|
|
 |
 |
Phil Kerpen newsletter |
Death TaxWill Senate Democrats Really Cut the Death Tax?Death Tax | Syndicated ColumnOne of the most significant votes in the recent Senate budget vote-o-rama was on the federal death tax. Not the disappointingly predictable vote on full repeal, which just two Democrats supported, but the vote on an amendment offered by Senator Mark Warner of Virginia that created a deficit-neutral reserve fund for "the repeal or reduction of the estate tax." It racked up 80 votes, including 35 Democrats. Zero Republicans and just 19 Democrats voted no. So the Senate has voted overwhelmingly to at least reduce the death tax. Good. It really should be fully repealed. Read the rest at American Commitment. The Senate Democrats’ outrageous death tax hikeDaily Caller | Death TaxPublished: 11:39 AM 07/20/2012 You’re born. You work hard. You pay your taxes all your life. Maybe, you build something along the way. But when you die the IRS can tax you again. This year, they can take 35 percent of everything above $5 million. Senate Democrats announced yesterday that as of January 1, they want to raise that to 55 percent of everything above $1 million. And because the $1 million is not indexed to inflation, over time this confiscatory tax would hit almost everyone who achieves some success and wants to pass it on. Read the rest at the Daily Caller. Obama's tax hikes for the 'rich' plan is a disasterDeath Tax | Fox News Opinion | Investment Taxes | Tax ReformBy Phil Kerpen On the heels of the widespread exposure of President Obama’s health care law as a massive middle-class tax hike, his decision to bring back his infamous plan for “tax hikes on the rich” is an economic and political disaster. Read the rest at Fox News Opinion. Senate GOP to Roll Over on Death Tax?Death Tax | National Review OnlineFull repeal of the death tax is an economic and political winner. Phil Kerpen On taxes, Republicans have held to the strongest position politically and economically: no hikes on anyone while the economy remains fragile. They have correctly argued that major tax hikes on capital investment and small-business income would depress the business activity and job creation that our economy needs. It’s a significant mistake, therefore, that the Senate Republicans’ tax proposal fails to extend all of the current tax rates. Specifically, their proposal, which establishes their opening position for negotiations, allows one of the most hated taxes of all, the federal death (or “estate”) tax — which, under the phase-out plan put in place by the 2001 tax cuts, finally reached zero this year after 92 years — to return next year. Read the rest on National Review Online. Listen to a related 2-minute KerpenCast here. Phil Kerpen on the Tax Hikes, Tea PartyCBN News | Death Tax | Investment Taxes | Spending | Television |