Under President Trump’s new tax plan, if a person is lucky enough to hold the winning ticket in a $250 million Powerball jackpot, he pays half of it in income tax. If a stupid, lazy, egotistical bum is lucky enough to be born the son of a billionaire, he pays no estate tax. Both are simply lucky, not clever or hardworking. Does that strike you as fair?
Why does our president want to eliminate the estate tax? It brings in a lot of money. There is all the talk about saving a small business or the family farm. An individual can leave $5.4 million before any tax kicks in. The tax affects only the top 2 percent of the nation’s wealthiest people. What’s to worry?
I know a man who inherited a large Montana ranch, a sizeable herd of cows and all the equipment needed for a big operation. He was not a lazy son; he was a hardworking, kind, hired man. Did he cry about paying the estate tax? No, he went smiling to the bank. Borrowed the money to pay the tax and moved his family into the owner’s house.
We all know that the estate tax can be avoided by planning a little. First you admit you’re going to die some day and next you start to turn things over.
Rose Marie Aus