Repeal the Estate Tax? Message Board

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Strategies & Market Trends : Repeal the Estate Tax?

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To: Labrador who wrote (14)	7/17/2000 8:51:33 PM
From: donjuan_demarco	Read Replies (1) of 30

Labrador, not attacking you, but "The American Council for Capital Formation": "There are lies, and then there are damned lies." -- Mark Twain "As to simplicity, the federal estate tax is so complex that unclosable loopholes abound. The result is that only an elite group of expert tax lawyers and accountants can interpret it -- at considerable cost to the individuals with even modest estates." The material I have just quoted is a "damned lie". Any CPA or attorney who practices in the trusts and estates area is fully competent to interpret the federal estate and gift tax -- there is no "elite group". There are literally tens of thousands of attorneys and accountants who practice in that area, and who can assist people at a very moderate cost. Re family businesses and farms: They already receive very favorable estate tax advantages. Sorry to say it, but what you have quoted is so full of "damned lies" that it staggers the imagination.

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