- Dec 18, 2011
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Even when people do have wills, the government licks their chops when anyone with assets dies. They always get a big chunk. With the so-called death taxes, families of small business owners often lose everything because they have to sell the property and businesses just to cover the taxes. Those who worked hard to provide for their families mostly do it for the government these days. And the left doesn't complain because the more money government confiscates, the more freebies it can offer. Who cares if families of small businesses end up on welfare because they lose everything? Even when wealthy people die, the government makes out better than the families if the person didn't take every precaution to make sure their families came first. That's how much today's government cares about you.
"While Prince was probably not all that concerned with the death tax—particularly since his early death was unexpected—he probably didn’t change his behavior all that much in response to the death tax. But most people who pay the death tax are not like Prince—they don’t have hundreds of millions of dollars, and some don’t even have a hundred thousand dollars in cash if their assets are all tied up in the value of their family business.
When the owner of a family business dies without leaving behind a large pile of cash or other liquid assets, the family often has to sell the business to pay the death tax. That can have devastating employment consequences. A 2014 analysis of the death tax by The Heritage Foundation found that its harmful effects on savings, investment, and capital reduces employment by 18,000 jobs each year.
While it’s tempting to think that the government’s reach into Prince’s massive estate isn’t all that harmful to the pop star or his heirs, the death tax has been devastating to many small businesses and the communities in which they operate."
http://dailysignal.com/2016/04/29/why-over-half-of-princes-estate-will-go-to-the-government/?utm_source=facebook&utm_medium=social&utm_campaign=thf-fb
"While Prince was probably not all that concerned with the death tax—particularly since his early death was unexpected—he probably didn’t change his behavior all that much in response to the death tax. But most people who pay the death tax are not like Prince—they don’t have hundreds of millions of dollars, and some don’t even have a hundred thousand dollars in cash if their assets are all tied up in the value of their family business.
When the owner of a family business dies without leaving behind a large pile of cash or other liquid assets, the family often has to sell the business to pay the death tax. That can have devastating employment consequences. A 2014 analysis of the death tax by The Heritage Foundation found that its harmful effects on savings, investment, and capital reduces employment by 18,000 jobs each year.
While it’s tempting to think that the government’s reach into Prince’s massive estate isn’t all that harmful to the pop star or his heirs, the death tax has been devastating to many small businesses and the communities in which they operate."
http://dailysignal.com/2016/04/29/why-over-half-of-princes-estate-will-go-to-the-government/?utm_source=facebook&utm_medium=social&utm_campaign=thf-fb
