43 Votes

Avatar forGrace

First buzzed by: Grace

Death and taxes: Big IRS bill looms for MJ estate (AP)

The Tax Man is in the mirror for the estate of the late King of Pop. Creditors and heirs of Michael Jackson hoping for a cut of his musical empire will have to line up with the Internal Revenue Service, which could lay claim to $80 million or more in federal estate taxes. » Full Story on Yahoo! Finance

Not a big MJ fan but it's just wrong to tax a person's estate after they have paid tax on the income and the interest on investments. I'm sure it won't get any better with all the taxation that is being discussed.

posted Jul 10, 2009 |
+4
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Stinkin' feds, always quick to swoop down and get their cut when somebody dies. Just like they always know when every young American man turns 18, but send a selective service card in the mail instead of a birthday card - self serving f***. Estate taxes, along with property taxes, and income taxes below a certain level are wrong and should not be imposed. I'm all for tax evasion any way you can get away with it. We all pay taxes whenever we purchase things at the store. The government should make due with only sales tax. It would encourage them to develop some dicipline in their own spending.

posted Jul 10, 2009 |
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Ben Franklin once said, "Nothing is sure in life except death and taxes." He is right the SOB Internal Revenue Service wants more after you are gone.

Do us a favor big government, get IRS off our backs.

posted Jul 10, 2009 |
+3
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I figure you're already paying 40% (at least) of your income for taxes. Has anybody ever figured out what the total is by the time they get done screwing you this one last time?

posted Jul 11, 2009 |
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I bet Michael Jackson is really worried about this.

posted Jul 11, 2009 |
+1
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Thomas is RIGHT. This is WRONG. It's time for the Fed. Government to be reeled in. Big time. Hopefully we can start with the next elections and it's not too late.

posted Jul 11, 2009 |
+3
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Don't even get me started on the IRS. The biggest organized crime out there. No one else will ever get away with some of the crocked things the IRS does. gggrrrr....

posted Jul 11, 2009 |
+4
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Abolish the IRS!

posted Jul 11, 2009 |
+4
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I don't like it, nor do I like the myriad of "laws" the IRS purports to follow. Regardless of how I feel about MJ, the fact is, if he died intestate, his estate will pay the price. How anyone with his purported wealth could have not been informed of proper tax planning procedures is beyond me. Listen, folks, the Uncle will LEGALLY take what you have unless YOU take action beforehand to prevent it!!! Estate planning isn't just for the rich and famous.

posted Jul 11, 2009 |
+3
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