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Norman Goldman

Norman Goldman

Posted: July 16, 2010 12:14 PM

Rush Limbaugh Should Use the George Steinbrenner Tax Strategy

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AN OPEN LETTER TO RUSH LIMBAUGH

Dear Mr. Limbaugh:

Your comments on air regarding the recent passing of George Steinbrenner and his estate tax implications were thought provoking. As you accurately stated, the federal estate tax is zero this year -- and this year only -- and thus Mr. Steinbrenner's family (and others of considerable wealth) will be spared paying taxes to the federal government based upon the value of assets, including (in this case) the New York Yankees. Senator Bunning of Kentucky echoed your remarks in the U.S. Senate at the same time as your statements on air. Apparently, this issue is being very closely watched by the richest Americans -- as it should be -- since you and they are the only ones who actually pay the estate tax.

Reflecting upon your comments, it seems to me that, given your antipathy to taxes on the super-rich, a valuable opportunity is being presented to you, Senator Bunning and the other elites of (largely) the Republican Party (e.g. the corporate business/Wall Street world) which you would be hard pressed to ignore. Since the estate tax is reinstated to the 55% level (for the wealthiest people) on January 1, 2011, you should ensure your own end by midnight on December 31, 2010. Since your net worth is reportedly near a billion dollars, you would be saving your heirs approximately $550 million dollars!

Indeed, think about the consequences of NOT dying before 2010 is over -- the federal government will take your hard earned money and SPEND it! Perhaps they will spend it on minorities, including BLACK PEOPLE, and even (perish the thought) the health care of BLACK PEOPLE! Heck, they may even just hand your money directly to Donovan McNabb! Leaving this world on YOUR terms before the year (and the loophole) expire means you can leave your fortune TAX FREE to LOTS of WHITE people who will know exactly what to do with it! You can even leave it to the Tea Party! YOU are in control, not that that smelly, old, evil government!

Look on the brightest side -- because you can start planning your death now, you can do a "Farewell Tour" -- indeed, the ULTIMATE farewell tour! You can even emulate LeBron James (I know, he's black, but that's just the way these things go sometimes) and have your demise done LIVE in a one hour ESPN Special on New Year's Eve!

Also, the U.S. financial picture will benefit because, rather than having our socialist government frittering away YOUR money, spendthrift wastrels that YOU designate will quickly spend your fortune and zip that cash right back into our economy! Your patriotic credentials will be sealed for eternity -- literally!

This is all a perfect win, win for the wealthy -- and befitting the importance of the event, I suggest a name for it -- the Final Avoidance Tax plan (The FAT plan). Perfect, don't you think? However, if that does not float your yacht, how about "A Rush to Judgment Day"?

This is truly the American spirit in action - how the right wing wealthy can avoid paying taxes, help the economy, and designate where one's fortune ends up, with NO government interference!

And, the Supreme Court made it EASY for you and your buddies! Look at their recent gun rulings -- they paved the path for you to get all the guns you want -- such an easy way for you and your compadres to exit life, with exit wounds! You can even choreograph the event -- synchronized shooting, like in the Olympics! Understanding, however, that this may be too much for you, we can always ask Dr. Kevorkian to help out. While I have not inquired, I suspect he'd be willing.

As a licensed California attorney, and in the spirit of cooperation and bipartisanship that President Obama has been seeking, I will be happy to lead a team of highly qualified estate lawyers to assist you in the distribution of your worldly assets according to your wishes -- absolutely free of charge! While you can continue to hope he fails, certainly, you can enjoy the irony of using the President's calls for bridging differences to take advantage of my offer of free legal services -- after all, a progressive radio host/trial lawyer is offering to work for free to help the leading right wing radio host keep the government's grubby hands off of YOUR hard earned pile!

Mr. Limbaugh, since you started with the concept, I believe it is not only wise, but fitting that you follow Mr. Steinbrenner's tax avoidance strategy. Now, all YOU have to do is pass away before the estate tax loophole does!

If you would contact me as soon as possible, we can undertake the plan with the undertaker before it's too late. In conclusion, if you will pardon the expression, when it comes to paying estate taxes in 2010, why retire when you can expire?

Sincerely,

Norman Goldman

 

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