Many reasons to support Braley

A Joni Ernst supporter criticizes Bruce Braley for supporting the federal estate tax ('Estate taxes are unfair, unjust,” July 29). The writer falsely states this tax was 0 under President Bush. Not only was the federal estate tax never below 45 percent at any time during Bush's presidency, but at all times the federal estate tax has been lower under Obama's presidency than under Bush.

In 2001, when Bush took office, estates valued above $675,000 were taxed at 55 percent, by 2008 the tax rate dropped to 45 percent. The writer is correct the federal estate tax is now 40 percent.

However, not only is the current federal estate tax rate 5 percent lower than the lowest rate under Bush, but the value of an estate before it is subject to any federal estate tax has increased by more than two and a half times. In 2008, estates valued over $2 million were subject to the federal estate tax, today only estates valued over $5.34 million are subject to the federal estate tax.

Braley is not alone in his support for the federal estate tax. Bill Gates and Warren Buffett are strong supporters of the federal estate tax. In a May CNBC survey of millionaires, 64 percent of millionaires surveyed supported higher taxes on the wealthy to lessen income inequality.

Braley's support of the estate tax is just one of many reasons I support him.

Sara Riley

Cedar Rapids