he said, "no, we just split up an inherited ira." his accountant said, "no, you don't get it. "you don't have an inherited ira. "you're not getting the stretch over 50 years. it's all taxable." so he had called me to confirm it. if he had done it right, he could have stretched it-- the three kids in their early 30s could have stretched this out over 50 years. they would have ended up with well over $2.4 million. that's over $800,000 each at much lower tax rates, 'cause it would have been split over 50 years, spread over 50 years, compared to $100,000 each they got now at higher rates. this is someone who ended up with way less, less, less. and this mistake cannot be fixed. i don't want this to happen to you. remember what i want for you. i want more, more, more, more money for you to enjoy now, more for your retirement, more for your loved ones, and more of it... all: tax free! - [chuckles] [applause] thank you. now, coming up, i'll steer you clear of the latest financial scams so that your planning pays off. also, i'll share a few more ways to lower your taxes now and forever

ushers is an inherited condition, not from one parent, but both. kimberling: the reason why it's this way is because it takes two for usher syndrome to happen. it takes a gene, a specific gene, coming from mom and one coming from dad, and they have to come together. the interesting consequence of that, since mom and dad have to be so-called carriers, is that you seldom see usher syndrome occurring in other family members. narrator: parents of deaf children are confronted with many choices regarding communication and education. some choose sign language, others an auditory/oral education, while others choose a combination of both. hearing aids and, more recently, cochlear implants are also widely used. lauren's parents chose an auditory/oral education and a cochlear implant at an early age. diana: so, i wenouout, and i researched older children, how they were doing with their cochlear implants, and they were doing phenomenally. so then i got the cochlear implant when i was 3, and then that's when i started going to lois. the goal is always to be abl

in tonight's tax tips, figuring out taxes on an inheritance. >> did you inherit stocks or other property last year? if so, do you know what your tax basis is, the amount you'll use to figure the gain or loss when you sell? this used to be simple. thanks to what i call "the angel of death tax break," the basis of inherited property is stepped up to the property's value on the day your benefactor died. any appreciation up to that time becomes tax-free, a bit of alchemy that saves taxpayers more than $20 billion a year. but 2010 is special. remember, congress let the estate tax expire at the end of 2009, and when it died, so did automatic step-up of basis. it was replaced by something called modified carryover basis, meaning heirs are stuck with the previous owner's basis, and the tax bill that accrued during his or her lifetime. but just like most of us don't have big enough estates to worry about the estate tax, most heirs didn't really have to worry about carryover basis. you see, each estate was allowed to step up the basis of assets to wipe out up to $1.3 million of appreciation, plus

he had been embroiled in a court battle over an inheritance from his father. when i met him, this was drawing to a close. and he was going to be receiving some money. as he described this court battle to me, it became clear that this battle had absolutely enlivened him. this was his reason for being, this battle that he went through. and he fought and fought for this money. finally, now, he came to see me because he was about to receive it. in fact, he had prevailed. and the courts had awarded him quite a bit of money, and he wanted now to plan a strategy for investing this money that he was planning to live off of. well, that's all well and good, but the problem was that at that time, we were in very, very strong markets. they had been returning tremendous numbers. we had had investments that had been returning 20%, 23%. it was a golden time. [ chuckles ] and he watched all those advertisements, and he imagined himself, on this sum of money, living off a very high return. when i began to project forward what i thought we could possibly earn on the money, he j

why would anybody refuse an inheritance? because it's going to go right back in your family and create a better tax picture for everybody. so you can disclaim all of the $1 million ira or any part of it. let's say for our example you disclaim $1 million. to disclaim, it has to be done within nine months of the date of death. so you do have some time to see how much you'll need and even have the flexibility of changing the plan a little even after death when you know exactly how much you need. so let's go back to the story. let's say the wife disclaims the million. she--the million ira-- because she knows she has the million in life insurance, which is much better. she disclaims the million ira. it goes back through the husband's estate to the daughter so the daughter gets it estate tax free. the daughter moves up because she was named contingent beneficiary. and that's very important in planning. because she was named the contingent beneficiary, she moves up as primary beneficiary and inherits as if she was the primary benef

there is an inherit bias in that. [laughter] it's a risk, but things like first-in , first-out, all the routing schools that reperceive as knew rail have biases against applications in the speeds of which they start, how long they run, and what are the parts of the researches i'm doing now studies that and it's something engineers understand well and percolated little in the policy debates as they exist today. going on the topic of today which as jim liked the idea we're talking about network neutrality and what comes after neutrality, and december piet the forward--- despite the forward looking aspects, my remarks is what comes after. we have two major issues brewing. the first is a fight over jurisdiction and the other is a fight over enforcement. i'll talk briefly on each one of the jurisdiction is the big fight that will happen in the courts. the dc circuit ruled it's not necessarily going to happen there because the comcast decision came down issued by the dc circuit, and there's a mechanism to decide which venue

