Sources are saying that the estate of Michael Jackson could reach upwards of one billion dollars when all of the music catalogs, property, and possesions are figured in. Not only does he own a large portion of the Beatles catalog, he also owns a lot of his own music, property, and a lot of possesions. According to what they've been saying on CNN, he's about 400 million in debt.
Sure the Jackson Family is going to be taken care of, as will his children, and whichever charity the remaining 20% of his estate will go to.
Now the question I have is this. Assuming the U.S. Government knew that Michael Jackson was worth at least one billion dollars, is it possible that they conspired to off him knowing they were going to rake in a ton of money on inheritance taxes? Is it possible that the government offed one of the greatest musical geniuses of all time?
Recently I was reading up on estate and inheritance taxes because my grandfather passed away. Had he been a wealthy man, I could have inherited up to 3.2 million dollars without paying taxes. After that the government takes 45 cents on the dollar. So if Michael Jackson is worth 1 billion dollars, then the amount of taxes the U.S. Government could rake in close to half of that??
That could also mean that the state of California could profit on the death too. According to the California State Controller's Office, it seems as though California phased out its estate tax. I'm not sure if I have that information right though.
Now, of course all the money in the world couldn't pay off the current U.S. debt, but it smells of conspiracy to me! Especially since our government and people in the music industry in general are fraught with conspiracy theories.
How about all of the money that is going to come in after his death? There has been talk that he will be worth more money after his death than he was worth alive. Is all this money automatically going to be subjected to a 45% estate tax by the government? I'm not a tax expert by ANY means, and I'm not sure most tax experts are even tax experts. I do know however that the U.S. Government takes a lot more taxes from rich people than they do poor people.
Tomorrow is the big day for the memorial service. It will be interesting to see how many people show up for the event. Los Angeles better be ready for a big....wait a second.... there's on way California is profitting from this.... they're going to have a huge influx of people over the next few days which will definitely bring a much needed boost to their economy.
So my conspiracy theory of the day is that Arnold Schwarzanegger and Barack Obama conspired to have Michael Jackson killed as a way to boost California's economy as well as bring in some much needed revenue for the U.S. Government.