Iowa’s inheritance tax is too high

To the editor:

A goal of Gov. Terry Branstad is economic growth. When I came to Iowa in 1977, the population was about 3 million. Today, it's still about 3 million.

Why the stagnant population? Iowa's long, cold winters might be one reason as retirees exit to Arizona and Florida. Obviously, the governor has no control over the weather.

Secondly, the stagnant population may be due to Iowa's daunting 15 percent inheritance tax, with no exemptions. Only six states have inheritance tax.

Isn't 15 percent excessive? You accumulate over a lifetime assets like a home, stocks, bonds and savings all the while paying income taxes. Finally, when you pass in Iowa and your heirs are living in Iowa, they are hit with a 15 percent inheritance tax. Wouldn't half of 15 percent or 7 1/2 percent be more reasonable? Also, the existing rate is a burden for those of modest means.

With a reasonable inheritance tax more Iowans would remain in the state, their assets, ideas and creativity contributing to Iowa's growth.

Unlike the weather, Branstad can have great influence over Iowa's inheritance tax.

Robert B. Anthony

Cedar Rapids