Merits of Estate Tax
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* Re: “A Boon for Multimillionaires,” editorial, June 18:
It’s a moot point whether they are called death, estate or inheritance taxes. It is a tax on people who chose to live below their means and invest after-tax dollars into their growing businesses. And their heirs have often participated as children, both by working in the family business and by living in a household that plowed its money back into the business instead of into a more affluent lifestyle.
Taxing these estates basically punishes good behavior. As a Democrat, I say the GOP is right on this issue, with one exception. Instead of starting at the top, phase estate taxes out from the bottom by repealing the lowest tax bracket first and moving up the ladder of tax brackets, with the 55% rate being the last to go.
KATHI RENMAN
Glendale
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* Estate taxes should not be decreased but should be increased to almost 100%. I recently inherited money and had to pay a very substantial estate tax, which I did not like. However, that is beside the point. America grew and prospered based on social mobility. An entrenched wealthy class will cause a social revolution, destroying the wealthy class that wants to decrease or eliminate the estate tax.
My children didn’t earn the money and they have no right to it. If my child is competent, he will earn it; if my child is an idiot, he has no right to it. If a child from the ghetto must fight substantial inherited wealth, he does not have a chance to advance and will become a radical, destroying society.
It is in the interest of the wealthy to have a substantial estate tax.
JASON G. BRENT
Tehachapi
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* The beneficiary of an estate has not engaged in activity that is similar or analogous to those that generate earnings, bonuses, lottery and gambling winnings (letter, June 20). Therefore, most of the estate should not be taxed.
However, an estate may have earnings that have avoided taxes due to state and federal taxation statues. The question is, should these avoided taxes become due upon distribution of the estate to the beneficiary?
JESS W. LANEY
Carson
