Senator Charles E. Grbadley (R-Iowa). (Alex Wong / Getty Images)
A series of exotic reasons have been introduced in defense of the Republican tax law pbaded by the Senate in the early hours of Saturday. None, however, provoked the same reaction as one presented by Senator Charles E. Grbadley (R-Iowa).
"I believe that not having the estate tax recognizes the people who are investing," Grbadley told the newspaper, "in opposition to those who are spending every curse." penny they have, whether it's with alcohol or women or movies. "
The argument, then: yes, instead of spending your money on alcohol and" women ", you had to invest it, you could also have a wealth big enough to qualify.
How much are we talking about? In 2017, the inheritance tax applies only to properties with a value of $ 5.49 million or more.In the interest of providing life advice to our readers, we decided to find out how much they would need to cut their alcoholic beverages and move images to save enough to qualify for that tax.
popular liquor in Iowa, according to the Des Moines Register, is the Canadian Black Velvet whiskey. (Note: The Post spells the name of the beverage as "whiskey" unless make it Canadian or Scottish.)
The local grocery giant Hy-Vee does not list the prices of the drink on its website, so we called the Des Moines-Walmart area, there a bottle of 1.75 liters It costs $ 17, 67. So we can do the calculations.
For Iowan to save enough to be eligible for the estate tax by simply eliminating his favorite liquor, he would simply have to buy 310,697 fewer bottles. If she usually goes through a bottle a day – an unhealthy habit, no doubt – she simply has to stop doing it for 851 years to save the $ 5.5 million or so.
Or, if she's maybe the generous guy, she should stop giving free shots to other people. How many shots? 310,697 bottles of Black Velvet generate approximately 12.3 million shots, enough to provide approximately four shots for each resident of the state.
Sorry, Iowa, you'll have to buy four shots of whiskey (or whiskey) out of your pocket. . This lady here is trying to build a property.
Some people have questioned exactly what Grbadley means when spending money on "women". I saw a person on social networks mention "escorts", which I'm a bit confused by. However, if you wanted, you could save for your estate by deciding not to buy 2,501 used Ford Escorts near Des Moines, not to mention what you would save in the parking lot.
Let's say Grbadley means that you should cut back on taking women on dates. (At no time did I describe my dating as "spending money on women," but who am I to judge?) We found a list of 25 ideas for dating in Des Moines, including a night at a restaurant called Django. , which appears not as a thematic restaurant related to the film Quentin Tarantino.
In Django, imagine that he would spend around $ 66 on two tickets, a snack and a couple of drinks, plus taxes and tips. To have enough money in the bank to qualify for the estate tax, I would simply need to go to Django 83,182 times less. If you usually go every weekend, just stop going for the next 800 years. Put that money in the bank, and then you can also pay the estate tax, baduming it does not change between now and the year 2817.
(Do not worry, we're getting to the "investment") However, you have to save a little more.)
Let's say that instead of saving for your estate, you want to watch a movie. Let's say that, in particular, you want to see "Justice League", the 24th of 38 comics movies released in 2017.
If you live in Des Moines, you can watch an evening at the AMC Clbadic Southridge 12 for $ 10.48. To have $ 5.5 million at the time of your death, you should only avoid repeating the visits. Some 523,855 visits repeated, to be exact.
The "Justice League" lasts just two hours, which means you'll have to stop watching the movie in theaters for 115 consecutive years. Or, if you are the generous type, simply change your plans to buy a theater with capacity for 300 people during the next 140 days, 10 hours and 8 minutes in a row. Of course, it would be fun to treat another 299 people in a comic book with 41 percent Rotten Tomatoes for every minute from now until 9:03 p.m. April 23, but this is your future of what we are talking about.
What about the investment?
Grbadley's point, however, was that this money would be better used in investments is not that you can simply stop buying Ford Escorts and suddenly be rich enough to qualify.
Let's say that you are a woman of 30 years of average height and weight who drinks a little (Black Velvet, in particular) The actuarial tables estimate that you will live another 51 years. An estimate of the return on investment in the coming decades is 7 percent per year, baduming investments in shares of large companies. There is no certainty of that, of course, but let's use it for our example.
To have $ 5.49 million for 2068, the year that the woman in our example unfortunately leaves us, would have to invest about $ 174,500 in the stock market. now.
Which means, in other words, that she needs to buy 9,875 fewer bottles of Black Velvet, or 2,644 fewer meals at Django, or 16,651 fewer "Justice League" shows or 79 fewer used Ford Escorts. Then, she has the $ 174,500 she needs to invest, sees an annual growth of 7 percent and qualifies for the estate tax at the end of her life.
Unless, of course, the estate tax limit increases.