Political Quotes

On the recordApril 19, 2007
although we are coming to an end to this time of discussion, I think that we all hope that promoting prosperity that has taken place over the last few years will not come to an end. And I want to very quickly point out that this is what is about to come to an end, even though it has been working, even though we have been creating jobs, even though the deficit has been cut in half actually. Despite many of these spending measures, the deficit has been cut in half over the last couple of years. But we are about to see an end to tax relief for the average family of four earning $40,000 a year of $2,052 in taxes. Taxes are going to go up. The Republican budget focuses on promoting prosperity through the tax relief of $4,712 in average taxes paid by 27 million small businesses. These are small businesses. These aren't necessarily the wealthiest of the wealthy. These are common, everyday Americans working hard and growing our economy. I hope that we can come back to a budget that promotes prosperity by keeping the death tax at zero through 2012, perhaps even beyond, because I believe that the government should not have the right to take 55 percent of an estate. That would be 55 percent of a ranch or a farm in my district, where we are encouraging young farmers and ranchers to engage in the business, to engage in the economy. And yet they would have to come up with cash to inherit the farm or ranch? Unconscionable. I believe that we can do better.
Said by
Adrian Smith
Republican · Nebraska

Editor's note · Context

Discussing the impact of tax relief and the death tax on small businesses and families.

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