Estate tax repeal

The March 28 letter that claims it would be totally wrong to repeal the estate tax shows a lack of understanding of the estate tax.

Even if the estate tax is not repealed, it needs to be severely over-hauled. The $500,000 limit has been around for decades and as anyone will tell you half a million dollars doesn’t go as far as it used to.

Should something happen to my wife and I, the estate tax would be based on our insurance policies, the value of our house and our belongings within the household. The $500,000 limit is quickly reached. Our parents would be left with roughly $350,000 to raise our son, who is less than a year old I am not wealthy. I do not come from a wealthy family. However, it is my wish to one day leave enough behind to ensure that my son’s life is just a little bit easier than mine.

James H. Black

Winthrop