Steve Jobs may have died avoiding Estate Tax

Fox Business | 09/12/2011 | Fox Business

[scooby321]

I heard a Commentator say that Steve Jobs created a Trust before his liver transfer to avoid Estate Taxes to his children. He wasn't sure that he had to pay a Gift tax on the transfer of 3 homes, 30 Million Shares of Apple and 120 Million shares of Disney.

[rollo tomasi]

Take a look at Job's late ‘90s contributions and mid 2000’s and Apple as a whole.

[Renegade]

Mickey Mantle did it too!

[Myrddin]

The hero of the leftist capitalist evaded avoided his fair share of death taxes. Which I agree with him on.

Avoidance is legal. Evasion is criminal. You can bet his lawyers assured avoidance.

[rollo tomasi]

Right before Jobs’ second “Reinassance”. Heck, seems he was a big fan of “the One” as well in 2008. This was just a quick search. Hard to believe you did not think Jobs was “out there” politically.

http://www.newsmeat.com/billionaire_political_donations/Steve_Jobs.php

[RedWhiteBlue]

Sorry for being off message, but how did he get a liver transplant? Nobody with cancer is eligible for a transplant and he had cancer two years before his transplant. There wasn’t enough time to be declared cured.

The way that I understand it, cancer practically puts you at the top of the list for a transplant.

I know someone that has non-alcoholic cirrhosis, and she will eventually be put on the list to get a liver transplant (when it gets bad enough).

The way she explained it to me, is that the list is based on a point system, and you get points based on what is going on with you medically. The points range from 0 to 40, with 0 being the best and 40 being the most medically urgent. When someone has liver cancer, that is an automatic 20 points, so they get a big jump over everyone else.

That doesn't seem logical to me. How could they be certain that the cancer wasn't metastatic, and therefore the new liver wouldn't fully take care of the cancer and affect whether or not the patient had a good prognosis?

In any event, here is a link that explains the process: MELD and the Waiting List for Liver Transplant

It mentions that hepatic cancer (and some other factors) puts you higher on the list, and also that the average points of those undergoing transplant is 20. So that 20 points given for cancer pretty much gives that patient fast priority.

[Balding_Eagle]

He may have not have been an outspoken Liberal, but as Rush has pointed out time and again, a Liberal he was.

[sten]

(With dripping sarcasm) For the children.

actually, it's "for the GRAND children" now....

[IDontLikeToPayTaxes]

He earned it, he paid tax’s on it while he was alive, why should he see what he earned and paid tax’s on get screwed over by the Government, and taxed again?

Holy crap, people! Enough with the damned apostrophes!

It's TAXES

[Venturer]

No doubt he is a hypocrit-—aren’t they all?

Any of these people who want to pay more tax’s can easily do so, anyone who says they want to pay more tax’s is either full of sh1t, or insane.

[Venturer]

Well ExcuuUuuuUUuuUUuse me.

[Bubba Ho-Tep]

So in the last seven years of his life he made not one political contribution.

[Right Wing Assault]

He donated less than a quarter-million over 22 years and nothing since 2004? Cheapskate.

[rollo tomasi]

Some have convictions that match their actions. Although Limbaugh lacks offspring, (None that we know about) I am sure he is “protected” by all means possible. Several other billionaires exist that fight against their self-interests (The bubble that exists to hamper the start-ups) in terms of the political arena. The praising/excusing of the “I am keeping mine, time to shove laws down your throats by my rented out politicians that will take yours" hypocrites is perplexing on a conservative forum which promotes Free Enterprise.

[Arthur McGowan]

If a person is an organ donor, shouldn’t his death taxes be at least reduced, since he isn’t entirely dead. Perhaps they could do it by percentages. The bigger your liver is, or the more organs you donate, the more your death tax is reduced.

[Arthur McGowan]

If a person is an organ donor, shouldn’t his death taxes be at least reduced, since he isn’t entirely dead. Perhaps they could do it by percentages. The bigger your liver is, or the more organs you donate, the more your death tax is reduced.

[BunnySlippers]

It’s called “estate planning”. Everyone does it. Lefties and righties.

[Arthur McGowan]

What do you have against apostrophe’s?

[TheOldLady]

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[rollo tomasi]

That was just Federal and personnel (The wife has a mile long list as well as Apple), plus timing is everything it seems (LOL at the Pelosi contribution where she won by over 80% that year, wonder why he gave, hmmm...) I guess collectivist hypocrisy is fine and dandy with you.

[nascarnation]

Outstanding post !!