fwiw she claims that her father's business was faltering when she inherited it and that most her wealth comes from her own business endeavours.

this is backed up by the following: she inherited in '93, first became a billionaire in '06 and now has $25+ billion.

[X] misogyny ITT.

so you're saying the la times piece is misleading?

Yeah I’m sure the run up in commodities prices since then has nothing to do with it.

I for one am shocked!

There are many taxes that inhibit economic growth and I don't believe estate taxes is high on that list.

I'm one of the most anti-tax individuals on this forum.

Estate taxes as they currently are is the last thing I'd waste my breath arguing about.

lolwat? The highest the estate tax got recently was 55% after a $675,000 exclusion. That seems like a good level, imo.

thought i read somewhere that the first 5 million is tax free in 2012 or something

The exclusion is 10m, not 675k. Its going down to 6m. As taxes go, the estate tax is pretty much the least objectionable.

All of the money that person has earned in their lifetime is after-tax dollars.

What makes you feel entitled to double dipping just because the person died? Estate taxes are indefensible.

http://en.wikipedia.org/wiki/Gina_Rinehart

Sure makes Oprah look shy and demure...

Yeah, just like the money I have is after-tax. And yet, when I give it to the guy at a 7-11 in exchange for a soda, it gets taxed. INDEFENSIBLE.

The other day I bought a subway sub. Subway had to pay taxes on my after tax money.

True story.

Actually the exemption is 5.12 million per person so 10.24 million for a couple in 2012. It is scheduled to revert back to 1 million, but imo will be extended.

Once the government increases exemptions like this it becomes tough to take them away.

http://en.wikipedia.org/wiki/Estate_..._and_tax_rates

Not sure where you got that it is going down to 6 million per couple.