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This year liberals have sought to control the banks, the auto makers, your health care, and now they want your money after you die. By seeking to make the death tax permanent, Speaker Pelosi is keeping our economy from recovering and ensuring that the life savings of hard-working Americans are not passed on to their children, they are confiscated by the government.
Not only is it unfair and immoral to tax someone for dying, it also undermines job growth and wage creation. I am a cosponsor of H.R. 205, the Death Tax Repeal Act, which repeals the federal estate and gift taxes. Douglas Holtz-Eakin, the former Congressional Budget Office director, estimates in a new study that the economy would create roughly 1.3 million more small business jobs with no death tax instead of Speaker Pelosi’s planned 45% permanent rate.
Today President Obama is holding a jobs summit to look for ideas on how to create jobs here at home. He can start by vetoing this bill. Democrats have tried unsuccessfully to create jobs for the past 10 months. Their misguided policies of more government control, higher spending, and tax increases have made our bad economic situation measurably worse. Americans have made it clear that they want less government control, less spending, and lower taxes. It is time for the president and the leadership in Congress to listen.
Regarding the “death tax”, commonly known as the estate tax. For 2009 $3.5 million is excluded from this tax. Less than 1% of the population is affected by the estate tax. Reminds me of the Kings and Queens of medieval Europe with all future generations guaranteed power and wealth by luck of birth. Is the average every day working Joe dumb enough to be concerned about protecting the heirs of the wealthy? I hope not.
This year liberals have sought to control the banks, the auto makers, your health care, and now they want your money after you die. By seeking to make the death tax permanent, Speaker Pelosi is keeping our economy from recovering and ensuring that the life savings of hard-working Americans are not passed on to their children, they are confiscated by the government.
For eight years, Republicans failed in their regulatory responsibilities in every area. Their mantra was “Get the government off the back of business.” Turns out unregulated business can screw the country up without government help. The only thing unfair and immoral is your outrageous claim that “hard-working Americans” will be unable to leave anything to their children but “will have their life savings confiscated by the government.” Honestly! How do you call yourself a patriot when you are willing to let thousands pay for freedom with their lives while you will not have yourself and your rich friends pay a nickel for the well-being of our nation?