the estate tax, better known as the ``death tax,'' is an onerous tax that should be eliminated. A recent poll revealed that 77 percent of the voters believe that the tax is unfair. This tax is slowly destroying family businesses by slowing growth. And it is unfair that families who have worked their entire lives to build a successful family farm or business should be penalized. Individuals who look forward to leaving something behind for their children should not be punished by confiscatory, anti-family taxes. In fact, after years or even generations, children are often forced to sell the family farm or business just to pay the tax. This is both unfair and unconscionable. However, not only is it the children who must suffer the loss of the family business, but the workers and their children who suffer when they lose their job because the business they've been working at is liquidated to pay the death tax. But it doesn't stop there. The local community, particularly small towns, suffer as well because their customers can no longer afford to buy their products after having lost their job. The estate tax is outdated, it raises little money, and it imposes a large cost on the economy.
Editor's note · Context
Discussing the negative impacts of the estate tax during a floor speech.
Share
More from Jeremiah Smith
together with my friend from Arizona, Mr. McCain, and my friend from Wisconsin, Mr. Feingold, I am introducing the Corps of Engineers Modernization and Improvement Act of 2002. ``Corps Reform'', as it is frequently billed, has been the…
I rise today to again support the President in his duty, I believe, to stop Iraq from bringing weapons of mass destruction throughout the world. The warmonger is Saddam Hussein. He is now moving us toward another major military engagement…
by now, most everyone in the Nation has heard of the problems caused by MTBE (methyl tertiary butyl ether). I am very pleased that S. 950, the Federal Reformulated Fuels Act of 2002, reported by the Senate Committee on Environment and…
I rise today to show my support for the 90th anniversary of the Girl Scouts. Through the Girl Scouts, girls acquire self-confidence, a sense of responsibility, life skills and integrity. In each level of the Scouts, young girls learn…





