where can I get data on how many people benefit from repeal of estate

[still_one]

tax?

Thanks in advance

[Hamlette]

1. 1%

Roughly 99 percent of estates pay no estate tax at all. Among the few estates that do owe taxes, the "effective" tax rate — that is, the percentage of the estate that is paid in taxes — averaged about 19 percent in 2003, according to the IRS, far below the top estate tax rate of 50 percent that these estates paid.

Why is the effective tax rate so much lower than the top tax rate? Estate taxes are due only on the portion of an estate’s value that exceeds the exemption level, not on the entire estate. For example, at today’s $1.5 million exemption level, a $2 million estate would owe estate taxes on $500,000 at most. In addition, a large portion of the estate’s remaining value can be shielded from taxation through available deductions (for charitable bequests and state estate taxes paid, for instance).

It’s also worth noting that the effective estate tax rate will fall below 19 percent over the next few years, as the exemption level rises and the top estate tax rate declines.

http://www.cbpp.org/pubs/estatetax.htm

[TahitiNut]

3. 1% of estates does not mean 1% of 'people'

Many people have no 'estates' ... or not of the size that requires any tax accounting of any kind. Many die and leave no real property, no investments, and no farms or businesses.

[Hamlette]

6. well, actually, nearly everyone has an estate in the legal sense

because a legal estate is an accumulation of all assets and liabilities so even if you are in debt when you die, you have an estate.

So, only someone with no assets, not even the shirt on his back, and no liabilities would be without an estate.

As for tax accounting, you don't pay any estate tax on the first $1.5 million so there is no tax "accounting" for 99% of us. (You might be confusing "tax accounting" with "probate". Horse of a different color.)

[still_one]

5. exactly what I was looking for

much thanks

[firefox]

2. You need to use search engines

DU has a search engine and there was an article up today that said that the estate tax is now only paid by the 3% of Americans with estates over $7 million dollars. I find it hard to believe the 3% figure and do not have a link anyway.

Here are the search results at Zmag.org for "estate""tax"- http://tinyurl.com/cer6b

[still_one]

4. thanks