OrlandoSentinel.com: Opinion : Orlando News: "Reform, not repeal
Our position: Estate tax shouldn't be dropped but deserves higher exemptions.
Posted August 6, 2005
After a binge of spending and tax cutting that will add tens of billions of dollars to this nation's mushrooming debt, Congress has taken a break for its annual August recess. Thank goodness.
But when members return to Capitol Hill next month, the Senate is expected to consider a House proposal that would do further damage to America's balance sheet: a permanent repeal of the federal tax on estates. The timing couldn't be much worse.
With Congress unwilling to bring taxes and spending in line, the federal government is stuck in a rut of annual budget deficits. The House estate-tax proposal would add almost $290 billion to those deficits over the next decade, according to Congress' Joint Committee on Taxation.
"
No comments:
Post a Comment