Reflections of a BizDrivenLife

A Technology Entrepreneur Shares his tips on how to win in Business… and in Life!


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About Me:

I may be a learned scholar, a successful businessman, or a good father and husband, but until I am all three, I have not succeeded. Wilson Ng

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How Much should you Benefit from Inheritance?

March 8th, 2007 by Administrator

I am not saying that I am  pro or con but certainly this is more than just what I would stand to pay, and how much my family would benefit from my efforts.  On a large context, it tries to understand the basic problem on how much should a man should benefit from another man’s labor and by which means.

Should it be to each his own - I do my best for myself and family as in a free enterprise, or should government have a hand in dividing everybody’s fruit of labor to insure more equity, and therefore a better society for all?

Washington Wire - WSJ.com : Gates Opposes Repeal of Estate Tax

Microsoft Corp. Chairman Bill Gates told a Senate panel today that he opposes a repeal of the federal estate tax.

Tax-cut legislation enacted in 2001 reduced the estate tax rate and provided for 10 years of increasing exemptions. For 2007, the top estate tax rate is 45% and the exemption is $2 million. Under the law, the tax is fully repealed in 2010 but will be revived in 2011 with a top rate of 55% and an exemption of $1 million. Pending legislation proposes making the full repeal permanent.

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