One Of The Richest Men In The World “Mysteriously” Dies After IRS Receives Massive Sum In “Death Tax”, As Data Shows Increase In Payments Since Vaccination

According to Investopedia, a so-called death tax is:

A death tax can be any tax imposed on property transfer after someone’s death. The term “death tax” gained popularity in the 1990s and was used to describe estate and inheritance taxes by those who wanted the taxes repealed. In estate taxes, the deceased’s estate pays the tax before the assets are transferred to a beneficiary. With the inheritance tax, the person who inherits the assets pays.

The estate tax, charged by the federal government and some state governments, is based on the value of property and assets at the time of the owner’s death. The federal estate tax ranges from 18% to 40% of the inheritance amount.

The IRS is now reporting there has been a consistent increase in these death tax payments since 2021 and an explosion of them already in 2023.

The WinePress has reported on several occasions that life insurance payouts have skyrocketed since 2021, paralleling the rise in death tax deposits.

As the data from the IRS would indicate, while there have been notable increases since 2021, the larger spike so far in 2023 can be attributed to an apparent death of one of the most richest persons in the world.

John Ricco, the associate director of budget analysis at the Penn Wharton Budget Model, a team at the University of Pennsylvania (UPenn) that monitors the impact of economic policy changes, noticed a huge deposit of $7 billion in the “estate and gift” category, and realized that one of the richest people in the world must have died. However, the IRS will disclose who this person, so as of right now this multibillionaire remains anonymous to the public.

But these increases in death tax deposits are being attributed “to a large number of deaths during the COVID pandemic,” the Daily Mail writes.

But as for this anonymous multibillionaire’s death, Daily Mail reported (excepts):

The tax was either collected when someone worth $17.5billion died – or if they transferred a colossal gift of the same sum. This would put them in the top 100 richest people in the world, ranking alongside the likes of Cleveland Cavaliers owner Dan Gilbert and Jeff Bezos’s ex-wife MacKenzie Scott.

Ricco, the associate director of budget analysis at Penn Wharton Budget Model, noticed that even though the estate tax was reduced under former President Donald Trump in 2017, collections have soared in recent years, likely due to a large number of deaths during the COVID pandemic.

The US government has now collected more than $9billion in estate and gift taxes in the fiscal year that began in October, than it did in all 2022.

But it is rare for a wealthy American to pay such high amounts in estate taxes because they can be significantly reduced through strategic planning.

Additionally, the first $11.58million is exempt from taxation, and estates can benefit from flexible rules for valuing private companies.

Those payments could also be reduced through the creation of trusts and charities to shield incomes from taxes.

Whoever deposited the funds must have had an estate of at least $35billion, according to calculations by the Tax Policy Center, a think tank based in DC.

It estimated that the wealthiest Americans pay a 17 percent effective tax rate on their estates, after filing all their exemptions and avoiding taxes with charitable donations and trusts.

But if even just 50 percent of his estate was taxable, that’s a potential value of about $35billion — which would make him one of the 100 richest people in the world, according to Forbes’ list…