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re: IRS collected a gargantuan $7 billion estate tax from a single source, nobody knows who
Posted on 4/18/24 at 4:10 pm to HailHailtoMichigan!
Posted on 4/18/24 at 4:10 pm to HailHailtoMichigan!
Please leave my family alone. This news has brought up a lot of pain. RIP, gramps 
0
Posted on 4/18/24 at 4:18 pm to bbvdd
quote:
And that is one of the most egregious bullshite taxes.
Should be stopped, but no ones cares. Taxes should not be this difficult.
Posted on 4/18/24 at 4:20 pm to LSURussian
quote:
My first guess is it was oil man T. Boone Pickens.
Wasn’t he “only” worth a few billion?
Posted on 4/18/24 at 4:22 pm to HailHailtoMichigan!
Looks like the IRS figured out how to pay for those 80,000 new agents
Posted on 4/18/24 at 4:25 pm to HailHailtoMichigan!
It's funny how this "gargantuan" amount is an absolute nothing/drop in the bucket compared to our national debt.
Posted on 4/18/24 at 4:28 pm to bbvdd
quote:
And that is one of the most egregious bullshite taxes.
Can’t agree. I would lower income taxes to about 10% and tax the shite out of estates instead. That would allow producers to keep what they earned and tax worthless grifters who didn’t do shite.
Posted on 4/18/24 at 4:29 pm to HailHailtoMichigan!
Writing that check was the last time I "weeped."
Posted on 4/18/24 at 4:35 pm to GeauxTigers123
quote:
2) I think there are some super rich people out there that Forbes doesn’t know about. Just a hunch.
You could win one of those billion dollar powerballs and invest 500 mil at a 10% annual return and in 30 years be worth 2 billion if you don’t blow money. I imagine a lot of oil families in Texas and Oklahoma made hundreds of millions and invested it to be worth way more than we realize. You don’t realize how much money that is. It blows my mind how people like Gates and Musk manage their wealth because it can grow so exponentially at that level even with the most conservative investments
Posted on 4/18/24 at 4:39 pm to deltaland
quote:
invest 500 mil at a 10% annual return
Posted on 4/18/24 at 4:43 pm to deltaland
quote:
It blows my mind how people like Gates and Musk manage their wealth because it can grow so exponentially at that level
Read something yesterday that Gates make $1.3 million per day off dividends from 3 stocks.
Posted on 4/18/24 at 4:49 pm to Penrod
quote:
tax worthless grifters who didn’t do shite
Please describe, in detail, what makes one a "worthless grifter who didn't do shite" in this situation. Thanks in advance.
Posted on 4/18/24 at 4:49 pm to LSURussian
quote:
It takes so long for an estate to be settled and assessed the person who died who generated this estate tax could have passed away a decade ago.
Right.
Posted on 4/18/24 at 4:50 pm to LSU Patrick
quote:
Elvis
Died with 1 million in his checking account and 100,000 in his savings account. Sums up Elvis perfectly
Posted on 4/18/24 at 4:53 pm to fwtex
Off the wall guess. The unknown inventor of Bit Coin who didn't properly plan for the sucess of the coins he owned.
Posted on 4/18/24 at 4:54 pm to ronricks
quote:
Died with 1 million in his checking account and 100,000 in his savings account. Sums up COL TOM PARKER perfectly
Fixt
Posted on 4/18/24 at 5:00 pm to HailHailtoMichigan!
Sheldon Adelson died in 2021. He was worth about $35 Billion.
And just because the tax is attributed to Texas, doesn't mean they lived there full time. Like Delaware (#2 on the list) it is a tax haven for income.
And just because the tax is attributed to Texas, doesn't mean they lived there full time. Like Delaware (#2 on the list) it is a tax haven for income.
Posted on 4/18/24 at 5:04 pm to HailHailtoMichigan!
Jacob Rothschild died this year. Sure he has assets here in the states. Family probably paid it in cash through carrier
Posted on 4/18/24 at 5:08 pm to HailHailtoMichigan!
Knowing the IRS it’s probably a $1000 tax bill and $6.99B in interest
This post was edited on 4/18/24 at 5:47 pm
Posted on 4/18/24 at 5:13 pm to HailHailtoMichigan!
quote:
IRS collected a gargantuan $7 billion estate tax from a single source, nobody knows who
Feds:
Thank the anonymous donor for funding the USA for 4 seconds
Posted on 4/18/24 at 5:29 pm to HailHailtoMichigan!
As others have said, this could have been a death years ago that has been tied up in negotiation with the IRS for years, and finally paid.
As far as bad planning... well... maybe someone REALLY wanted that step-up...
As far as bad planning... well... maybe someone REALLY wanted that step-up...
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