How to Fix Social Security

[Sheriff Gonna Getcha]

Originally Posted by 70Chip

The death tax is like 50% so if you inherit a business from your parents that is worth 3 million dollars, which could be a small appliance store for example, you may be hit with a ginormous tax bill. Now, obviously Buffet isn't buying small appliance retailers but you see the point.

Estate tax (United States - Wikipedia, the free encyclopedia)

Buffett thinks this is one tax that's a good idea

Grover G. Norquist on the Death tax and Warren Buffett on NRO Financial=

I have mixed feelings about the estate tax and this is going to sound cold, but those business owners should have better business sense. Death isn't exactly an unforeseeable event. Someone who owns a closely-held/family-owned business and who wants his or her family to continue the business should buy life insurance naming the successors and/or the business itself as beneficiaries. Life insurance isn't cheap, but it shouldn't force well-run businesses to go under.