UnThreaded | Threaded | Whole Thread (26) | Ignore Thread Prev | Next
Author: cliff666 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76079  
Subject: Re: Traditional vs. Roth Date: 5/10/2005 6:14 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
Alstro.

I am a hundredaire.
But I am hopeful of being a thousandaire. lol
I'd have to win the lottery to be a millionaire.

-- MrMax --

Your original post seemed very concerned with estate taxes, yet you really have no estate to speak of? Better to spend your time (and money) creating that estate than fussing about what happens if ...

The estate taxes are being reviewed and changed continuously. My hope is that they would hit upon something like $5 to $10 million is below the estate tax threshhold, and then put a reasonable COLA on the number and then LEAVE IT ALONE.

The original rationale for the tax was to prevent the accumulation of enormous family fortunes, handed from generation to generation, tax free, amounting to a moneyed nobility. It hasn't worked very well, because those with large family fortunes bought enough votes in congress to riddle it with loopholes. As it is, anyone with an estate large enough to trip the estate tax can set up a family trust to avoid the tax. Like it or not, the tax is a paper tiger, which the rich use as a boogie man to scare people. "The Death Tax isn't fair! Vote the rascals out!" That's about it. There are still people who sometimes get to pay estate taxes, but that's poor planning on their part, or they are extemely wealthy.

Not true a few years ago.

cliff
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (26) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Macro Economics

Ringing the NASDAQ Bell
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement