george steinbrenner

George Steinbrenner never stick to synchronize with a major league fastball, but his death was the timing is impeccable.In his death this year, the New York Yankees' billionaire owner, found the sweet spot in the U.S. tax code, so this earth in a year when congressional impasse led to the inheritance tax due, the heirs to save potentially hundreds of millions of dollars .In the past year he died, and tried to transfer the property to his children or grandchildren, will face a 45 percent tax. There he lived until the following year the figure was 55 percent. But Steinbrenner's death this year, like the three other well-known billionaires who died in 2010, his heirs and give you a break.Steinbrenner fortune Forbes estimated at $ 1150000000 last year.

The year long interruption of inheritance taxes, die in general is very rich, cost the U.S. Treasury is estimated at $ 14800000000 in 2010."This is the middle of a terrible recession, the idea of giving billionaires a massive tax bill break obscene," id Bernard Sanders (I-Vt.) on Tuesday. "Not all of the four dead billionaire families do not pay taxes - Steinbrenner in the last." Thousands of millions will be lost. It should be treated Reality die now. "In the absence of a federal inheritance tax from Bush's tax cuts 2,001th The Senate Finance Committee has already wrangling, the hoe, the drug addict. Three senators - Sanders, Tom Harkin (D-Iowa) and Sheldon Whitehouse (DR.I.) - A measure proposed last month would satisfy the growing property tax value of 3.5million more than the U.S. dollar, rising 55 percent met A further 10 per cent of estates subject to the multimillionaires.Opponents say that the inheritance tax is unfair because it taxes income twice, once when earned and again when transferred to the heirs.