Estate tax exclusion?

Marta Russell ap888 at lafn.org
Tue Mar 27 19:39:49 PST 2001


Can someone inform me what the current $ exclusion amount is under the estate tax? I'm writing a piece to refute that newly organized "disability" group that Craig Shirley (right wing PR firm) is using to repeal the death tax. See below

Marta Russell


>Monday March 26, 5:00 am Eastern Time
>Press Release
>Disabled Americans For Death Tax Relief Take Their Message To The Hill
>INTERNET WIRE -- Disabled Americans for Death Tax Relief President,
>30-year-old Erin
>O'Leary of Austin, TX, appeared at a Capitol Hill press conference
>with Representatives Jennifer Dunn (R-WA) and Christopher Cox (R-CA)
>on the need to repeal the death tax on behalf of the "forgotten
>victims," the disabled citizens of the United States. O'Leary spoke
>on behalf of the millions of disabled Americans who will suffer in
>their "future health and finances" if the death tax is not repealed
>and their parents' estates are taxed at a graduated rate rising from
>18 percent to 55 percent.
>
>"There are at least 4 million disabled Americans who might have to pay
>death taxes on money their parents left them to pay medical bills,"
>O'Leary said.
>
>O'Leary pointed out the medical bills of the disabled are often
>astronomical, with hers easily exceeding $250,000.00 over the last few
>years.
>
>"Some of us who would receive this wealth are in wheelchairs. Some are
>deaf and blind. Some are on respirators. Others require medication or
>nursing services. In order to live a full life, these Americans may
>require medical help, nursing and living assistance far beyond that
>which is covered by medical insurance...These are four million people
>affected by real disease, who live in real pain, and many have medical
>bills that make mine appear small," O'Leary stated.
>
>O'Leary stressed that quite often those opposing the repeal of the
>death tax often ignored the concerns of disabled Americans. She was
>especially disturbed by the callous ad campaign conducted by
>Responsible Wealth - a group with such super rich members as George
>Soros, Steven C. Rockefeller and Warren Buffett, who call the estate
>tax repeal "a terrible mistake."
>
>After the Responsible Wealth ad in the New York Times on February 14,
>2001, member Bill Gates Sr., father of the Microsoft founder,
>confirmed their position on the issue at a
>Senate Finance Committee hearing last week, tagging the estate tax as
>"an entirely
>appropriate tax" that the rich should pay "as a price of living in the
>United States."
>
>In response to the comments of the Responsible Wealth, the Disabled
>Americans for
>Death Tax Relief , placed full-page ads in the Washington Times and
>Wall Street Journal.
>
>These ads generated support from all parts of the country and now the
>group has
>"recruited over 1,000 supporters just in the last two weeks," O'Leary said.
>
>Interestingly, "Bill Gates Sr., speaking on the show Crossfire, said
>that he never
>considered the effects the death tax has on disabled Americans. In
>light of that admission
>of ignorance I say that Responsible Wealth wasn't too responsible in
>running that ad after
>all," remarked O'Leary.
>
>O'Leary also took exception to Responsible Wealth's members who
>portray themselves as
>a cross-section of America's wealthy when in fact they consist almost
>entirely of
>super-wealthy Democrats.
>
>O'Leary, who recently appeared on Fox News Live, can be seen on:
>
>Tuesday March 27, on Hardball with Chris Matthews and special guest
>host, Senator Fred
>Thompson Monday, April 2 on the Fox News show, The O'Reilly Factor
>Thursday, April 5 on
>Special Report with Brit Hume on the Fox News Channel.
>--



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