Death Tax Horror Stories
Sold farms. Lost jobs. Ruined businesses.
The stories below tell the real story about what the death tax does to the American Dream. Read them and learn about the personal impact that the death tax has on family business owners and farmers.
If you are a member of the press and would like to talk to one of the authors, please contact Adam Nicholson: adam.nicholson [@] nodeathtax.org.
Do you or your children face the loss of your business or farm due to the Death Tax?
Larry's father is a true "up-from-the-bootstraps" entrepreneur. The family's slice of the American dream is threatened when an IRS agent shows up in a fancy sports car to assess estate value for the death tax.
John Ed Anthony - Arkansas (Op-Ed)
John Ed Anthony has watched countless mill towns die when family-owned forestry and mill companies are sold to pay the death tax. He is worried that his business will be next.
John Ed Anthony - Arkansas (Senate Testimony)
John Ed Anthony shares a longer version of his story in his testimony to the U.S. Senate Finance Committee.
Pearl Marr - Arizona (video below)
Pearl's family was forced to sell their family-owned lithographic business - and lay off over 200 workers - because of looming death tax liabilities. Click here to see a video of the Marr family's story!
Jeff's family was forced to sell the majority of their 100+ year-old ranch when Jeff's father died. The family hopes they can keep the rest of the ranch when he passes away. Click here to see a video of Jeff sharing his story!
Larry and his wife built their family-owned security systems business from the kitchen table. No security system will save their business from the death tax.
George Connolly -Colorado (video)
George Connolly started his business with a single tow truck. The estate tax was the last thing on his mind when he started his company, but now it is one of his primary concerns.
Guy loves the Florida State University Seminoles so much that he started a store to supply fans with gear and clothing. The business has surved recessions, hurricanes, and bad seasons, but will it survive the death tax?
Herman's father, grandson of slaves, started with only the shirt on his back but died with nearly $1 million. His family lost most of it due to the death tax.
Ray's entire family helped build their farm. His kids even gave up college to follow the family dream. Now they stand to lose their life-work.
Eugene started inventing when he discovered that he could build better farm equipment than he could buy. His success fuels the local economy and funds the charity, but it is all in danger of being destroyed by the death tax.
The McCall family are 5th-generation family farmers. They've survived recessions, depressions, crop cycles and droughts and floods, but they may not survive the next death tax.
Boysie's father built the family shipping company from nothing and now faces its loss if the death tax is not repealed.
Dickie knows how to cook good cajun food, but he doesn't have the recipe for keeping a family-owned restaurant safe from the death tax.
The forest-land owned by Hancock lumber supplied masts for the Royal Navy 200 years ago. Today, Hancock Lumber keeps thousands of acres safe from development, but that will all change if the death tax is not repealed.
Ron's grandfather started the family business over 100 years ago and taught Ron the virtues that have kept the business running strong. Unfortunately, their hard-work and discipline has only increased their estate tax liability.
Victor's family was forced to sell their business because of death tax liabilities. They hoped the new owners would keep the business in Mississippi rather than stripping the equipment and moving out-of-state.
The Muralt family has built a thriving business serving weary travelers who pass through Missoula. Their hospitality is unlikely to be rewarded by the IRS when Walt passes away.
Duane explains why repeal, not reform, is the only workable solution for cash-strapped construction companies like Schumaker construction.
Bill and his family come together every year to discuss how they can save their business and the 170+ jobs they create from the death tax.
Peter and his father created Gdiesel - an innovative fuel that burns cleaner and more efficiently. In the process they've created 33 jobs and have hopes to create hundreds more -- if the death tax does not take it all away. Click here to see a video of Peter sharing his story!
Travis' grandfather started the family business in Las Vegas 50 years ago, long before the Vegas strip started growing. His hard work laid the seed for a family business that employs over 500 workers. Will it continue for another 50 years?
Bruce is the owner of a wine store in downtown Manhattan. He knows that while many of his products get better with age, the death tax is just all bad grapes.
Kevin may have to sell his family's 80 year-old farm due to death tax liabilities.
Doc and his wife have already felt the cut of the death tax, selling of considerable land to pay liabilities. At 83, Doc continues to farm and plans to die with his "boots on."
Lynn started his family business over 30 years ago and has nearly lost it twice. Since then, he has built it into a successful company that employs close to 100 workers.
Lynn Stuart wants to keep his business alive but the death tax threatens to ruin it. It wouldn’t be the first time he nearly lost his company.
Steve Swanson - Oregon (Letter-to-the-Editor)
Steve responds via letter-to-the-editor to an article claiming the estate tax only impacts "100 small businesses." Steve shows that this is a straw man argument.
Steve Swanson - Oregon (U.S. Senate Testimony)
In two generations Swanson's family business grew from 70 employees to over 1,000. When the next generation faces the death tax, the company may lose all those jobs.
Peter Nelson describes how the death tax will hit the achilles heel of his 3rd-generation, family-owned oil-distribution business.
Tim's father built the family's food-service distribution business by reinvesting 98% of his profits. In the process, he sowed the seeds of a massive estate tax liability which has prevented the company from growing and may force its sale.
Clayton and his brother were forced to sell nearly half their ranch when their father died and still didn't have enough money to pay the tax. Today, Clayton works off the ranch to pay their liabilities, hoping that one day he can return to full-time ranch work. Click here to see a video of Clayton sharing his story!
33 years ago, Don Root and four other employees bought GM Nameplate when the current owners wanted to sell. They saved their jobs and built the company from 60 employees to over 1,000. Today, Don hopes to leave the business to his sons - if the death tax does not force them to sell it when he dies.
Gary's great-grandfather helped rebuild Seattle after the great fire of 1889. Death tax liabilities nearly forced a firesale of the business when Gary's mother died.
The death tax substantially weakened John's company when his father passed away, but the company managed to survive. John is not sure that the company will be able survive next time the tax comes due.
More stories coming soon!
Contact Congress
Have you told the 112th Congress to Repeal the Death Tax?
- ATR & AFBI: End Punitive Tax on Hardworking Hoosiers
Fri, Dec 14, 2012 - Tax Coalition Calls on Tennessee Governor Bill Haslam to Quickly Repeal Inheritance Tax
Fri, Dec 14, 2012 - AFBI: This Bill is a Matter of Survival
Thu, Dec 13, 2012
- A Score of the Death Tax Repeal Permanency Actby Stephen J. Entin, April 2011
- The Cost of Compromise: Impact of the 2011-2012 Estate Tax by Anthony Davies, December 2010
- Life Insurance Cash Cow: An Issue Brief on the Hidden Side of Estate Tax Lobbying by Tim Carney & Dick Patten, November 30, 2010
- Growth Consequences of Estate Tax Reform, by Dr. Douglas Holtz-Eakin and Cameron Smith, American Family Business Foundation, September, 2010
The Death Tax fight will soon be decided in the halls of Congress by your representatives. AFBI is leading the fight for repeal in Washington, but we cannot do it alone.