You are currently viewing the printable version of this article, to return to the normal page, please click here.

LETTER TO THE EDITOR: Death to the ‘death tax’

Question of the Day

What has been the biggest debacle on Obama's watch?

View results

I agree with all that was written in "Taxing marriage" (Commentary, Thursday). I have another beef with allowing the Bush tax cuts to expire in January: the resulting reinstitution of the so-called "death tax." I'm 83 years old, retired and most concerned where my hard-earned "estate" will go.

Under President George W. Bush's plan, there was no taxation of money or other values below $5 million that are willed to heirs upon one's death. But if the Bush tax cuts are allowed to expire, the old 35 percent tax on estates worth more than $500,000 will be back in place.

Very simply analyzed, this is a double taxation. All that I own, have invested or earned was all taxed at some earlier time at some rate. Having it taxed again -- when it is turned over to my heirs -- would simply be double taxation. I have paid tax on all my earnings, irrespective of their sources, inclusive of interest from investments and retirement funds. Why should they be treated as taxable earnings for my heirs?

It must be recognized that most of us have worked hard and paid all appropriate taxes on our earnings -- and we've done so with our families in mind.


Chevy Chase

© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.

blog comments powered by Disqus
TWT Video Picks
You Might Also Like
  • Maureen McDonnell looks on as her husband, former Virginia Gov. Bob McDonnell, made a statement on Tuesday after the couple was indicted on corruption charges. (associated press)

    PRUDEN: Where have the big-time grifters gone?

  • This photo taken Jan. 9, 2014,  shows New Jersey Gov. Chris Christie gesturing as he answers a question during a news conference  at the Statehouse in Trenton.  Christie will propose extending the public school calendar and lengthening the school day in a speech he hopes will help him rebound from an apparent political payback scheme orchestrated by key aides. The early front-runner for the 2016 Republican presidential nomination will make a case Tuesday Jan. 14, 2014, that children who spend more time in school graduate better prepared academically, according to excerpts of his State of the State address obtained by The Associated Press. (AP Photo/Mel Evans)

    BRUCE: Bombastic arrogance or humble determination? Chris Christie’s choice

  • ** FILE ** Secretary of State Hillary Rodham testifies on Capitol Hill in Washington, Wednesday, Jan. 23, 2013, before the Senate Foreign Relations Committee hearing on the deadly September attack on the U.S. diplomatic mission in Benghazi, Libya, that killed Ambassador J. Chris Stevens and three other Americans. (AP Photo/Pablo Martinez Monsivais, File)

    PRUDEN: The question to haunt the West

  • Get Breaking Alerts