It’s a Great Time to Be Rich.

Bloomberg Business Week reports.

A bonanza of new and extended tax benefits could make it as easy as ever for the rich to stay that way.

Under legislation approved by the U.S. Senate on Wednesday, Dec. 15, and now moving on to the House, savvy wealthy Americans would be able to capitalize on an environment in which their tax rates on income and investments remain at historic lows. Also, new rules would make it possible to pass on fortunes to heirs with less fuss and lower taxes than all but a brief period of the past 80 years. It’s a far cry from the 70 percent bite the federal government took out of the largest incomes and estates as recently as 1980.

“The climate we’ll have after this legislation is extremely favorable for wealthy families,” says Jeffrey Cooper, a professor at Quinnipiac University School of Law and a former estate planner who has studied the history of U.S. tax law.

Applause

Couldn’t you just weep? With joy, of course.

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About greengoddesslove

Gosh, I dunno. I'm a human adult who is interested in just about everything. Life is interesting. Everything else is gravy.
This entry was posted in Billionaire, Commentary, Economy, Policy, Politics, Wealth and tagged , , , , , , , . Bookmark the permalink.

2 Responses to It’s a Great Time to Be Rich.

  1. Shawn says:

    An excellent blog, and great Facebook postings.

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