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Old 10-31-2010, 03:22 PM   #151
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What is the threshold for the estate tax anyway? When does it kick in? When we inherited in '93, nothing was taxed till after the estate's value reached $500,000.
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Old 10-31-2010, 03:42 PM   #152
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I think it will be 1 million in 2011.

And it will be graduated before it hits the top at 45% or 55%.

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Consider the estate tax. Congress had nine years to figure out what a new estate tax should look like. Instead, it let the estate tax lapse for 2010, something no one expected and few thought made sense — except those wealthy families such as the Steinbrenners, whose tax bill was reduced substantially when their patriarch passed away this year.

Attorney Joshua S. Rubenstein, national chairman of trusts and estates at Katten Muchin Rosenman LLP, said it was an “incredible irresponsibility” on the part of Congress to let the estate tax expire at the end of 2009.

“Nobody expected that Congress would never touch the law, and it's staggering to see what the elimination of the estate tax has done to the economy,” said Mr. Rubenstein. “At least five billionaires have died this year in the U.S. The revenues Congress lost from their estates — billions and billions of dollars — are just huge!”

Other billionaires besides George Steinbrenner who passed away include Mary Janet Cargill ($1.7 billion), Dan Duncan ($9 billion), Walter Shorenstein ($1.1 billion), and John Kluge ($6.5 billion.) At the top 45% rate in place last year for estates exceeding $3.5 million, those five families alone would have paid $8.7 billion in estate taxes this year if Congress had not allowed the tax to expire.

With so little time left before the year ends, tax professionals agree it is unlikely Congress will enact any retroactive legislation. Attempting to recoup some of those lost billions in estate taxes, for example, would only generate legal challenges by heirs who can afford the litigation.

By doing nothing, Congress will let the estate tax revert to pre-2001 levels, with a top rate of 55% and a $1 million exemption.
http://www.investmentnews.com/articl.../REG/310319971
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Old 11-01-2010, 11:15 AM   #153
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WASHINGTON -- Former Governor Sarah Palin launched a broadside attack on the news media Sunday, charging the industry with wholesale corruption in support of liberals and insisting that a local CBS affiliate was staffed with "corrupt bastards."

Coming to the defense of her preferred Senatorial candidate, Joe Miller, Palin aired some explosive accusations aimed at the fourth estate. Reporters, she said during an appearance on Fox News Sunday, had been caught on tape trying to find a child molester in the crowd at a Miller rally -- or, similarly, hoping to witness a bit of violence among the attendees -- in hopes of making the Tea Party candidate look bad.

Just last night it was revealed that, at the rally I had for Joe Miller on Thursday, it was revealed and we have the tape that proves it, that the CBS reporters, the affiliate in Alaska, conspired to make up stories about Joe Miller. We have the tape, Chris. I can't wait until it busts out all over the nation to show what it is that we, kind of what I put up with for two years now with the media, but what Joe Miller is faced with, in dealing with someone who feels, Lisa Murkowski, so entitled to seat that she and some of her people including some complicits in the media will do anything, they will stop at nothing.


[snip]

I'm saying that we have it on tape, the CBS reporters in the affiliate up there in Alaska are on tape saying let's find a child molester in the crowd as a supporter for Joe Miller, let's blast that. Let's concoct a Ron Paul moment there let's find any kind of chaos so that we can tweet an alert and say, 'oohh there's chaos, Joe Miller got punched.' That's sick. Those are corrupt bastards.


In all, Palin uttered the word corrupt or corruption in relation to the media three separate times on Sunday. In addition to the videotape she says she will reveal, she charged the Murkowksi campaign with orchestrating the firing of an Alaska conservative talk show host who didn't support her candidacy. In actuality, the host was fired for trying to gin up dozens of write-in bids for the Senate seat, a ploy for chaos that would hurt Murkowksi but also was un-welcomed by the host station.

"[S]tuff like that," said Palin, "it is corrupt. It's frustrating. It's why Americans are saying no more, enough is enough. We're going to turn this around. We are going to fight corruption in the media; we're going to fight corruption in politics."

