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Estate Tax Quotes
Me and my dad are the biggest promoters of an estate tax in the US. It's not a popular position.
I don't want to get into the 'who's a hostage-taker' discussion here, but what is the estate tax? It's a double tax on death. Economists will tell you that it's really not a tax that soaks the rich, but it's a tax on capital that deprives business investment and therefore job creation.
Democrats who see virtue in the estate tax are doing the equivalent of aborting future enterprises. They deprive businesses of oxygen with their support for capital gains taxes and disregard for contracts.
I support exemptions from the estate tax to ensure that when Maine farm owners die, their families will be able to continue to farm the land that they have protected and lived on, often for generations.
All those predictions about how much economic growth will be created by this, all of those new jobs, would be created by the things we wanted - the extension of unemployment insurance and middle class tax cuts. An estate tax for millionaires adds exactly zero jobs. A tax cut for billionaires - virtually none.
It is no secret that our tax code is drastically outdated and burdensome to all Americans. Fortunately, more and more people are aware daily of the inequities that arise from things such as the estate tax, and it has come to the forefront of Congress' agenda.
The estate tax punishes years of hard work and robs families of part of their heritage by imposing a huge penalty on inheritance after death - a tax on money that has already been taxed.
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