Today the estate tax, tomorrow the corporate tax.
The proper tax on estates is easy: ALL assets are marked to fair market value and ALL capital gains are realized on death and transfer in the estate to heirs. There shall be NO deduction for anything. The rate shall be the same rate as for the income tax. Asset transfers to spouses shall defer the tax until the spouse passes. That's it.
The gift tax is integrated into the estate tax: ANY gifts of appreciated property shall cause capital gains to be realized and the tax paid by the donee or donor, as specified in the gift. No other gift tax shall exist.
Simple. Easy. Fair. The Bunkerman approach to government
Word of the Day
"Adumbrate" - verb [$10]
Adumbrate means to give a sketchy outline; to foreshadow.
Sentence: In his blog this week, Bunkerman adumbrates a K. I. S. S. approach to true tax reform. Hello Barry, are you reading?
About Me
- Bunkerman
- I have a pioneer mentality. My wife & I live in the woods - neighbors aren't visible except slightly in winter. Our "bunker" - hehe, really a fine home & barn - has plenty of security. We have four dogs: Krypto (age 9, Kelpie), Ava (age 13, Rat Terrier), Sky (Kelpie, age 5) and Lucky Star (age 1, kelpie). I don't take crap from anyone anymore, having enough resources & gear stocked up to survive in any circumstance. I have three degrees from Harvard including a Ph. D. in a physical science, and an MS in Management from MIT. I worked as an investment banker for about 25 years, mainly in secured finance, at three major Wall Street firms and for the last 17 years with my partners at our own firm. I'm semi-retired now, managing some private corporations and business interests and doing my own trading & investing. This is not to boast, but to give you an idea I know a little about some subjects from experience. The photo is my 1943 M16 half-track which I am restoring. These armored vehicles were ubiquitous in the US Army in World War II and Korea. It's driveable.
2 comments:
agreed Bman
senator levin says GS lied and misled it's clients................so let's see........he takes 1 trade and makes a broad judgement
i bet GS are very happy they have their accounts at GS....and i bet they are green......if not...they would fire GS
pirhanas my ass
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