Children inherit billions and pay no Estate Taxes
Duncan's wealth of approximately 9 billion should have been subject to a federal tax of 45%, how did he pay $0 in taxes? This was partially due to good estate litigation and sheer luck. George W. Bush signed a one year lapse in the estate tax in 2001 and the lapse went into effect at the end of 2009. This "lapse" will end January 1, 2011. Duncan left the majority of his estate to his children and grandchildren who, under different circumstances would have had to pay a hefty estate tax.
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