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Death Tax

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NEWS
February 17, 2010 | By Antony Davies and Pavel Yakovlev
When the clock ran out on 2009, there was one bit of good economic news: the death of the federal estate tax. We have studied the impact of this tax and can't understand why it exists - other than because some politicians want to prove they're friends of the little guy by punishing the big guy. In fact, the estate tax - also known as the "death tax" - punishes everyone. Our research shows that increases in estate taxes have reduced the number of small businesses in America, causing as many as 6,000 a year to be liquidated or absorbed by larger firms.
NEWS
November 30, 1999 | By Douglas Pike
The tax that Republicans hate the most these days is the "death tax. " That's their brilliant slur for the tax on people's wealth when they die. They present it as a ghoulish indignity - you die one day and the IRS takes a last, large bite. This anti-tax crusade seems to be working. Some opinion polls show that two-thirds of Americans believe the estate tax should be eliminated. Actually, this is a wonderful tax whose timing couldn't be better. What's so painful about paying a tax after you're dead?
NEWS
August 5, 2005 | Ronald P. Sandmeyer Jr
As the Senate considers making permanent a temporary repeal of the estate tax (I prefer to call it the "death tax"), your July 26 editorial "Bad faith, bad idea" resorts to the same old class-warfare arguments on which many opponents have relied for years. Because polls consistently show that a majority of Americans think it's fundamentally unfair to tax the same income twice (once in life and again at death), those who want to divide us are trying to change the subject. They claim budget deficits cry out for higher taxes on the rich.
NEWS
May 7, 2000
Each Sunday from now until the Republican National Convention, the Commentary Page will run the responses of Republicans to the following question: Name one challenge or issue facing the nation that is especially important to you, and talk about what the Republican Party should do to address it. STATE SEN. F. JOSEPH LOEPER SENATE MAJORITY LEADER DELAWARE COUNTY Education poses a continuing challenge for our nation. When Gov. Ridge took office, he promised to take dramatic steps to improve our educational system by investing in new technology, by setting clear academic standards and by providing new resources to our schools.
NEWS
July 20, 2010
YOU REPORTED ( Saturday, July 17 ) that Philadelphia police were to hold a "Turn in Your Gun Campaign" at 58th Street and Chester Avenue. According to the article, individuals who turn in a gun would receive a Sony PlayStation 3 or other gift. Gun-buyback programs have always seemed to be very effective in taking guns off the streets. But it's ironic that the police would actually give out PlayStations when one of the most popular PlayStation games is "Grand Theft Auto," in which the player takes on the role of a criminal who roams freely around a big city, committing robberies, carjackings and murdering police officers.
NEWS
May 19, 2001
World War II memorial in peril Malcontents, opposed to the approved site for the World War II Memorial, have got its construction delayed on a "procedural technicality. " Some of the unfounded objections: The Lincoln Memorial couldn't be seen from the Washington Monument, and vice versa. Wrong. The line of sight would be unobstructed. The Memorial would tarnish the beauty of the park. No, it would be built around an existing reflecting pool, with plenty of greenery; two-thirds of the site is water and landscaping.
NEWS
January 13, 2003 | By WILLIAM SALETAN
THREE YEARS ago, when George W. Bush ran for president, he popularized a new name for the estate tax. An estate was just a cold thing owned by the rich. Bush changed that. "Every family, every farmer and small-business person should be free to pass on their life's work to those they love, so we will abolish the death tax," Bush declared at the GOP convention. Rep. John Kasich, another Republican leader, said no one should have to "visit the undertaker and the IRS on the same day. " The calculation was simple.
NEWS
January 13, 2000 | By Matt Archbold, INQUIRER SUBURBAN STAFF
Republican congressional candidate Melissa Brown accused Democratic U.S. Rep. Joseph M. Hoeffel 3d yesterday of backing off promises to fight to reduce the federal income-tax "marriage penalty" and the gift and estate tax. "This is perhaps one of the most glaring examples of where Joe Hoeffel has let down the voters of Montgomery County," Brown said. "Joe Hoeffel has failed to introduce or support any bill, including several Democratic proposals, that would eliminate these taxes.
NEWS
September 10, 1993 | By Walter F. Roche Jr., INQUIRER STAFF WRITER
In Philadelphia, they get you coming in and - for a while at least - they had plans to get you going out. Funeral directors from across the city were summoned to the city Medical Examiner's Office in West Philadelphia this week to learn the agency's grim proposal for handling its impending $100,000 budget deficit. The proposed solution, according to those who attended the meeting, was a so-called user tax. Under that plan, a fee, possibly in the $150 range, would be assessed before a body could be released from the morgue.
NEWS
January 22, 2001 | By Rep. Pat Toomey
The pundits agree almost unanimously: President Bush must demonstrate his commitment to bipartisanship by jettisoning the across-the-board income-tax rate reductions that form the centerpiece of his tax relief plan. They may grudgingly acknowledge the huge public support for very modest, targeted tax cuts such as eliminating the marriage penalty and the death tax. But lowering every working American's tax bill is a downright conservative idea long disdained by most pundits. How convenient, then, that his willingness to abandon it should become the first measure of Bush's ability to govern.
