|
|
 |
|
| Letters to the Editor |
The Estate Tax and Philanthropy
08/02/2004
|
Dear Editor:
Bill Clinton rightly highlights the quiet worry that the
nonprofit community is experiencing as Congress contemplates whether it will
accelerate the repeal of the estate tax (“Filling Four Fissures,” May 2004, page
26). The debate is taking place at this moment, and studies suggest that a
permanent repeal of this tax will have a devastating effect on charitable
giving.
 Nonprofit institutions are in a delicate position: How can they
actively protest the repeal of the estate tax, when they are fearful that they
will be perceived as working against donors’ interests? It is unfair, and even
somewhat cruel, to put our charities in this difficult position.
We donors
need to speak out. We are the ones who might benefit from the repeal, as
President Clinton says, even if we do not need the tax cuts. The fight in
Congress to repeal the estate tax is far from over. We ought to do the work
necessary to preserve the estate tax, so that it will continue to be an impetus
for giving to these institutions that are a central part of American
society.
Agnes Gund
Philanthropist
New York CityWorth welcomes your comments, critiques and suggestions. Please direct
your letters to letters@worth.com
|
|
|
|
|
|
|
