On the recordApril 16, 2015
A study by the Tax Foundation found that repealing the death tax would increase U.S. capital stock by 2.2 percent, it would boost GDP, and it would create 139,000 jobs, which eventually increases Federal revenue. This is a tax on success. It is not a big contributor to the revenue of this country. It is a very, very--a drop in the ocean really, and so, it is time to repeal it. I urge my colleagues to really think realistically, not ideologically, and just do the right thing. I urge you to join my colleagues and repeal the death tax once and for all. {time} 1015 Mr. McDERMOTT. Madam Speaker, I yield 2 minutes to the gentleman from New York (Mr. Rangel).
