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View Diary: Sen. Sheldon Whitehouse set to introduce 'Buffett Rule' tax bill (104 comments)

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  •  There are a few other ways the kids (3+ / 0-)
    Recommended by:
    VClib, Radical def, Crazy like a fox

    could have all that.  They could've used their gift tax exemption (the unified credit) and engaged in smart estate planning.  They also could've used large loans to the trust.  The loans wouldn't show up on the income tax returns, so just because we can't see them doesn't mean they're not out there.

    They probably did gift carried interests to the trust, of course.  That said, I've seen trusts that big that didn't get the benefit of carried interest gifting.

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