Re: [QUAD-L] Estate Tax

[Jim Lubin]

I have a friend who went to college, became an engineer, worked for a small medical device company (where I use to work) and developed a medical device. He had stock options in the company. This small company was bought by a larger company where my friend became a vice-president. He eventually left that company and started another company where he is CEO, developing yet another medical device.

So through his own talent and good fortune has become wealthily.  So if he decides to leave his self-made wealth to someone other than his spouse or charity why should the government be able to tax that transfer of money to whom ever he wants to leave it to when he dies?

One-hundred percent of Americans should be able to pass their estates to whom ever they want tax-free no matter how much their estate might be worth. Elimination of the Estate Tax has the potential to benefit any American.


At 09:11 AM 8/29/2005, QuadPirate wrote:

Myth: The estate tax is a “death tax.”
Fact: The estate tax is not a tax on death. It’s a tax on the transfer of large amounts of money. Ninety-eight percent of Americans who die pass their estate on to their heirs completely tax-free — in fact, they get a valuable tax break on capital gains. Zero estate tax is charged on assets left to a spouse or to charity.