Warren Buffett And George Soros Want Higher Estate Tax Than Obama Proposes
Richard Rockefeller spoke of the essential role of philanthropy in strengthening the fabric of society, and the role of a responsible estate tax structure in providing incentives for giving. He added, “If the world I leave behind is one of gated communities, growing inequality and misery among the have-nots, downward mobility for the middle class, a degraded environment and a rotting social and physical infrastructure – then their inheritance will be a shabby one – no matter how much money they get.”
Can Real Estate Professionals Beat The 3.8% Obamacare Tax ?
Suppose our broker owns a building that is triple net leased to a credit tenant for a very long term. He will probably not be able to get out from paying NIIT on the income stream from that property. If on the other hand he owns a few three-deckers and deals with the tenants himself, by jumping through the proper hoops he can avoid NIIT on the income from the housing units.
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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.