Estate Tax Debate
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* Frank Amon wants to make sure that taxes are paid on untaxed increases in values of estates on the death of the owner [“Death and Taxes,” Letters, Sept. 17]. Since these value increases all fall into the category of long-term capital gains, I would not argue with his proposal as long as the gains are indexed to inflation so that taxes are paid only on real gains and not on paper profits.
GLENN TURNER
Woodland Hills
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* The estate tax is only a postponement for a portfolio made up of stocks. The fixed-income/mutual fund portfolio is taxed along the way. Dividends, capital gains and interest are taxable income. If the portfolio at death exceeds the unitary credit, the amount over the credit is taxed. Finally, the wages that created the portfolio were taxed on the front end.
This is your gracious tax system, Mr. Amon.
ROBERT PISAPIA
Westlake Village
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