George Steinbrenner, the bombastic boss of the New York Yankees, died this week. Many people only know George Steinbrenner from Seinfeld episodes, but to many baseball fans, he was the undisputed face of the Yankees from 1973 until his death. Steinbrenner was famous for hiring, firing and then re-hiring managers and meddling in their day-to-day operations.
By dying in 2010, Steinbrenner (actually his heirs) gets to keep an estimated $632 million from his reported $1.15 billion estate that otherwise would have gone to estate taxes. As Kelly Phillips Erb, a/k/a The Taxgirl, writes on her blog, that sum is enough to pay the entire budget of the Small Business Administration for all of 2009.
Congratulations George, you won another one.
