PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Neocon who wrote (48406)	10/18/2000 12:54:35 PM
From: Oral Roberts	Read Replies (3) of 769667

<Get rid of the estate tax, period> You got that right. Most people don't even realize on the death of a spouse that the inheritance tax applies to the survivor on their estate. Know of several farm auctions in my area for just that reason. Gee husband and wife works together to build up a farm, wife dies. Government comes in and hands a large tax bill to the hubby (who I might add already paid tax on everything he owns once) and you end up with a sale to pay the government tax bill. After the sale they learn that almost all the proceeds are capital gains due to depreciation and they get hit again. I know of one family who ended up with $108,000 left after an over 1 million sale. The true rich shield their estates through trusts etc. and are able to avoid this crock all together. Biggest BS tax the Democrats ever thought up IMO. Jeff

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