Johnson, Colleagues Push For Estate Tax Repeal

4/02/2001 10:12 AM Eastern

Black Entertainment Television chairman and CEO Robert
Johnson is heading a list of African-American business leaders and entrepreneurs
who Monday announced a call for the repeal of the estate tax.

The leaders, who include Earl Graves, chairman, editor and publisher of
Black Enterprise magazine; Dave Bing, former pro basketball great and the
Bing Group of automotive suppliers; Ed Lewis, chairman and CEO of Essence
Communications, publishing interests that includes Essence magazine, say
the estate or 'death' tax - which is taxes businesses after the death of the
owner -- hurts the ability of African-American businessmen to pass on their
business to future generations. The elimination of the estate tax is part of
President Bush's proposed 10-year, $1.6 trillion tax package

The group's perspective on the tax will be unveiled in full-page ads
appearing in The Washington Post and New York Times on
Wednesday, April 4, said BET.

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