FishingBanter - View Single Post - OT

**[email protected]** · October 1st, 2010, 01:10 AM posted to rec.outdoors.fishing.fly

On Thu, 30 Sep 2010 19:04:06 -0500, wrote:

On Thu, 30 Sep 2010 18:59:40 -0400, Tom Littleton wrote:

I have to admit that I've always been intrigued by Andrew
Carnegie's idea of a 90% inheritance tax, but the 1950's tax code works
just fine the way I see it, as well.
Tom

And you might wish to consider what folks like Carnegie did with their money -
while they certainly gave a lot away, they sure didn't leave the kids,
grandkids, etc. eating out of dumpsters - do some quick research into Bessemer
Trust (the Phipps family), the various Rockefeller trusts, the Kennedy stuff,
etc.

NB - the reason I suggested others was that Carnegie only had one child, a
daughter, who was made trustee of the primary trust he set up - even with a 90%
scheme, there would have been little "inheritance" to tax, yet his only heir
could have still lived like, well, someone who had just inherited the bulk of
Carnegie's estate.

R