allow legally married same sex couples to share benefits, such as social security, and inheritance rights. >> it was an unexpected announcement. we didn't have any warning that this was coming. >> legal analysts say it also poses an indirect challenge to california's proposition 8, same sex marriage ban. supporters of that law decline the decision. >> the abandonment of the federal doma shows the disconnect between the will of the people on the one hand and government authorities on the other. and it really shows the enormous political power of gay rights advocates. >> same sex marriage supporters also today asked the federal court to allow california same sex marriages to resume. ahead of a hearing on prop 8's constitutionality. reporting live in san francisco, david stevenson, ktvu channel 2 news. >> white house press secretary clarified president obama's decision not to defend the act outlawing same sex marriage. >> the president's personal view on same sex marriage, i think you all have heard him discuss as recently as press conference at the end of last year, that is distinct from this legal decis

couples could soon share a federal, social security benefits as well as insurance and inheritance rights. also today an attorney representing same sex couples in california's proposition 8 battle asked a federal court to allow same-sex marriage to take place while the courts review the constitutionality of the ban. the request comes after the california supreme court said it needs the remainder of the year to consider whether or not the group arguing in favor of proposition 8 actually has legal standing. >>> there were tears of joy in hawaii today as governor neil ambercrombie allowed same sex unions in the aloha state. the law gives gay and lesbian couples the same rights as married heterosexuals. the law is scheduled to take effect january 1st of next year. ktvu.com has the developments on same-sex marriage on the first page. >>> a meeting in san francisco on whether police should be allowed to use tasers. heather holmes is live in city hall where they are debating this issue. >> reporter: five hours after the taser debate began tonight they are still at it on the 4th floor. law enforcement officials

couples could soon share a federal, social security benefits as well as insurance and inheritance rights. also today an attorney representing same sex couples in california's proposition 8 battle asked a federal court to allow same-sex marriage to take place while the courts review the constitutionality of the ban. the request comes after the california supreme court said it needs the remainder of the year to consider whether or not the group arguing in favor of proposition 8 actually has legal standing. >>> there were tears of joy in hawaii today as governor neil ambercrombie allowed same sex unions in the aloha state. the law gives gay and lesbian couples the same rights as married heterosexuals. the law is scheduled to take effect january 1st of next year. ktvu.com has the developments on same-sex marriage on the first page. >>> a meeting in san francisco on whether police should be allowed to use tasers. heather holmes is live in city hall where they are debating this issue. >> reporter: five hours after the taser debate began tonight they are still at it on the 4th floor. law enforcement officials

inheritance? [laughter] >> i certainly would not been he makes an extremely good point. the shadow chancellor stated baldly that there was no structural deficit when they left office. even as the institute for professional studies could not be more clear that we have one of the biggest structural deficits of anywhere in the dance world. if you start in opposition of a complete deficit of denial, you will never be taken seriously again. >> mr. speaker, with youth unemployment at the highest levels since records began, will the prime minister reconsider the decisions of strapped future trust funds? >> i'm glad to see the hon. gentleman back and well and in his place. as i said last week, this is a problem that got worse during the boom years under the last government and then got even worse during a recession. and is still a very big problem today. i do not believe the future jobs fund is the right to job. it is five times more expensive than the other schemes. in places like birmingham, only 3% of the jobs are in the private-sector. it is not a good scheme. it needs a bet

and at&t both claim to want deregulation, right, that regulation is an evil because -- but they were built, they have these inherited advantages as do others. so my question is why do you see that as coincidental, that it's an undercovered story in journalism? >> no, i don't see that at all. those two interests are aligned speak of net neutrality is the government tried to tell people it will be better. net neutrality as common carriers. speak of with common carriage there will be winners and losers speak of that's what you're asking for so i don't understand -- >> what am asking for a recognition that telecoms and other big players including google have an obligation to serve the public rather than their shareholders or themselves, or their own vision. that's what i'm asking. >> we're getting near the anti-want to move along to the next question. >> this is a two-part question. one in terms of the over arching arguments of respect attacks, how did you compensate or how do you see the switch between a telephone or telegraph where in one purple is sending to one other person, and then the sort of at least much ballyh

when he play the inside game we inherit the residual problems of an iran with respect to the shah, and our lationship with him. so i think, you know, we're walking... i think the obama administration has it correct here. i think they understand from the get-go they've understood exactly what our goals are. wu we also have other interests. we need to be sensitive to them. egypt was a critical player in the peace process of the middle east. we don't want a catastrophic failure of prevention on the gaza strip and on the border with egypt. we don't want radical movement of one kind or another to fill any vacuum. we don't want send a message to friends that we don't understand those kinds of sensitivities. so i think the key here has been to make clear that we understand and are sympathetic to and supportive of the aspirations of the people of egypt, that we know there's a need for change. but to make it responsible change. change that can be affected with accountability and transparency and ultimately hopefully with an outcome that permits the aspirations the people are expressing in the s

