2 Monday, April 2, 2001 Possible Estate Tax Repeal Could Affect Universities By Monica Chen Staff Writer President Bush’s plan to repeal the estate tax is being met with feelings of ambivalence from university adminis trators and debate from economic experts about the measure’s potential economic impact. The estate tax applies to the inheri tance package that parents bequeath to their children upon death. The first $675,000 of an estate is exempt from taxation. The rest is taxed on a sliding scale, beginning at 37 per DTH Snags Regional SPJ Awards Staff Report The Daily Tar Heel took home a hand ful of awards at the Society of Professional Journalists Mark of Excellence award cer emony this weekend in Maryland. Competing against college newspa pers in Delaware, Maryland, North Carolina, Virginia and Washington, D.C., the DTfi won three first place awards, three second place honors and one honorable mention. First place winners’ submissions will be Extra Extra Introducing The Newspaper Readership Program Newspapers will be available to you in your residence halls* at NO CHARGE STARTING: April 2nd Please visit our newspaper display for THE RALEIGH NEWS & OBSERVER THE DAILY TAR HEEL USA TODAY THE NEW YORK TIMES THE DURHAM HERALD SUN Be Responsible... Please Recycle • Craige. Carmichael. Aytotk, Graham, f Teague and Ehringhaus DATE TODAY, Monday, April 2 - Friday, April 6 PLACE UNC Student Stores r Student Stores - 1-800-952-7002 IjOCctl Artccorved Office: 919-968-7894 • Special Payment Plans Available. "Officially Licensed comma Ring Dealer cent and rising to as much as 55 percent for estates worth more than $3 million. As for higher education, economic experts are divided on the significance the act would have on the amount of money donated to universities. Speed Hallman, UNC’s director of development communications, said no one knows for sure what the outcome of the repeal would be. “Some say it’s good for higher education. Some say it’s bad,” Hallman said. “It’s a very complex issue.” Many wealthy households bequeath large chunks of their estates to charitable organizations for tax deductions so that sent on to the national competition. Mark Slagle won first place in editorial writing, Anne Fawcett won first in general column writing, and the DTH staff won first for in depth reporting for its Master Plan series. Second place winners included Joe Monaco for general column writing, Cate Doty for spot news reporting and the DTH staff for in-depth reporting for breaking down the chancellor search process and profiling potential candidates. Sports Editor Rachel Carter received an honorable mention for sportswriting. inheritors are left with less of a tax burden. Mike Sholtz, director of the Development Office at Duke University, said nobody knows how the possible repeal of the estate tax is going to affect gifts from large estates. “My feeling is that more money in the family results in the long term as more donations.” Sholtz said private schools such as Duke would run more of a risk of losing money than public universities like UNC. But Sholtz said the impact likely would not be significant to either type of institution. “At best, if the money doesn’t come to us, the children would have more UNC senior Geoffrey Graybeal won honorable mention for an article he wrote for the Herald-Sun. The Blue & White and television journalists from the School of Journalism and Mass Communication also won multiple awards. DTH Editor Matt Dees said he is proud of the awards. “I’m especially pleased that the Master Plan series was honored because that truly was a team effort,” he said. “We really do have some very talented writers and sharp editors, but I knew that before this weekend.” News money to donate,” he said. Hallman stressed the importance of donations to public universities, such as UNC. “The state gives a foundation but the donations provide the excellence." Boone Turchi, an economics profes sor at UNC, said repealing the estate tax would likely worsen the distribution of wealth and would do nothing to help the economy in a recession. “There would be a sizable impact (on the amount of donations),” Turchi said. He cited that people give to charities and universities because “it would do good” and “otherwise (the money) The University and Towns In Brief Concerts Canceled Because of Heavy Rain The opening bash marking the Art Springs to Life Festival that was sched uled to take place April 1 was canceled because of inclement weather. The rest of the events, many of which will occur on UNC’s campus, planned throughout the month of April are still i $5 off! 12 Sessions or More I 942-7177 J v '' J &Ta* j -iwl I mm * m EXP. 4/16/01 _ | i Must have coupon! i ™ ■ ■ —* — a a i jej i rw 3 Miles from Campus *ls-501 S. S Smith Level Road ' " OPEN 7 DAYS A WEEK Hl6 Career CorilCf University Career Services 962-6507 Nash Hall Division of Student Affairs ucs@unc.edu http://careers.unc.edu WALK-IN HOURS: Have your resume critiqued or ask a quick question of a UCS counselor. Mon. - Fri.,lo:ooam-3:oopm a (. 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