Daily Archives: July 28, 2010

Why We Need to Kill The Death Tax by Gregory Hilton

Whitemarsh Hall outside of Philadelphia was constructed in 1921 by J.P. Morgan's partner, Edward T. Stotesbury. It was then America's fifth largest home, and his other residences were "El Mirasol," the first Spanish style mansion in Palm Beach, Florida, and Wingwood House, his 80 room “cottage” in Bar Harbor, Maine. Stotesbury's 150 servants rotated between various residences and maintained his private railroad car, yacht and fleet of luxury automobiles. Whitemarsh Hall was over 100,000 square feet, and it had 147 rooms, 24 fireplaces, three elevators with access to six different levels (three below, three above), a movie theater, barber shop and wine cellar that remained fully stocked through out Prohibition.

The death tax is now back on top of the legislative agenda. As part of George W. Bush’s 2001 tax cut, the estate tax was reduced gradually and this year it is zero. The death duties will go back into effect next January unless Congress acts, and the old 55% rate will return. Continue reading

Rep. Mary Fallin Wins Gubernatorial Primary, But Will Republicans Unite? by Gregory Hilton

Rep. Mary Fallin (OK) won the GOP gubernatorial nomination last night with 55% of the vote. It was a clear victory but State Sen. Randy Bragdon’s 39% indicates he picked up considerable support over the past few weeks. The results were damaging to the reputation of the state’s best known survey, the Sooner Poll. Continue reading