Issues: estate tax

Estate Tax Malarkey

June 6, 2005

In TV and radio ads two conservative groups greatly overstate the burden that the federal estate tax puts on heirs to a family farm or business.

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Q: I read this on FB. Is it true? The U.S. Treasury just declared the U.S government is insolvent.

A: No. That’s the conclusion of an opinion piece that cited a Treasury report showing the government’s liabilities outweigh its assets. But that’s been the case for decades, and unlike an insolvent business, the government can levy taxes.

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