Estate Tax Break
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“Estate Tax Repeal May Cut Some Benefits Too” [Money Talk, June 23] is more than a bit frustrating to an old man like me.
I’m 76, worked until I was 70 so that I could maximize my Social Security and retirement income, and am still working part time as a “consultant” to try to keep my head above water.
Now, “our” government (just whom does it represent, anyway?) proposes to eliminate a tax on wealthy people that brings in almost $20 billion a year.
When my income exceeds $40,000, that same government starts taking part of my meager Social Security benefits in the form of income tax.
I think someone needs to look into how the government determines who is rich and who is poor. Apparently they think that $40,000 is too much for my wife and me but that estates of a few billion should not be taxed because that would be unfair to the heirs. Who, incidentally, did nothing to earn it, of course.
THOMAS W. McCARTHY
Chino Hills
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