|By Casey Seiler, Times Union, Albany, N.Y.|
The Empire Center's
McMahon noted that because of the disparity between the federal and the state estate tax thresholds,
"Far from being limited to what we would think of as the superwealthy, the estate tax hits a growing number of middle- and upper-middle-class households and small businesses and farmers," said McMahon.
"When we have debates in
Based on that standard — including assets such as home worth, business worth, life insurance, and investments such as retirement accounts — "there's well over half a million New Yorkers who share in assets of
He noted that
McMahon, a vocal critic of Cuomo's property tax proposals, called the estate tax reforms the "purest play" — the most sound — among the proposed tax cuts in the executive budget.
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|Source:||McClatchy-Tribune Information Services|