Eliminating the Inheritance Tax

The inheritance tax wrecks family businesses. When business owners die, the government comes at the family with their hand out to grab 40% of the value of the business less $5.4 million. Families often need to sell the business to pay the tax.

A family auto dealer may have multiple brands and locations. These businesses can be valued well above $5.4 million. If the current owner dies and the business is valued at $20 million, the family would pay 40% of $14.6 million or $5.84 million.

Family farms and ranches have been sold to pay the inheritance taxes after generations of ownership. The family is our basic economic unit, so why should government seize the family inheritance? 

Government needs to stop all forms of harming the private economy.

Norb Leahy, Dunwoody GA Tea Party Leader