would refer to it as is a problem child, and i have now inherited the problem child -- referred -- would refer to it as his problem child. it is an important line. and yet, it is a continuing problem. its reliability is poor. it is not, for reasons i do not understand, properly tracked by gps in terms of being able to use next muni, and this is a problem that does not seem to and, so i am asking the mta to come and talk about the reliability of the situation and as well as what they are doing to make it more reliable and what future possible changes to the line can be made to make it more usable. i will be meeting with supervisor avalos and look forward to working closely with them and with mta. the second hearing i am requesting has to do with this boards preservation. -- this board's preservation. as i said earlier, i supported prop j, because i think it is important to embrace important parts of our past and to never forget where we have come from. in recent years, historic preservation in san francisco has gained more and more momentum and has grown into more and more areas. it used to be that when you thought of historic pre

inheritance? [laughter] >> i certainly wouldn't. and my right honorable friend makes an extremely good point. at the weekend the shadow chancellor stated boldly that there was no structural settlement when labour left office. he's nodding now. even though the institute for fiscal studies could not be clearer that we had one of the biggest structural developments anywhere in the advanced world. i have to say if you start in opposition in a position of complete deficit denial you will never be taken seriously again. >> mr. speaker, with youth unemployment at the highest levels since records began, will the prime minister reconsider the decision to scrap the future jobs fund? >> first of all, can i say how good it is to see the honorable gentleman back and well and in his place. what i would say -- what i would say about youth unemployment what i said last week. this is a problem that got worse during the boom years under the last government and then got even worse during the recession and say still, yes, a very good problem today. i don't believe the future jobs fund is the answer because it wa

inherit a huge debt. ireland has are the equivalent of more than 50 billion pounds as part of an international bailout. the irish president made her choice. a record 566 different candidates are running from a cross-section of parties. >> there is no distance between the. they agree on the major issues that need to be addressed. there are differences in policy and in terms of how they would go about doing it. >> on the west coast of ireland, islanders have finished voting. it is one of the most important elections in irish history. all the parties agree on one thing, a country with a weak economy desperately needs a strong government. >> mark simpson reporting there. here and uk, the royal wedding is less than two months away. when prince william net eight middleton, they were students, and today they returned to launch the sixth anniversary appeal. we have this. >> they came to the little town which played such a big part in their lives. st. andrews on the coast where william and cates met as students, -- kate met as students. they returned to launch the 600th anniversary appeal. inevitably, it stirre

in here with an economic crisis like i daresay nobody in this room has ever need and which threaten to head straight into a depression if we didn't act. but i also remind you we inherited, when this administration came into office, an enormous debt that had been piled up in the previous eight years. and that is part of the problem and the interest that you are talking about his son that died as well. but look, i think it's important to step back. the president put forward a budget that seriously addresses the need to reduce spending, but also protects the key areas that he thinks need to be invested and so that we can remain competitive, grow the economy, create jobs. and he looks forward to working with the republicans and democrats in congress to do with the budget proposals on the long-term debt. and he thinks there is reason to believe we can get this done. >> so you -- just two button mouse, you think we will not be adding more to the national debt is the statement that stands scrutiny? >> absolutely, absolutely. and jake, we'll explain precisely what that means in terms of new spending, getting our spending and income -- our income and spending into balance. that

> reporter: loyalists say reaganomics spurred an economic boom and that his peace through strength hastened the end of the cold can war. >> what he inherited in iran. what he did was restore respect for america throughout the world and a pride here in america, here at home. >> reporter: which maybe why 22 years after he left office, reagan has become an iconic figure. >> ron and nancy are home! >> ronald reagan really was not concerned about his legacy. he was not an introspective person and he also figured that if he did the right thing, history would take care of itself. >> reporter: history that will be written and debated for decades to come. bill plante, cbs news, washington. >> mitchell: and that is the "cbs evening news." later on cbs "60 minutes." thanks for joining us this sunday evening, i'm russ mitchell. cbs news in new york. katie couric will be here tomorrow. good night. captioning sponsored by cbs captioned by media access group at wgbh access.wgbh.org media access group at wgbh access.wgbh.org middle schooler... >>> high pressure and offshore winds, another round of record- breaking heat. how long it will last. >> the famil

