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by Spooky23 1709 days ago
That’s what the talk radio shills and similar right wing folks tell you.

The reality is that when you have enough cash to justify, you roll your assets into a series of South Dakota trusts and that money is perpetually tax-free.

Another tactic is to use Nevada and Delaware corporations to buy real property everywhere, and use that to avoid most taxation.

1 comments

I see. Estate tax is a right wing radio conspiracy theory…
For most people, there’s little to no exposure.

The exotic trust structures talked about here are money laundering structures, which exist because gullible voters are duped with tales of widows losing houses and farm families losing the mythical family farm. There’s a reason why the home base for this is a state with weird banking laws where there’s more cattle than people.

Mitt Romney’s (I point him out because of his fame in this regard, he’s not unique or alone) great-great-grandchildren will be living off some untaxed trust 150 years from now when we’re all dead.

Corporations are people, my friend.

-- Mitt Romney

Not sure if worse than his descendants living tax free hundreds of years for now, is having his image whitewashed for his "bullwark against Trump" that weirdly only manifested in the latter part of his term.