Taxing Us to Death and Beyond


I thought this argument, forgive the pun, was dead and buried. The issue: an estate tax that penalizes business owners, investors and all survivors that must pay Uncle Sam for the success and monies earned by a person before they passed away.

The so-called death tax was part of the 2001 reform package that gradually reduced its impact. Elimination was scheduled for 2010 (although it was never made permanent and was ultimately scheduled to return a year later). But at a time when we should be looking at maintaining the elimination, the Obama administration and Congress are indicating a high priority in keeping the tax in place (with no removal in 2010).

Supporters of that plan say there will be little impact on the economy since they intend to keep the tax at its current level. Are they serious? Who do you want to have that money? The government or Americans who would be in position to increase private sector spending and investment.

The Small Business & Entrepreneurship Council outlines the case. Read it and, if this plays out as projected, weep.

0 thoughts on “Taxing Us to Death and Beyond

  1. get real. the dead person earned the money in large part because the government created an environment where the money could be made. .NOT. the heirs, they earned nothing. why is it just that the heirs get an untaxed free-be by accident of birth?

  2. Fundamental question: Who would you rather see have the money — the government or the family of the person who earned the money and likely already paid taxes on it throughout his or her life?

    The death tax is complicated, costing the economy about as much to comply with as the revenue it raises, and discourages private investment and entrepreneurship.

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