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ARTICLES BY DATE
NEWS
December 13, 2012
If you have worked hard for five decades, made pots of money, and now want to squander it all in Las Vegas on wine, women, and baccarat, go ahead. If, however, you harbor the antisocial desire - stigmatized as such by America's judgmental tax code - to bequeath your wealth to your children, this would be an excellent month to die. Absent a congressional fix before Jan. 1, the death tax, which is 35 percent on estates above $5 million, reverts to 55...
BUSINESS
November 5, 2012
Benjamin Franklin is credited with saying: "In this world, nothing can be said to be certain except death and taxes. " That might be true, but few people like to pay taxes, so we do everything possible to escape them. Tax reform might be the hottest political issue, and it will heat up even more after Tuesday's election. Most of us cannot afford the best tax lawyers to scour every nook and cranny of the tax code to ensure we pay the least amount possible, so we demand tax breaks through the ballot box. That raises the question: "What taxes should be cut?"
NEWS
October 25, 2012
"I think it can now be said without equivocation - without equivocation - that this man [President Obama] hates this country. " - Rush Limbaugh "I was told by an extremely credible source that [Mitt] Romney has not paid taxes for 10 years. " - Sen. Harry Reid By Steve Young Clearly, Romney is a flip-flopping, tax-dodging, woman-hating, dog-roofing, severely conservative moderate running against a Kenyan, Muslim, America-hating, socialist wealth redistributor. And yet none of these accusatory labels seems likely to keep either one from being elected.
NEWS
April 13, 2012 | By Mike Brownfield
President Obama recently laid out his case for the "Buffett Rule," a plan to raise taxes on successful Americans and small businesses. The core of his argument: The rich aren't paying their fair share. It makes for great populist rhetoric but terrible policy. Worse, it's a distraction from the big issues facing the nation, such as the deficit, the economy, jobs, gas prices, and health care. Will the president's tax hike at least tackle our fiscal problems? No. According to a recent analysis by the congressional Joint Committee on Taxation, the Buffett Rule would raise a mere $47 billion over 10 years, or 0.5 percent of the president's new spending.
NEWS
October 27, 2011 | By Steven Thomma, McClatchy Newspapers
WASHINGTON - The Republican Party is catching flat-tax fever, setting up an election-year fight with Democrats over whether wealthier Americans should pay more taxes or get tax cuts. Republican presidential candidate Mitt Romney became the latest to punch the tax button Wednesday, telling a Virginia audience that he will soon update his economic proposal to spell out how to flatten the tax code. A day earlier, rival Rick Perry proposed an optional flat 20 percent tax on income.
NEWS
January 2, 2011 | By Kevin Ferris, Inquirer Columnist
Get used to hearing the term road map in 2011. Not the Mideast version, with two opposing sides and no room for compromise. This is a Washington road map with ... OK, bad example. The D.C. road map comes courtesy of Rep. Paul Ryan of Wisconsin, one of the GOP's best and brightest in matters of fiscal discipline and pro-growth economic policies. With his comprehensive Road Map for America's Future, Ryan aims to eliminate the short-term deficits and pay off long-term debts, make entitlements and health care both affordable and sustainable, and promote taxes and budgets that encourage economic expansion.
NEWS
December 9, 2010
A bad tax deal in so many ways President Obama sold his birthright for a mess of pottage ("President faces anger from party," Wednesday). Not only would these concessions to GOP fat cats increase our national debt, but they also would further increase the immense chasm between the wealthiest and poorest citizens. Consider: Extending the Bush tax rates for two years is not a fair trade for extending unemployment insurance for millions. A much better "deal" would be to extend upper-level tax rates for one year, during which Congress would make the tax code fairer and plug loopholes that drain needed revenue.
NEWS
September 2, 2010 | By Leonard Boasberg
Talk about timing. Billionaire George Steinbrenner, the late owner of the New York Yankees, couldn't have timed his death more conveniently for his heirs. The inheritance tax this year is zero. When a Republican Congress passed tax-cutting legislation early in President George W. Bush's first term, it left that loophole, abolishing the tax for a single year, 2010. Unfortunately - or fortunately, depending on your point of view - Congress never got around to closing it. So the inheritance tax doesn't resume at the old rate of 55 percent until Jan. 1. That means that George Steinbrenner's heirs will get a nice bonanza of about half a billion dollars on an estimated $1.1 billion inheritance without having to work a day for it. The Republicans still want to get rid of the inheritance tax. They also say that people should take responsibility for themselves - that they ought to work for what they get, and if they don't work, they don't get. Am I missing something, or is there a contradiction here?
NEWS
July 20, 2010
YOU REPORTED ( Saturday, July 17 ) that Philadelphia police were to hold a "Turn in Your Gun Campaign" at 58th Street and Chester Avenue. According to the article, individuals who turn in a gun would receive a Sony PlayStation 3 or other gift. Gun-buyback programs have always seemed to be very effective in taking guns off the streets. But it's ironic that the police would actually give out PlayStations when one of the most popular PlayStation games is "Grand Theft Auto," in which the player takes on the role of a criminal who roams freely around a big city, committing robberies, carjackings and murdering police officers.
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