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As the cliché goes, there are only two certainties in life: death and taxes. But, they're intertwined. When you go to the great beyond, the government generally wants its cut, which is just under half the size of your estate, provided it reaches a certain size. Yep: The government can be your biggest heir, whether you like it or not.
Every few years, the estate tax, also known as the death tax, flares up as an issue. On the one side, politicians say people with large estates should redistribute some of that wealth to the common good by giving it back to government coffers. Critics, though, charge that the government has no right to money accumulated--and, more importantly, taxed already--throughout a person's life.
It can make for some strange political bedfellows. Billionaires like Warren Buffett and Bill Gates are actually in favor of higher estate tax rates, even though they have the most to lose from it. On the other hand, several minority groups have pushed for a reduction in estate-tax rates, since it makes passing on neighborhood small businesses to their families financially prohibitive.
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Wednesday, March 26, 2008
American Airlines Cancels Around 200 Flights to Inspect MD-80 Aircraft
Associated Press
FORT WORTH, Texas --American Airlines canceled about 200 flights, less than 10% of the nation's biggest airline's scheduled service, on Wednesday
so its crews can inspect some wire bundles aboard its MD-80 aircraft.
The need for the new inspections became known
during an audit of American by a joint team of inspectors from the Federal Aviation Administration and the Fort Worth-based
airline, according to a statement from American.
"We are reinspecting the MD-80s to make sure the wiring is installed
and secured exactly according to the directive," American spokesman Tim Wagner said in the statement, which did not describe
the function of the wiring.
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