Congressman Rohrabacher Votes to Eliminate the Death Tax
Washington, Apr 13, 2005 - Last week, the House of Representatives passed H.R. 8 - a permanent repeal of the death tax. Congressman Rohrabacher, a co-sponsor of the bill, commended the passage. “The U.S. government has found every conceivable way to tax and over-tax the American people. The death tax, one of the most outrageous examples of over-taxation, is simply a final way for the government to collect hard-earned money that has often already been taxed.” The U.S. Senate has yet to take up the legislation. Facts about the death tax:
- The Heritage Foundation estimates that the Death Tax costs the American economy up to 250,000 jobs annually. (Heritage Foundation – August 23, 2004)
- Permanently repealing the death tax would add more than 100,000 extra jobs a year. (The Economic and Fiscal Effects of Repealing Federal Estate, Gift and Generation Skipping Taxes - Alfredo Gouburu - November 25, 2002)
- Nearly 60% of business owners say they would add jobs over the coming year if death taxes were eliminated completely (Wall Street Journal – July 28, 1999)
- Resources that could be used to expand business and hire new employees are instead used inefficiently to plan for the impact of the Death Tax.