Well, that was 2001, and people did as you suggested, and voted in people that raised the exemption amount. It changed every year for a while as part of the Bush tax cuts, as they decided to draw down on revenues gradually. The tax-free year was an accident—it was supposed to spur Congress to act to set in a more…

Also, State taxes may operate differently. I'm talking strictly federal income tax.

But your last point is correct—it can be a blunt instrument and be an overinclusive tax

There are still ways that you can avoid the estate tax. There's a free transfer to the surviving spouse, and you can take advantage of I believe a $1.2 million lifetime gift exception to your offspring. In addition, you can utilize trusts to avoid the tax but still insure an income for children. And per your…

Warren Buffett had a quote: "[Children should be left] enough money so that they would feel they could do anything, but not so much that they could do nothing." [www.accesswealthstrategies.com]

The "estate tax" kicks in at varying levels, depending on the year—I believe it was as low as 1.5 million, was raised to I believe 5 million at one point, and for one year, was totally absent (the year Steinbrenner died).

One of my favorite albums of the year.

Here's the best philosophical answer that I've come up with: what did YOU do to earn that money? Why should one receive a windfall for doing nothing at all? There's a reason why the estate tax doesn't kick in until an obscenely large amount—we want to allow people to pass on money/items so that their loved ones can…

+1

I think I now have to change my vote

I refuse to believe there's actually a city called "Mattoon".

Ha!

Even Moses led them out of the desert at some point.

How goddamn Prince Valiant remains in the comics will always remain one of life's great mysteries.

Ha!

+1

Things Sergio treats like a ragdoll: 1) his 4-iron; 2) Jane

Jeez, another great one

Hilarious

That's good to hear. It can be tough to land a joke like that, so it's good to have some feedback. Thanks.