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To: David R who wrote (26917)	5/7/2001 9:30:41 PM
From: Wren	Read Replies (1) \| Respond to of 27012

>>The estate tax kills many small businesses that would otherwise thrive. The tax is just too burdensome for the small business. I do think that there should be a difference between basic assets and a productive business (that provides employment, etc.) in terms of estate taxation<< I agree that the estate tax is too burdensome for small farmers and small businesses. But it is too burdensome for everybody. From a national perspective, does it matter whether Farmer Brown continues to operate the farm that has been in his family for two generations or sells it to others who operate it? If Farmer Brown sells, won't the farm be operated by the new owner and produce crops and provide employment? The same thing applies to small business owners. Someone will operate the businesses that provide the goods and services that the public demands. I don't think one family deserves a much larger tax break than others so they can continue to operate a business or farm. If the new owners can afford to pay the full price for the farm or business and the old owners can not afford to pay the estate tax, which is about one-half the value of the business, doesn't that prove the new owners must be better operators? I have no problem after increasing the exemption for every citizen to several million dollars, in giving small farmers and small business owners a break by allowing them to pay estate tax over a long number of years at a very favorable low interest rate. I think there is something good from a national perspective in giving people a chance to keep a family operation going. But if they cannot operate effectively enough to afford to pay the tax, it probably is better from a national perspective that they sell and allow a better operator to take over. Basically, from the viewpoint of fairness, I think all citizens should have the same tax exemptions. To do otherwise will, IMO, lead to a lot of discontent that is not good for a country.