Another tax break for the wealthy?

Congress is going to try to repeal the Estate Tax in September. This tax brings in more than $70 billion a year (year 2000). All estates worth less than $675,000 are exempt from any tax. In 2000 this was about 52,000 estates, or 2.16% of the total. Various new limits have been suggested. If the exemption is raised to $1.5 million, only 0.57% of estates would pay any tax. If $2.0 million, 0.26% would pay; if $3.5 million, 0.15%.

This tax reduction effort is strictly for the truly wealthy. If you're in that group, you might want to see the law changed. If you're not in that group, and figure you're not likely to get there, you probably don't want to see the law changed. If the law is changed, that $70 billion is going to be gotten from the rest of us.

You can get more information on this subject by gong to http://www.faireconomy.org

You might want to contact your Senators or Representative if you don't want the law changed.

http://www.thelittlegreenie.com
http://www.trafford.com/04-2119