Estate Tax Action Alert - 11/13/07

November 13, 2007

Dear Supporter of the Estate Tax,

Senator Max Baucus (D-MT) will hold the first of two estate tax hearings on Wednesday, Nov. 14. Warren Buffet, the second richest American, will testify in support of the estate tax. Please join us in the fight to keep a fair estate tax by calling your senators and writing letters to the editor. www.faireconomy.org/estatetax/four_ways.html

If you'd like to submit written testimony to the Senate Finance Committee, please contact Lee Farris lfarris@faireconomy.org.

UFE Is Looking for Stories About Inheriting Farms and the Estate Tax

To challenge the myth that the estate tax hurts farmers and ranchers, UFE is looking for agricultural producers who have inherited farms since 1916 to share their story. Interested farmers will work collaboratively with UFE to write a short statement about inheriting their farms and whether the estate tax affected the process. UFE will compile producers' statements and create a report, which will be used to educate lawmakers and the public about the true impact of estate tax.

Opponents of the estate tax often say the estate tax hurts family farmers. However, the New York Times has not been able find one farm that was sold to pay the estate tax. Many farmers object to being used as "poster children" for a tax break that would not help them, but would instead give over $1 trillion to America's richest families over the next decade. The estate tax helps make family farms and businesses more competitive, because it moderates ever-larger concentrations of wealth and economic clout. We believe this competition is essential to our nation's economic growth and security. Help us set the record straight.

To share the story of inheriting your farm, go to www.faireconomy.org/estatetax/farmersearch.html

Please forward this email to people you know who might be interested. To learn more, contact Lee Farris, lfarris@faireconomy.org, 617-423-2148 x133.

Thanks for taking action,

Lee Farris
Senior Organizer on Estate Tax Policy United for a Fair Economy
29 Winter St.
Boston, MA 02108
617-423-2148 x133
lfarris@faireconomy.org

More Info: Contact lfarris@faireconomy.org

  • The estate tax is paid by estates worth more than $2 million for an individual or $4 million for a couple. 99.7% of all estates do NOT pay the tax, because a relatively small number of people have most of the wealth in the US. www.faireconomy.org/estatetax/index.html
  • The estate tax does not hurt family farms. www.faireconomy.org/estatetax/ETFarms.html
  • The Congressional Budget Office studied the impact of the estate tax on family farms, and found very few farms were impacted by the estate tax. Read the CBO Report.

 

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