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Julie Garber

Will George Steinbrenner's Death Bring Back the Federal Estate Tax Retroactively?

By , About.com GuideJuly 14, 2010

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OK, so I'm sure I'm not the first person to have thought about this, but living with a Yankees' fan (my husband) and having my office located right next to a Yankee hater (Steven), it's hard not to consider all of the members of Congress who are most likely Yankee haters, not to mention Mr. Obama who is a White Sox fan. What if all of these Yankee haters band together to bring back the federal estate tax retroactively just to make George Steinbrenner's estate have to fork over some cold hard cash to pay estate taxes?

It's an interesting thought given that professional sports teams like the Miami Dolphins and Washington Redskins had to be sold to pay estate taxes, but not likely since even if the Yankee haters band together it's obvious that Congress will have a difficult time agreeing on what a retroactive estate tax should look like and the estates of other billionaires who die in 2010 will be more than willing to band together to challenge the constitutionality of a retroactive tax. Sorry Yankee haters, Mr. Steinbrenner has won this game too.

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