OK, 55 percent. So if you have an estate of $3 million, when you die Uncle Sam is going to get half of it. Not your children, not your grandchildren, not your friends, not a charity, but Uncle Sam. You talk to people about that, they do not realize that, because most of us will not accumulate $3 million, unfortunately. But still, just because they have been successful, they have to have a 55 percent tax rate when they die.
Discussing the impact of estate taxes on families during a floor speech.
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