Phil Gingrey: “I personally do not need that $3 million exemption or even the…”

On the recordJune 18, 2003

I personally do not need that $3 million exemption or even the $600,000 exemption. I would probably be fine with a $300,000 exemption; but the point is, it is a double taxation and it is wrong. It is wrong to tax anybody twice on the same income. These people, no matter what their net worth, they have paid taxes. They have paid at the highest marginal tax rate; and it is totally wrong, as the gentleman from Missouri (Mr. Hulshof) said, to have to worry about paying taxes after death.

Said by

Phil Gingrey

Georgia

Source

govinfo.gov

Editor's note · Context

Debating H.R. 8 and opposing the Pomeroy amendment regarding the estate tax.

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Phil Gingrey: “I personally do not need that $3 million exemption or even the $600,000 exemption. I would probably be fine with a…”

Editor's note · Context