Gruesome tax

The Raleigh paper published the letter below (they like short ones).   I titled it “Terrifying Tax Tactics,” but that may have been too much to print in one column.
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Not-so-scary tax

North Carolina’s inheritance tax applies only to folks who meet their Maker while worth over $5 million. Just in time for Halloween, the tax-exempt Civitas Institute said it’s a gruesome tax that turns Revenue Department officials into grave robbers (Oct. 30 Under the Dome).   That kind of rhetoric aims to frighten us and stop us from thinking. Boo!

Read more: http://www.newsobserver.com/2011/11/02/1612496/not-so-scary-tax.html#ixzz1cYHMeQYU

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Meanwhile, the group’s poll shows NC voters favor some kind of wealth distribution:

Do you think our government should or should not redistribute wealth by increasing taxes on wealthy earners?
Should 52%
Should not 40%
Don’t know/refused 9%

But 66 percent oppose the inheritance tax:

“When a North Carolina resident dies, the state government levies a tax of up to 16% on assets above $5 million which includes businesses, homes, farm animals(!), bank accounts and everything else the deceased owned. The tax is levied in addition to the Federal estate tax of 35%. Please tell me if you support or oppose this practice?”

Total Support – 25%

Total Oppose – 66%

Strongly Support – 12%

Somewhat Support – 13%

Somewhat Oppose – 15%

Strongly Oppose – 51%

Don’t Know/No Opinion – 7%

Refused – 2%

http://www.nccivitas.org/2011/civitas-poll-n-c-voters-say-kill-the-death-tax/

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Author: patoglesby

From 1982 to 1990, I worked in tax policy for Committees of the United States Congress. In recent years, I was Adjunct Lecturer at UNC-Chapel Hill's Business School and then Adjunct Professor at its Law School.

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