.

  2. Interesting how advocates of redistribution of wealth don’t actually mean that. They really mean redistribution of income, thus ensuring the wealthy have less competition from the upwardly mobile.

  3. NRA

    Greg is on-target.
    Who owns WaPo? WSJ? “Inheritance for me, but not for thee.”

  4. AJ

    Best headline of the day is from Drudge:

    REPORT: Obama wants stimulus spending to offset ‘drag on economy from Obama’s proposed tax increases’…

    But the Newspaper Association is right. To return it to a $600,000 exemption would mostly penalize small business owners, small family farms, and what’s left of the middle class. The truly wealthy have protected themselves and will pass on their wealth intact. The current $5,000,000 exemption is reasonable and fair. BTW, Washington is insane: how can anybody plan for anything when they keep changing the rules of the game? 75%? I thought it used to max out at 50%, but I haven’t paid attention in quite a while.

  5. AJ

    What about the people in their late 70s and 80s and 90s who already have their succession planing in place? What are they supposed to do, just choke on it? The following video is a nice piece about what “we the people”, les citoyens, are up against. We’ve eaten just about enough cake.

    http://www.infowars.com/bankster-dictators-take-credit-for-america-thanksgiving/

  6. Balzac

    The Wall St Journal is owned by Rupert Murdoch’s News Corporation. The NY Times (a dinosaur staggering into the tar pits) is largely owned by the Sulzberger family.