Only 30 to 50 panthers are left in Florida, and habitat is dwindling. Consider the experience of the Hilliard family in southern Florida. The Hilliards, like many landowners, would prefer to maintain their land for wildlife, but the estate tax leaves them with little choice. Bean is hardly alone in this conclusion. But the farmer, and businessman, will not put himself out of business to protect that.
Repeal is the only real solution.
Some environmental activists conclude that the solution lies in designing new regulations or loopholes, complicating an already arcane tax code. One proposal is to make estate tax relief contingent upon pledging one s land to conservation. Yet many landowners are reluctant to place easements on their land that would permanently restrict potential future use. Federal tax law already provides many loopholes that enable estate planners to protect assets by creating trusts or placing conservation easements on eligible land. These provisions have not prevented the estate tax from having a devastating impact on many species.