April 21, 2009 |
The Austrian city of Linz has acted to return a masterpiece by Gustav Klimt to the heirs of a Jewish woman killed by Nazis in the Holocaust. Mayor Franz Dobusch has recommended the painting of a woman, believed to be worth about $19 million, be transferred from Lentos art gallery to the descendants of Aranka Munk, the city said. The city cited the findings of an independent expert, Sophie Lillie, who confirmed the painting had been seized from Munk by the Nazis after she was deported to a concentration camp where she died in 1941.
December 22, 1985
With multimillionaires moving their families to other countries, Swedes are reconsidering the structure of inheritance taxes that can run as high as 70%. An announcement by the 34-year-old billionaire industrialist Fredrik Lundberg that he was moving to Switzerland set off debate in the country about the tax on inheritances. "It's my and my family's wish to secure the control of the company within the family in case I die," Lundberg was quoted as saying in a newspaper interview.
June 23, 1989 |
A dog named Master Teddy who inherited his owner's $102,000 house and fought off her relatives in a courtroom wrangle won another legal round today--this time to save his hide from the tattooer's needle. When Celeste V. Crawford died in 1984, her will said Teddy could live in her Silver Spring home for the rest of his life, with a friend of hers allowed to live there to look after the dog. Her relatives first went to court because they did not want to wait for the 13-year-old dog's death, but a judge ruled they cannot inherit and divvy up proceeds from the house's sale until Teddy dies.
December 18, 2009
The old saw about the only certainties in life being death and taxes isn't quite right: We'll also always be arguing about the taxation of death. Because of squabbling in the Senate over the estate tax -- one of the nation's most controversial levies -- taxes will rise for thousands of middle-class heirs while falling for a small number of the very wealthy. The troubles began with reforms approved by the Republican-dominated Congress in 2001, which led to a gradual decrease in estate taxes.
CALIFORNIA | LOCAL
October 14, 2013 |
Agent Roger Richman had a ton of celebrity clients - James Cagney, Mae West, Maria Callas, Albert Einstein, the Marx brothers, Sigmund Freud, Gypsy Rose Lee and W.C. Fields, to name a few. Contrary to expectations, none of them were overly demanding. "I don't have people calling me in the middle of the night saying there aren't enough red M&Ms in the Green Room," he told The Times in a 2001 interview. The reason was simple: By the time he began advocating for them, they were long dead.
July 14, 2010 |
In his July 6 Op-Ed, law professor Ray D. Madoff made a case for the estate tax, claiming that it promoted tax fairness and economic growth. Madoff is wrong on both counts. The estate tax violates common principles of justice and stifles economic growth. Congress should permanently lock in this year's special moratorium on the estate tax. One standard argument against the estate tax is that the wealth of the estate was already taxed (perhaps several times over) while being accumulated.
July 4, 2005
John Walton, one of five Wal-Mart heirs who are ranked among the richest people in the U.S., died with a fortune of $18.2 billion (Obituary, June 28). If all five heirs have approximately the same net worth, their total net worth would be more than $90 billion. Meanwhile, some of their employees are compelled to apply for public benefits funded with tax dollars while Wal-Mart squeezes subcontractors so that they cannot pay a living wage. Regardless of any of John Walton's charitable works, this disparity is a shameful commentary on our society and its tax laws.