You can say a lot of things about Yankee owner George Steinbrenner but you can never say enough about his ability to generate headlines. His passing on the day of the All-Star game assured him a spot in the opening lineup. He would undoubtedly like that.
However, old George was worth billions with a B – not millions. Now, thanks to the Obama White House, his family will benefit from the nation’s lack of a federal estate tax this year. I have lost my father and I don’t want to make light of their loss, especially when your Dad is such a giant presence. However, the family has been spared millions in taxes, perhaps as much as 55%.
Steinbrenner lived in Florida. If he was a legal resident of that state (and let’s presume that he was), there is no state estate tax either.
I’m just saying this country is in such disarray financially and Obama can barely hold it together…………meanwhile, wealthy people have died this year and don’t owe one cent to Uncle Sam. Talk about a Grand Slam!