Rich People Get Hit with Estate Tax…Not Middle Class: Wrong Again

Avoidable under ASSET

Anyone who is middle class and trying to make it economically doesn’t want to hear about tax issues, unless Congress is looking to reduce our tax burden so we can keep more money for our own families.  As soon as you bring up words like “estate tax,” eyes glaze over and we lose interest because no one thinks we are affected by the estate tax.  But what if you lost your job because the private company you work for had to close because of it?

In a meeting recently Congressional staff asked me for the names of people who lost their farm or business because of the estate tax.  I tried to explain that in most cases people are too embarrassed to talk about those losses or they sell out to avoid paying the tax.

For example, we heard from one farm member who faced the estate tax and was forced to sell part of his land to a developer in order to pay the estate tax for his mother who passed away.  The farm has survived, however, the amount of land dedicated to farming has now been permanently reduced.  That means he has to keep a second job because farming alone will not pay his bills.  There is nothing fair about that result.

We want to hear from you.  We need to know of personal stories of private business owners, farmers and ranchers who faced the estate tax and sold before they were forced to pay, or worse faced the estate tax head on.  Did your business survive?  What did you have to do?  Some members of Congress are asking for specific stories of individuals.  Do you have one?  Email us rob@SimplifyEstateTax.org

We want to hear from you.  Email us your story at Rob@SimplifyEstateTax.org