NFU to House: Estate Tax Reform, Not Repeal
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WASHINGTON (June 17, 2003) National Farmers Union urged members of the House of Representatives today to vote against estate tax repeal and, instead, support estate tax reform.
H.R. 8, which the House is expected to consider later this week, would repeal the federal estate tax, which NFU President Dave Frederickson says is "neither fair nor fiscally responsible." Rather than repealing the estate tax, NFU is looking to reform and simplify the tax and, at the same time, maintain fiscal responsibility.
"Rather than total repeal, a more appropriate solution for farmers, ranchers and small businesses would be simplification of the tax rules and an immediate increase in the estate tax exemption," Frederickson explained. "Meaningful estate tax reform would ensure that family farms and small businesses can be passed on without incurring any estate tax liability."
With nearly $1 trillion in lost federal revenues over the next 20 years, Frederickson said repeal would result in higher budget deficits and reduced funding for services. "For farmers and ranchers, such a loss in federal revenues will reduce our ability to fund a wide range of commodity, conservation, rural development, research and trade programs important to the farm economy," he said. "These programs are much more critical to retaining a family farm oriented production agriculture system than the limited savings resulting from estate tax repeal that will only accrue to the nations wealthiest individuals."
Frederickson said that repeal proponents are using farmers and ranchers as "public relations icons" in order to gain substantial tax reductions for wealthy individuals.
National Farmers Union spoke out against H.R. 8 in a letter to the full House June 16 and during a Capitol Hill news conference today. |
-------Original Message-------
Date: 08/28/05 20:24:32
Subject: Re: [QUAD-L] Estate Tax
Sorry guy,
A demo ploy that ignores everybody else who will benifit.
It doesn't "JUST" cover the rich.
It will cover everybody, including family owned farms and small home
businesses.
\This bit of propaganda ignores the facts.
Why should you pay taxes AFTER you're dead, on everything you paid
taxes on when you bought them with the money left over after your
paycheck was taxed.The socialist redistribution of wealth is not a good
thing.
Stunt
>
>
> Hey people,
> This Estate Tax is coming up for a vote and we "all" need to write to
our
> Senators and give our opinion.
> Mark
>
> Subject: Tell your friends: Save the Estate Tax
>
> As soon as the Senate returns to Washington in September they will
vote on
> eliminating the Estate Tax for the richest 2 percent of Americans(1).
If
> they succeed, millionaires will save close to $1 trillion dollars in
the
> first ten years--that tax burden will shift to us and future
generations --
> and Republican leaders are just one or two votes away.
>
> Eliminating the Estate Tax will personally benefit President Bush,
Vice
> President Cheney and 11 other cabinet members up to $344 million -
and we'll
> have to pick up that tab!
>
> Will you sign our petition before the Senate vote?
>
> Thanks!
>
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