The potential Estate Tax repeal is garnering much attention. Companion legislation is making its way through both the House and Senate that would repeal the estate tax. This move has raised additional criticisms of the President’s proposal to increase capital gains taxes and make death a taxable event for capital gains tax purposes. Critics point to the financial burden that will be imposed on family businesses by imposing a second death tax, or double death tax, if the estate tax is not repealed and the proposed capital gains changes are passed.
See Tyler Deaton, Obama’s Double Death Tax, Roll Call, Apr. 9, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
