More Than Half of America’s 100 Richest People Exploit Special Trusts to Avoid Estate Taxes | Talking Points Memo

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This story first appeared at ProPublica. ProPublica is a Pulitzer Prize-winning investigative newsroom. Sign up for The Big Story newsletter to receive stories like this one in your inbox.

This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1388940
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But boy, if you miss 25 cents on your taxes as an average person, the IRS will be all over your ass.

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More Than Half of America’s 100 Richest People Exploit Special Trusts to Avoid Estate Taxes

“That makes me smart!”

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Will Congress end a tax shelter that has cost the Treasury untold billions?

No.

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JUst another rivet on the way to building the bridge for a permanent aristocracy.

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Money is speech.

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Trusts: the ultimate shell company.

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The rich folks who do this are untrustworthy.

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From reading this one might get the impression that rich people are assholes who can’t be rich enough.

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Those mega-yachts aren’t gonna pay for themselves, now are they?

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I wish someone would trust me.

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Manchin, Sinema, Gothheimer, etc want this to continue.

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Especially the ones that come with the Roy family.

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I can’t wait until October 17th!

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I think that permanent aristocracy is already there.

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It’s far easier to screw with some middle class slob who’s in over his head. The IRS walks into a roomful of tax cheat lawyers and piss their pants.

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Naw… There’s such a revolving door that it’s just, “Hey Bob, haven’t seen you in a while! Looking forward to getting out of my government job writing tax regulations in your company’s area. I hear you’ve got some vacancies?”

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I assume Manchin and Sinema will have, “grave reservations” about looking into the wealtheist
.001% tax dodges.

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But if we get rid of GRATS, the family farm will be lost! What will Ma and Pa do?

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Thanks for posting that, Clutch. That’s one of the best exchanges in the whole movie. :+1::wink:

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Yeah, I think youre right. If its NOT permanent, its damned close. We’re hanging on by our societal fingernails. :confused: The only thing I see keeping it from being a permanent aristocracy is a complete collapse. The economy, society, whatever…

Think of the poker game analogy: If One player wins all the chips, there’s no more game. The .01% are the metaphorical poker player Hoovering up all the chips. So It feels like we’re getting close to that point. I really don’t know how much more $$$ the ultra rich can wring out of society. :face_with_raised_eyebrow:

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