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Plan death now - Estate taxes go to 55% soon.
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October 31, 2010, 8:28am Report to Moderator
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CHEYENNE -- U.S. Rep. Cynthia Lummis says some of her Wyoming constituents are so worried about the reinstatement of federal estate taxes that they plan to discontinue dialysis and other life-extending medical treatments so they can die before Dec. 31.

Lummis, a Republican who holds her state's lone seat in the House, declined to name any of the people who have made the comments.

But she said many ranchers and farmers in the state would rather pass along their businesses -- "their life's work" -- to their children and grandchildren than see the federal government take a large chunk.

"If you have spent your whole life building a ranch, and you wanted to pass your estate on to your children, and you were 88 years old and on dialysis, and the only thing that was keeping you alive was that dialysis, you might make that same decision," Lummis told reporters.

Lummis and other Republicans are fighting to renew the Bush-era tax cuts, which expire at the end of the year. The cuts exempt large inheritances as well as certain wage income, interest, dividends and capital gains. She said the estate tax would go from zero this year to a maximum of 55 percent next year.

Lummis said the children of some people choosing death over taxes told her of their parents' decision. She wouldn't identify them and said it would be their decision to come forward.


http://trib.com/news/state-and-regional/article_d826231c-ae29-576b-b23a-13bb9c16dcdc.html
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Rotterdam NY...the people's voice    Rotterdam's Virtual Internet Community    ....And In The Rest Of The Country  ›  Plan death now - Estate taxes go to 55% soon.

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