Death puts

摘要

In the old days there were flower bonds. Never heard of them? You must be under 50. Flower bonds were U.S. Treasurys that you could buy at a price below par because they had very low coupons. You bought them on your deathbed because the small print said the bonds could be redeemed at par to pay your federal estate taxes, even if the maturity date was far away. Pretty cute: When you were pushing up daisies, flower bonds bloomed. Individuals loved them, but, alas, the last ones were issued in 1971, and they have matured.