If you have worked hard for five decades, made pots of money and now want to squander it all in Las Vegas on wine, women and baccarat, go ahead. If, however, you harbor the antisocial desire — stigmatized as such by America’s judgmental tax code — to bequeath your wealth to your children, this would be an excellent month to die.
I have a strange suspicion that, if we go over the "fiscal cliff" due to "Republican intransigence" and some "middle class taxes" go up for that reason, few will notice, fewer will lucidly point out and the "ethical" media will not bother to report that many unrelated taxes and expenses also just went up and that more will do so shortly thanks to ObamaCare.
If President Obama's splendid negotiating skills force the rich Obstructionists to back off, he will get credit for saving the impoverished middle class, punishing the fat cats and providing great medical care. If Republican intransigence is too powerful and he fails, the Republicans will get the blame for all tax and other increases imposed for whatever reason, and that will be fine for President Obama too.
It's great to be The King.
Is this about the inheritance tax? I believe the threshold amount is $5million, which should be enough to endow children without providing a more glorious memorial to ones accomplishments.