The Estate Tax

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The Estate Tax

Have you heard the phrase "No taxation without representation"? It was the common cry of the colonists before the revolutionary war. The colonists did not want to be taxed by England if they were not allowed to vote in the English elections. England’s refusal to allow them to vote was a major reason the colonists decided to create their own government. When this new government was first created it did not tax those people that were not allowed to vote. Then things changed; in 1916 the estate tax was created. (The estate tax is a levy that taxes deceased people’s estates if it is worth more than $675,00.) If one is to remain true to the American ideal of "no taxation without representation," the estate tax should be lifted. Dead people are not allowed to vote and, therefore, should not be taxed. Sadly many people no longer care what principles America was founded on. So I shall expound upon other reasons to repeal the "death" tax. The reasons being: it makes it difficult to pass on family farms, it taxes the dead, it has outlived its original purpose and it creates an obstacle for small businesses.

It is true that tax exemption is allowed for the first $675,000 that is left by the deceased. Therefore, a repeal of the estate tax would be a tax break for those who many consider rich. It is also true that some money escapes taxation due to loopholes in the tax code. Thus making the estate tax a way to make sure that all the wealth involved in the estate is taxed at least once. It is also true that the estate tax brings in revenue for the Federal government.

However, those who say that the repeal of the estate tax is a tax cut for the rich may not have considered that family farmers are considered rich as far ...

... middle of paper ...

...al of the estate tax would be made up in other taxes.

So what is being done about the oppressiveness of the estate tax and the projected benefits of its repeal? Well just this last session a repeal of the estate tax passed both the house and the senate and was subsequently vetoed by President Clinton. (Thomas) The bill then went back to the house for a vote to overrule President Clinton’s veto. The vote to overrule the veto lost by 13 votes. (Tax Bites) This proves that many of your congressmen and women are pulling for you. This also proves that some are not. Victory for family farms small business owners, and philanthropists is close at hand, but it can only happen if you write your congressman urging him to support legislation that will repeal the estate tax, and by making your voice heard by voting for people who already support the repeal of the estate tax.

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