YouTube - Sarah Palin: We Have Video of "Corrupt Bastards" In Media Conspiring Against Joe Miller
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Old 11-01-2010, 11:18 AM   #154
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Anchorage CBS Affiliate Caught on Voicemail Conspiring Against Alaska’s GOP Senate Candidate - Big Journalism

UPDATE: This appears to be the incident to which Palin was referring when she discussed the CBS affiliate conspiring against Miller's campaign. There is a transcript and audio of a supposed phone call made by the reporter. But there is no confirmation about the call's sincerity.

UPDATE: David Brock, CEO of progressive media watchdog group Media Matters, responds:

Sarah Palin has made serious accusations of journalistic malfeasance. Either Palin accurately described the tapes, or she did not. America's news consumers need to know the truth about these serious accusations. The public in Alaska needs to know the truth so they are fully and correctly informed before they cast their ballots Tuesday. Palin has a responsibility to release the full, unedited tapes publicly and to all media.

UPDATE: A spokesperson from CBS emails out the following statement

KTVA News is owned by the Alaska Broadcasting Co., not CBS. No CBS staffers were involved and CBS has no knowledge of and no comment on these allegations.

Meanwhile, Greg Sargent at The Plum Line reports that KTVA says the audio recording is legitimate but taken entirely out of context.
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Old 11-01-2010, 11:25 AM   #155
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Assume she's waiting to show this tape tonight to help sway votes.

I can't wait until she runs for office in two years. Her bashing of the media is going to come back to bite her in the ass.

Foxnews will of course give her the cushy interviews, but as soon as she meets with the "lame stream"; i don't think they'll hold back.
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Old 11-01-2010, 11:28 AM   #156
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But they'll just be picking on her-and biased because they're all left wing liberals. It will just work in her favor. She's got that thing down.
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Old 11-01-2010, 11:33 AM   #157
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Eventually people will figure her out. They started to in the last election, and it ended up costing McCain a lot of votes.

Her debating skills are poor, unless she starts throwing more "shout outs" during each one.

What O'Donnell has gone through is similar to how I see Palin getting treated.

She's an idiot, and the more she speaks, the more people figure it out.
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Old 11-01-2010, 11:56 AM   #158
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I sincerely hope you're right about that, BEAL.

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"[S]tuff like that," said Palin, "it is corrupt. It's frustrating. It's why Americans are saying no more, enough is enough. We're going to turn this around. We are going to fight corruption in the media; we're going to fight corruption in politics."
That's some funny stuff there, that is.

Angela
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Old 11-01-2010, 12:00 PM   #159
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Plus she's all ass kicky and ballsy when she uses words like bastards
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Old 11-01-2010, 12:32 PM   #160
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I'm surprised she uses such language, given her tendency to be able to "spot" supposed offensive comments/words in other people.

Angela
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Old 11-01-2010, 12:34 PM   #161
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Regardless of what the outcome is tomorrow, are we really gonna have 2 more years of that windbag idiot babbling on and on?

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Old 11-01-2010, 12:39 PM   #162
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Unfortunately.

The campaign for the Republican Nominee for President begins the morning of Nov. 3rd, and it's going to be a complete gong show.
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Old 11-01-2010, 01:07 PM   #163
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Next for GOP leaders: Stopping Sarah Palin - Mike Allen and Jim VandeHei - POLITICO.com

"Many of these establishment figures argue in not-for-attribution comments that Palin’s nomination would ensure President Barack Obama’s reelection, as the deficiencies that marked her 2008 debut as a vice presidential nominee — an intensely polarizing political style and often halting and superficial answers when pressed on policy — have shown little sign of abating in the past two years.

"There is a determined, focused establishment effort … to find a candidate we can coalesce around who can beat Sarah Palin," said one prominent and longtime Washington Republican. "We believe she could get the nomination, but Barack Obama would crush her."
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Old 11-01-2010, 01:14 PM   #164
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If she's smart, she'll stay a commentator on Fox News, work behind the scenes to mobilize that part of the conservative electorate that gets excited by her, and enjoy a long and distinguished (?) career as a partisan commentator.

Please note, I said "if."
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Old 11-01-2010, 01:25 PM   #165
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Quote:
Originally Posted by MrsSpringsteen View Post
"There is a determined, focused establishment effort … to find a candidate we can coalesce around who can beat Sarah Palin," said one prominent and longtime Washington Republican. "We believe she could get the nomination, but Barack Obama would crush her."
Exactly. If the Republicans want any hope in 2012, they would definitely do well to listen to this. It's kinda nice to see some in the GOP realize that.

Angela
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