I think taking the Social Security Trust Fund off budget and stopping the process of borrowing the money out each year is part of what I consider honest budgeting. I think my colleague's speaking out in support of reducing the tax burden on working families and middle-class families is very important. And one of the items that my colleague mentioned I think is a particularly important issue, and that is getting rid of the death tax, the so-called death tax or inheritance tax. And another issue in my district is, I represent the east central coast of Florida, and I have a lot of suburban communities along the coast, but I have a lot of ranchlands, and I have a lot of these orange groves and citrus planters and cattle ranchers; and they are having a terrible time when they want to pass essentially the family farm, in Florida we call it the family grove or the family ranch on to the kids, the tax burden sometimes is so prohibitively bad that they literally have to sell the farm in order to be able to pay the tax bill because it frequently gobbles up a third of the land or a third of the valuation of the land. And this is just wrong.
David Weldon: “I think taking the Social Security Trust Fund off budget and stopping the process of borrowing the money out each year…”
Editor's note · Context
Discussing the impact of the death tax on family farms and businesses in Florida.
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