[pictures_of_lily]

I've read conflicting things, and I'm looking for definitive info as this is an extremely imporant issue to me. I will be inheriting the business that has been in my family for 3 generations, and I don't care to pay an enormous estate tax on it when I do, and this will affect my vote. I'd like to know for certain what Kerry's POV on this is as I have read both that he is for raising the exemption level and against it.

 

[sleeping queen]

Quote:

Kerry might also recoup some additional billions by restoring the estate tax and reversing the new, lower rates on capital

Taxes

Quote:

and overturn the planned elimination of the inheritance tax.

Quote:

2001: Votes against the Bush tax cut - a $1.35 trillion tax cut package to reduce income-tax rates, alleviate the "marriage penalty" and gradually repeal the estate tax. Votes to reduce Bush's proposed tax cut ceiling by $448 billion over 10 years.

Kerry and taxes

 

[jeyer]

Straight from John Kerry's web site:

Kerry would: Provide an immediate tax break for small businesses and family farms by immediately raising the estate tax exemption to $4 million per couple and $10 million per couple for a family-owned business or farm. The estate tax would be maintained for the largest estates.

So, this wouldn't affect you unless your family business is valued at more than $10 million.

 

[TiredX2]

First, THANK YOU for calling it the estate tax.

Secondly, as jeyer has pointed out Kerry supports family business inheiratance. What he doesn't support is billions that have been passed from generation to generation escaping taxation further.

The estate tax is another red herring--- something like less than 1/2% of farms are actually anywhere near the estate tax but Bush et al would have you believe that is what he is protecting.

If the family business you own is worth more than $10mil.... would you care to share?