It’s a Good Thing George Steinbrenner Died When He Did, Because of the Estate Tax

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07/16/2010 3:03 PM |

Steinbrenners dream home cost like a billion dollars of taxpayer money in infrastructure and tax breaks, also.
  • Steinbrenner’s dream home cost like a billion dollars of taxpayer money in infrastructure and tax breaks, also.

Great baseball man and terrible, terrible, hilariously terrible Senator Jim Bunning is against reintroducing the currently lapsed estate tax, and just observed, in the Senate finance committee, that “Because [George Steinbrenner] was smart enough to die in 2010, there is zero tax liability on the estate tax,” echoing a plutocratic talking point from Rush Limbaugh‘s racially charged sending-off.

Yes, yes, what a good thing, yes, to die at precisely the right time to ensure the maximum payoff for your heirs. Permanently repealing the estate tax—a tariff on the transfer of previously unrealized (and untaxed) wealth—is the only logical solution, it will ensure that top earners aren’t discouraged from ever dying.