There could possibly be an estate tax making death more of an incentive for some?

The estate tax made by former President, George W. Bush, expired at the end of 2009. At the time, the Senate literally encouraged rich people near the end of their lives to postpone their terminal engagement with the choir invisible and stay alive until New Year’s Day, 2010. That way, their families would keep away from having to pay a 45 percent estate tax (or death tax, if you prefer). But the estate tax appears to be on its way back in 2011, unless Congress goes against the consensus of experts and actually changes the law.

There could be less exemptions with an estate tax at 55 percent

The Wall Street Journal reports the top estate tax rate will rise to 55 percent, when the previous exemption of $ 3.5 million per individual taxpayer will fall dramatically to $ 1 million. That will rope as many as eight times more taxpayers to the estate tax arena, possibly putting some in a position where they may even have to borrow money. An example of how the new estate tax would affect a $ 5 million estate is given by the Journal. The added estate tax for someone who dies on January 1, 2011, would be over $ 2 million. $ 8 million would be the cost if the estate was $ 15 million. ”I want my cash now” is being said by all the heirs.”

'The largest increase in a major tax that we’ve ever seen’ is what Thorndike says

Many people care little about rich individuals losing money. However, this change in the way estate is taxed is dramatic. Joseph Thorndike of the nonprofit organization Tax Analysts told the Journal “a jump from zero to 55 percent would be the largest increase in a major tax that we’ve ever seen” and a huge pay day for the government and Internal Revenue Service. Now you will find people making decisions based off of the death incentive that comes from the estate tax. Congress has had numerous opportunities to soften the upcoming blow, but no action has been taken as yet, with fall elections on the line. Many unanswered questions – like whether retroactive extension to the current zero-level estate tax will be approved – weigh heavily on the minds of estate holders and their kin.

Estate tax suicide is prohibited by doctors

Money, or even the estate around it, is not worth the life of a human. This is something any doctor will tell you – it ties into their Hippocratic Oath – but not all patients are listening, including those sweating out the estate tax problem. They partake of such morbid ventures as suicide tourism, where the estate holder near the end of life travels to a nation with aid-in-dying laws. Switzerland is the only place where doctors are allowed to extend the service of assisted suicide to those from one more country although the Netherlands also allows assisted suicide, as outlined by the Wall Street Journal.

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Wall Street Journal
online.wsj.com/article/SB10001424052748703609004575355572928371574.html
Oh yeah? Well, Bill Gates’ dad likes it!
youtube.com/watch?v=ZQ_jxLKbbDo