LETTERS: COLUMN OVERLOOKS ESTATE-TAX FACTS

To the editor:

This letter is in response to Peter Kinder's June 18 column concerning estate taxes. Mr. Kinder neglected to mention several critical facts concerning estate taxes.

Fact: Estates of less than $600,000 are currently exempt from all federal taxes. This is scheduled to be increased to $1 million over the next few years.

Fact: Spouses are currently exempt from all federal estate taxes. So much for the myth of losing the family farm or business to the tax man.

Fact: Only the wealthiest 2 percent of estates pay any federal estate tax.

Fact. Gifts to charity are exempt.

Fact: The proposed repeal of the federal estate tax would cost the federal government $50 billion per year in revenue.

Eliminating the estate tax would reduce by half the project surplus. What should we cut? Social Security stabilization? Deficit reduction? Middle-income tax cuts?

Perhaps estate taxes do need to be reformed -- rates reduced, loopholes plugged, a minimum required tax. That would be fine so long as it is on a revenue-neutral basis. After all, doesn't it seem ludicrous to eliminate a tax that benefits the wealthiest 2 percent of the population at the expense of the remaining 98 percent?

MATTHEW RYAN

Cape Girardeau, Mo.