For years, I have been telling people that FIFTY PERCENT OF THEIR PROFITS GO TO THE GOVERNMENT.
No one listens.
I am not going to go out and do the math for every one of you out there, but that's the percentage. Get used to it. Plan for it.
One problem arises when you do do everything you can, and earn a good living, and then the person you've spent your life with dies, and because of bureaucratic red tape, you have to pony up hundreds of thousands of dollars.
Enter Annie Leibovitz.
After Ellen reports (Annie Leibovitz is in a jam) that most of Annie's financial problems have come about because when her partner Susan Sontag died and left Annie several properties, Annie had to pony up FIFTY PERCENT of their value in taxes in order to keep them. Had Annie and Susan been seen in the eyes of the government as a legal couple, Annie wouldn't have had to pay anything.
Now, this isn't the place for a debate about same-sex marriage, and so on, so don't bother with that in the comments. The state should recognize Annie and Susan's relationship in some way so as to not tax the living hell out of them AGAIN. The problem is that those properties were purchased with after-tax dollars (likely), and the government is treating the assets as if they were transferred to some unknown third party, and re-taxing them.
Damn Uncle Sam.
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