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REDUCING TAX EXEMPTION WOULD HURT MANY
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REDUCING TAX EXEMPTION WOULD HURT MANY

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I am amazed at the silence on the bill introduced by the House Majority Leader Richard Gephardt to reduce the state and gift tax exemption from $600,000 to $200,000 in 1993.

I believe this bill will be passed and become law like a thief in the night if Bill Clinton is elected president, and many will be unprepared to take action. Since this would help fund the socialized medical plan that Clinton probably has in mind, I believe many middle-class people who have saved up something for the future and planned to leave something for their heirs will be disappointed.More people have real and personal property worth over $200,000 than realize it, and this is a drastic bill as now submitted. It is probably just waiting for a change in administration to be passed and become law.\ B.F. Moffitt\ Greensboro

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