Doug Bereuter: “while this member enthusiastically votes for H.R. 1836 to give a tax cut to American taxpayers he continues his strong…”

“while this member enthusiastically votes for H.R. 1836 to give a tax cut to American taxpayers he continues his strong opposition to the total elimination of the estate tax on the super-rich. The reasons for this opposition has been publicly explained on numerous occasions, including statements in the Congressional Record. On the other hand, this member is strongly in favor of substantially raising the estate tax exemption level and reducing the rate of taxation on all levels of taxable estates. However, to totally eliminate the estate tax on billionaires and mega-millionaires would be a terrible idea for the American society and for continuing to foster very large charitable contributions for colleges and universities and other worthy institutions in our country. Fortunately, I believe it will never be eliminated in the year 2010. Relatedly, this member includes the following opinion piece by William H. Gates, Sr. as it appeared in the Washington Post edition of May 25, 2001. A Tax Break's Unfortunate Legacy (By William H. Gates, Sr.) The power of organized money has won another round, as the Senate's vote to repeal the estate tax has demonstrated. The proponents of wholesale repeal were able to wage a campaign based largely on symbolism and distortion of fact. They cited the plight of farmers, but when a reporter asked for living examples of real small farmers who had lost their farms, they couldn't be found.…”