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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Ish who wrote (50041)	10/20/2000 7:18:01 PM
From: donjuan_demarco	Read Replies (2) \| Respond to of 769667

The nice thing about this board is that people who vehemently disagree about issues can come together and, in a spirit of goodwill, with rancor towards none, discuss the issues in a peaceable manner, without insults or slurs. Ish, I am disappointed that you feel compelled to sling insults the way you do. You should be ashamed.

To: Ish who wrote (50041)	10/20/2000 7:24:58 PM
From: gao seng	Read Replies (3) \| Respond to of 769667

Without the estate tax, capital gains included in an estate would never be taxed. Under current law, the gain from appreciation of an asset is subject to the income tax only when the asset is sold. Upon the sale of an asset, the difference between the purchase price and the sale price is taxed as a capital gain. If a person holds on to an asset until he or she dies, however, the heirs inherit the asset at its value at the time of the decedent's death. The gain on the asset from the time of purchase to the time of death is never taxed under the income tax. Some of the capital gains income that escapes taxation under the income tax may be taxed under the estate tax. The appreciated value of the asset is included in the estate and, if the estate is large enough, subject to taxation.