by Big Dog on Aug 10, 2006 at 20:54 Political
Senator Paul Sarbanes of Maryland is retiring this year and there is a whole peck of folks in contention for his job. I recently wrote to both of my Senators and my Representative to tell them I wanted them to vote to abolish the estate or “death” tax. Sarbanes responded to my missive with the following:
Thank you for getting in touch with me to express your views about the Federal estate and gift tax. I appreciate hearing from constituents on matters of importance to them.
The Federal estate tax is a tax on wealth above a certain amount transferred at death. The tax was enacted in 1916 to raise revenues for World War I and to inhibit the transmission and perpetuation of wealth inequality. As you may know, 98 percent of Americans pay no estate tax; only about 2 percent of deaths result in estate tax liability.
While I have supported significant estate tax relief, I am concerned that long-term changes in the tax code are based on uncertain predictions about the Nation’s economic outlook, and thus put the future economic health of the country at great risk. In my view, any changes in the current tax structure must be undertaken with the greatest caution so as not to cause unanticipated consequences or compromise the Nation’s overall fiscal outlook. For these reasons, I have voted against legislation that would have fully repealed the estate tax and similar proposals that were projected to significantly increase the deficit.
Reform of the estate tax is likely to be the focus of continued debate during the 109th Congress. I look forward to studying carefully any and all proposals to modify the tax code in the hope that we can provide tax relief that is consistent with the other goals of our tax policies. As relevant legislation comes before the Senate for consideration in the future, I will continue to support measures that take a balanced approach to providing tax relief, paying down our national debt, and investing in programs like Social Security and education.
Please do not hesitate to contact me about any other matters of concern to you in the future.
In the future please visit my web site at http://sarbanes.senate.gov rather than clicking reply.
With best regards,
United States Senator
Senator Sarbanes does not have a clue so let me reach into my box of clues and get one out for him. Senator, the money people leave in their estate has been taxed at least once. It is immoral to tax it again especially at the rate the government taxes. Here are the clues for you to address your concerns: privatize Social Security so that people can actually earn money, eliminate the death tax and get this sir, cut excessive or “pork” spending. If you are truly concerned about the budget then do the one thing that YOU have control over and that is spending. The country does not need bridges to nowhere, memorials to Tupac, or 50,000 buildings named after Robert Byrd. There are about 600 items that can be cut which would balance the budget in 5-10 years. This is according to Citizens Against Government Waste.
Senator, the death tax is around 55%. That means if a person leaves 1 million dollars the government gets $550,000 of it. That is obscene and plain wrong. The money was taxed when earned and probably when it earned capital gains and then when the person dies the government taxes it again!
Senator Sarbanes does not understand and he thinks I am an idiot. He failed to mention that a very small percentage of the people in this country pay all the taxes. The rich folks pay most of the taxes and then, when the family is grieving, they get raped again. I am happy that he is retiring because this is the kind of mindless liberal prattle that we have had to put up with for eons in the People’s Republic of Maryland.
I am hopeful that Michael Steele will win the seat and break the liberal stronghold….Follow @onebigdog
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