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Newsline for March 17, 1999

Death Tax Study Shows Tax Is Expensive To Collect


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(ELLISON) - THE AMERICAN FARM BUREAU FEDERATION PROVIDES FARM AND FOOD RELATED NEWS WRAPS FOR RADIO STATIONS AND NETWORKS.

I'M BOB ELLISON. OUR REPORT RUNS 1:10.

HERE IS A SUGGESTED LEAD: LAWMAKERS AND FARMERS SUPPORT A NEW STUDY SHOWING THAT DEATH, OR ESTATE TAXES COST ALMOST AS MUCH TO COLLECT AS THEY RAISE. BOB ELLISON REPORTS.

ACTUALITIES COME FROM ARIZONA SENATOR JON KYL, MISSOURI SENATOR JOHN ASHCROFT, ILLINOIS REPRESENTATIVE JERRY WELLER AND MICHIGAN FARM BUREAU PRESIDENT JACK LAURIE.

THERE ARE TWO EXTRA ACTUALITIES FOLLOWING THE STORY. IN THE FIRST EXTRA ACTUALITY, SENATOR ASHCROFT SAYS THE ESTATE TAX IS NOT WORTH HAVING SINCE IT COSTS AS MUCH TO COLLECT AS IT BRINGS IN. IN THE SECOND EXTRA ACTUALITY, LAURIE SAYS HEIRS ARE OFTEN FORCED TO SELL PART OF THE FARM TO PAY THE ESTATE TAX.

STAND BY, THE STORY COMES FIRST IN 3...2...1...

(ELLISON) - A STUDY BY THE TEXAS-BASED INNOVATIVE POLICY INSTITUTE SAYS THE DEATH, OR ESTATE, TAX PROVIDES FEW BENEFITS COMPARED TO THE TOLL IT TAKES. AT A CAPITOL HILL NEWS CONFERENCE, ARIZONA REPUBLICAN SENATOR JON KYL SAYS REPEALING THE DEATH TAX WOULD CORRECT THIS INJUSTICE.

(KYL) - THE POLICY IS WRONG, THE ECONOMICS ARE WRONG, THERE IS NO FAIRNESS TO IT, IT NEEDS TO BE REPEALED AND IF WE REPEAL IT, WE'LL MAKE THE ECONOMY BETTER, WE'LL CREATE MORE JOBS AND WE'LL HAVE A MORE JUST SOCIETY.

(ELLISON) - FARMERS WORRY THAT THEIR HEIRS WILL BE FORCED OUT OF FARMING BY HIGH ESTATE TAXES. MICHIGAN FARM BUREAU PRESIDENT JACK LAURIE SAYS SOMETIMES FAMILY MEMBERS ARE FORCED TO SELL PART OR ALL OF THE FARM TO PAY ESTATE TAXES.

(LAURIE) - CONSEQUENTLY THE FARM DIES WITH THE FARMER AND THEN THE HEIRS ARE NO LONGER A PART OF AGRICULTURE AND THE COMMUNITY SUFFERS BECAUSE THAT FARM IS NO LONGER IN BUSINESS.

(ELLISON) - ILLINOIS REPUBLICAN REPRESENTATIVE JERRY WELLER SAYS ELIMINATING THE DEATH TAX WOULD HELP MAINTAIN FARMLAND.

(WELLER) - YOU HEAR THE TERMS ABOUT SMART GROWTH. WELL THE DEATH TAX ACTUALLY ENCOURAGES SUBURBAN AND URBANIZATION AND DEVELOPMENT OF PRIME FARMLAND.

(ELLISON) - BILLS TO ELIMINATE THE DEATH TAX HAVE BEEN INTRODUCED IN THE HOUSE AND SENATE.

BOB ELLISON, WASHINGTON.

STAND BY FOR THE FIRST EXTRA ACTUALITY. THE CUT RUNS 15 SECONDS IN 3...2...1...

(ASHCROFT) - IT'S WITH THAT IN MIND THAT I THINK WE SHOULD SAY THAT IT'S TIME TO RELIEVE AMERICANS OF THE ONEROUS PROSPECT OF HAVING TO VISIT THE UNDERTAKER AND THE I-R-S ON THE SAME DAY. IT'S TIME FOR US TO ABOLISH THE ESTATE TAX.

(ELLISON) - STAND BY FOR THE SECOND EXTRA ACTUALITY. THE CUT RUNS 18 SECONDS IN 3...2...1...

(LAURIE) - WHEN WE DO THAT, WE FIND THEN THAT THE SIZE, THE SCALE OF THE OPERATION, THE SCALE OF THAT BUSINESS, IS DECREASED TO A POINT WHERE IT'S NO LONGER EFFICIENT. AND SO THEN THE REMAINING HEIRS OF THAT FARM ARE FORCED TO SELL THE REST OF THE FARM BECAUSE IT'S NOT COMPETITIVE ANY LONGER.

(ELLISON) - THE FARM BUREAU RADIO NEWSLINE IS UPDATED EVERY MONDAY, WEDNESDAY AND FRIDAY AT 5 P.M. EASTERN TIME. THANK YOU FOR LISTENING.


This page was last modified Thu Mar 18, 1999 at 12:00 am

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