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May 30, 2008

Death by Taxes: Seniors May Plan Their Demises to Maximize Their Bequests

Death by Taxes: Seniors May Plan
Their Demises to Maximize Their Bequests

By STEPHEN MOORE
May 30, 2008; Page W11
A few weeks ago, I gave a talk about tax policy to a group of elderly people at a ritzy country club in Jupiter Island, Fla. I reminded the audience that the estate tax is scheduled to fall from 45% today to zero in 2010, but then rise all the way up to 55% in 2011. I joked that what we have here is the "Throw Mama From the Train Tax." I even playfully surmised that by this time next year, when kids visit the nursing home they'll be pleading: "Come on, Grandma, hold on for just a few more months." But then in late 2010 it will be the opposite: Heirs will be disconnecting their parents or grandparents from life support or slipping arsenic in their Vodka Tonics....

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