Business Owner Petition to Preserve a Responsible Estate Tax

Responsible Weath is organizing a petition of business owners to preserve a responsible estate tax...


BUSINESS OWNERS FOR A RESPONSIBLE ESTATE TAX
Sign-On Statement

We, as owners of America's small and mid-sized businesses, believe the repeal of the federal estate tax would be bad for our businesses, our communities, and our nation.

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Debt Ceiling

It appears that Congress is attempting to sneak in a debt ceiling increase into the defense authorization bill.

Currently, we are expected to hit the legal debt limit sometime before the election. However, in an effort to avoid a potentially embarassing stand-alone vote on the increase, it looks like they will try to slip the debt increase under the cover of another bill.

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Estate Tax - Consequences of Reform Options

The Tax Policy Center has recently created an extremely sophisticated microsimulation model of the estate tax. A recent presentation to American's for a Fair Estate Tax highlights some of the important implications of various reform options.

A longer analysis will be produced by the Tax Policy Center in the Near Future, but the presentation gives some preliminary results.

 

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Appropriations Markups Begin

From CQ...

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National Income share

Recent data show a major shift in the balance between corporate income and labor compensation. As a share of the economy labor compensation has not been this low, and after-tax corporate profits have not been this high in (at least) 25 years.

nat_inc_share.jpg

Source: National Economic Trends (St. Louis Fed)

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Estate Tax - Simulation Model

With the support of the American's for a Fair Estate Tax coalition, The Tax Policy Center has recently developed a new, state of the art, micro-simulation model of the estate tax. This new tool will allow the TPC experts to simulate alternate scenarios for the estate tax, including various reform options such as changes to the exemption level, tax rates, and QFOBI changes.

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Deeper into Debt

The new request for military funding will put us another $25 billion in debt - still no revenue solution in sight.

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Tax cuts don't "pay for themselves"

Recently Rep. Jim Nussle, Chairman of the House Budget Committee, argued against applying PayGo to taxes since "tax cuts pay for themselves."

Perhaps he should have had a chat with the Whitehouse's cheif economist...

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