and we inherited a -- an economy that was in substantial free fall. the president said that, mr. bernanke said that, mr. paulson said that. so we adopted legislation that tried to stabilize that economy and the good news is, we have. we haven't gotten to where we want to be. we want to create more jobs. as the president says, we want to invest in growing our economy and bringing jobs bag. -- back. there will be some very tough decisions we'll have to make moving forward, and frankly as the chairman of the appropriations committee knows and as the ranking member of the appropriations committee knows, you will not get there focused simply on 14% of the budget. it will not happen, my friends. you might want to delude yourself or delude our constituents and say that you can simply cut all 14% of nondefense discretionary spending. and you'll still have an operating deficit this year if we cut out every nickel. of -- every nickel of discretionary spending. that discretionary spending educates our children. it promotes our health. it promotes our commerce. it promotes building the econo

an international battle reforwarding their texco unit in the amazon. people sued saying they were responsible for oil contamination in a part of the jungle. chevron inherited the suit when they bought texaco in 2001. >>> some says the as dangerous as drugs or alcohol. new warnings about energy drinks. >> and what does your wife really want for valentines day? it is not flowers. the one gift nearly 90% of women agree on. >> could it be cloudy, wet and cool weather you want for valentines day? maybe not but that is what we've got details for the rest of the week coming up in a few minutes ,,,,,,,,,, 3q copd makes it hard to breathe so i wasn't playing much of a role in my own life. but with advair, i'm breathing better. so now, i've got the leading part. advair is clinically proven to help significantly improve lung function. unlike most copd medications, vavair contains both an anti-inflammatory and a long-acting bronchodilator, working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneu

an expert to prevent the damage just claims that the sole responsible party is texaco but he forgets the petroecuador has been operating here for twenty years. state owned ecuador was the want to inherit all texaco facilities and infrastructure as soon as the company left the country after its contract had expired unfortunately as a reality shows petro ecuador also inherited the bad practices of the past. if we had any kind of alleged responsibility it stopped existing eighteen to twenty years ago when petro ecuador took charge of all tech school facilities. petro ecuador has cost eight hundred eighty two oil spills in six years why don't they do anything against petroecuador look if they were interested in people's health and in nature then why are they doing nothing against petroecuador. why only against the multinational company that left twenty years ago and has been acquitted by the government i'll tell you why it's what americans call the deep pocket. that's the only possible explanation. their strategy is simple they left ecuador in one thousand nine hundred two. we only began the trial in the us in one thousand nine hundred three when they couldn't accuse the state oh company

an area that they could be confronted byá confrontation. i kind of thought that was part of it, but i'm happy to see this as well. it is obviously inherited i think it is self-explanatory. any other comments from you all? good. public comment on this item? public comment is closed. colleagues, take this? very good. with recommendation. next item please. >> item data we will come a resolution authorizing the police department to attractively accept and expend a $178,962 grant -- item two, resolution authorizing the police department to retroactively accept and expend a 170 a thousand $962 grant. supervisor mirkarimi: anyone from the police department? step on that please. >> good morning. captain perry from the police department. this grant is put forth as a way to upgrade our number one vessel in our fleet for the marine unit with cleaner-burning engines and a cleaner system put out by the bay area quality management. supervisor mirkarimi: ok. quickly, has this ever been needed before, or is this the first time? >> this is the first time for this vessel. it was a prior coastguard vessel that was procured through a different program. has t

an impact we have to address issues that are directly relevant to their advancement. >>reporter: sely populated countries. half its 160 million people, are held back by inequality in inheritance, property, marriage and child custody laws. >>traditionally women worked unpaid in agriculture, but that is starting to change with greater numbers of girls getting at least some education. >>goldstein: a revolution has occurred partially driven by advances in education which have really brought women are out of the homes and into the workforce. >>reporter: n dollar garment industry may help boost bangladesh's 6 percent gdp growth rate and employs 1.4 million women, 80 percent of its workforce..but it is still badly paid work: >>goldstein: the challenge that bangladesh is facing, is in fact facing, is moving up the value chain in terms of sending increasingly skilled labour which is in demand overseas and that's where again continuing investment in education, getting more girls into secondary school and into tertiary education and ofcourse an issue that we have not touched on up until now which is the quality of the education system. it is one thing to get girls into schools it is ano

after november 2nd 1917 believed they would inherit palestine one way or another the arabs believed quite likely the palestine would form quite a of an independent arab kingdom the british supported but they only had mcmahon intentionally vague letters on this matter. there is yet to another dimension to this story which further complicates and constitutes my original contribution. from the moment turkey enter the war, there were british people who wanted to our range separate peace with the ottomans. understand the zionist believe turkish control over palestine was their greatest obstacle and wanted total victory over turkey. the institution of a british protectorate and free immigration into palestine for the jewish people. the arabs believe that they were or what have to help defeat the ottoman empire then have their own independent kingdom who. said they too, like the zionist unambiguously unalterably opposed have a separate peace with the empire who in great britain favored the separate piece? there were a small number of british muslims in the country to black political influence and connections but they felt deeply it was a tr