Working to Bury the Death Tax
Campaign for Liberty is an active participant in a Family Business Coalition that is seeking full repeal of one of the most pernicious taxes on the American people — the death tax.
Last month, the Death Tax Repeal Act, H.R. 2429, reached a cosponsor milestone by surpassing 218 bipartisan cosponsors.
Whatever your position on taxation, all reasonable people should be able to agree that death should not be a taxable event.
The death tax was first passed nearly 100 years ago as a “temporary tax” to help pay for the cost of U.S. involvement in WWI.
As usual with government, nothing is more permanent than a temporary tax — just ask the folks in Pennsylvania who still pay the 18% Johnstown Flood tax on all sales of wine and liquor, first passed in 1936.
As we get closer to the 100th anniversary of this tax, Congress must examine just how destructive the death tax is, and repeal it outright.
That’s why Campaign for Liberty signed the coalition letter below, along with 37 others groups.
Repealing the death tax should be common sense.
As explained in the letter, it’s a poor revenue raiser, it destroys jobs and wealth, the burden falls disproportionately on minorities and those who don’t realize their estate is valued high enough to be taxed, and it’s simply unfair to take away family businesses or shut down family owned farms as the result of the death of a loved one. Workers lose their jobs, and businesses are shuttered forever because of this particularly pernicious tax.
It’s time to make sure we bury the death tax for good.