Time To Change Your Estate Plan – Again
I sometimes think that the estate and gift tax system is actually a white collar jobs program for college graduates not quite smart enough to become physicians or engineers. It redistributes wealth from the upper class to the upper middle class. Too bad this is going to ruin the holidays for them.
House Tax Bill Would Help Not For Profit Sponsors Of Low Income Housing Partnerships
What the legislation is doing is saying that a Section 42 ROFR was never a common law ROFR. And to be fair that is what a lot of people assumed. Federal courts, so far, have not agreed. But now maybe Congress is setting them straight on what it really meant over thirty years ago.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.