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NFIB calls for
President to sign death tax
repeal
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Release Date:
08/25/00
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As legislation that
would repeal the death tax was today delivered
from Capitol Hill to the White House by a
Montana rancher on a tractor. The small business
group NFIB once again called on President
Clinton and Vice President Gore to drop their
opposition to ending the unfair tax on small,
family-owned farms and
businesses.
Congress last month
overwhelmingly approved bipartisan legislation
to repeal the death tax and remove a major
obstacle to the American dream for millions of
small family-owned businesses and farms.
President Clinton, with Vice President Gore's
strong support, has threatened to veto the bill
when it reaches his desk. As one of the two
co-founders of the Family Business Estate Tax
Coalition, NFIB has fought on the front lines
for a full repeal of the death tax for
years.
While the President hides behind
class-warfare rhetoric, the fact remains that
millions of small family ranchers, farmers and
business owners are the ones who are most hurt
by this unfair and anti-American tax, said Jim
Hirni, NFIB manager of federal
affairs.
NFIB pointed out that not only
does the death tax affect many small businesses,
it also has a negative impact on the nation's
economy. According to a 1996 Heritage Foundation
study, repeal of the death tax would lead to
larger federal revenues due to increased
economic growth. In addition, the Wall Street
Journal reported in 1999 that 200,000 extra jobs
could be created each year with money that small
family-owned farms and businesses currently
spend on paying or preparing for the death
tax.
The inherently unfair nature of the
death tax and the economic benefits of its
repeal make repeal very popular among most
Americans. In a survey of NFIB members, 89
percent said the death tax should be repealed. A
1999 study by the Americans Against Unfair
Taxation showed that the same percentage of
people think it is unfair for the government to
tax a person's earnings when it is earned, and
then tax it again after the person dies. The
same study showed that 84 percent of people know
the death tax doesn't only affect the rich, and
a poll by the 60-Plus group found that 73
percent of voters said they would be more likely
to vote for a candidate who supports the
death-tax repeal.
8.25.00
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