Thursday, May 27, 2010

Advice for Mr Kyl

Rep Kyl (a reported Republican) has proposed new estate tax rules:

It is unclear exactly how the plan would work, but one scenario would allow people to create “prepayment trusts.” They could put assets into the trust for five years and pay a 35% capital-gains tax on the gains of the assets. When the taxpayer dies, the assets would pass to heirs without any estate tax.

I've got a better idea - do away with the estate tax completely.

pm

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