Tuesday, October 17, 2006

Death Still Inevitable for the Rich, But Not Taxes

"Washington voters are being asked this fall to repeal a tax that very, very few residents - or their relatives - ever will pay.

"The tax in question is the estate tax, and it will hit an estimated 210 Washington estates this year. That's a tiny fraction of the more than 45,000 people expected to die, according to state Department of Revenue data. The tax puts about $100 million a year into public schools and college enrollment slots.

"Initiative 920 would repeal the tax, along with the revenue for schools, which has prompted a costly fight by the state's teacher union and tax-fairness advocates to retain the tax.

"The leading supporters of I-920 include ultra-conservative tax activist Dennis Falk of Fox Island and two major business associations. So far, the pro-I-920 campaign is funded heavily by donations from a Seattle developer, Martin Selig, who put in $840,000 to help get the measure qualified for the Nov. 7 ballot using paid signature-gatherers.

Thanks to the Olmpian for this illuminating article.

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