The common misconception by the liberals on the House floor when we debate reductions in the death tax or the inheritance tax is that this is a tax that one only needs to be concerned about if one is extraordinarily wealthy. But the inheritance tax applies to anyone who has parents and who is part of a will or a trust or estate. It is virtually every American. Mr. Speaker, does the gentleman from Colorado (Mr. Tancredo) agree with me that this is a tax that every single American ought to be concerned about?
Bob Schaffer: “The common misconception by the liberals on the House floor when we debate reductions in the death tax or the…”
Editor's note · Context
Discussing the implications of the inheritance tax during a House floor debate.
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