Keyword: estatetax

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  • Killing the Death Tax

    10/10/2006 6:00:11 PM PDT · by bruinbirdman · 17 replies · 595+ views
    National Center for Policy Analysis ^ | 10/9/06 | Danielle Georgiou
    This summer, the Senate fell short of the super-majority needed to bring to a vote a measure permanently repealing the estate tax. This means the current reduced-rate estate tax will revert to the full pre-2001 rates of up to 55 percent by 2011 unless other action is taken. The Senate's lack of action prompted the House to pass the Estate Tax and Extension of Tax Relief Act (H.R. 5970), which would extend estate tax relief beyond 2010, but would not eliminate the tax. This is unfortunate. The evidence shows that the estate tax does little to redistribute wealth and may...
  • When 88% is not good enough

    09/03/2006 1:11:30 AM PDT · by Northern Alliance · 10 replies · 748+ views
    The American Thinker ^ | September 3rd, 2006 | not stated
    In all the publicity about their attack on Senator Joe Lieberman, it has gone almost unnoticed that the far left has also targeted some members of the Black Caucus for their support of highly selective Bush administration policies. This support often came about only after hard negotiations to win administration support for programs to help people in their districts. Having lived in Chicago for two decades I find it almost unimaginable that former Black Panther Bobby Rush could be challenged from his left, but he was. Cong. Rush’s vote for the energy bill upset the masters of the Internet’s political...
  • I.R.S. to Cut Tax Auditors (government moving to eliminate nearly half of the lawyers)

    07/23/2006 8:35:51 PM PDT · by Libloather · 29 replies · 1,419+ views
    NY Times ^ | 7/23/06 | DAVID CAY JOHNSTON
    I.R.S. to Cut Tax AuditorsBy DAVID CAY JOHNSTON Published: July 23, 2006 The federal government is moving to eliminate the jobs of nearly half of the lawyers at the Internal Revenue Service who audit tax returns of some of the wealthiest Americans, specifically those who are subject to gift and estate taxes when they transfer parts of their fortunes to their children and others. The administration plans to cut the jobs of 157 of the agency’s 345 estate tax lawyers, plus 17 support personnel, in less than 70 days. Kevin Brown, an I.R.S. deputy commissioner, confirmed the cuts after The...
  • Paulson Gives Pause (Treasury Secretary Nominee Against Tax Cuts)

    06/28/2006 10:34:47 PM PDT · by Lancey Howard · 9 replies · 554+ views
    The American Spectator ^ | 6/28/2006 | Washington Prowler
    According to sources familiar with the prep sessions with Paulson, the former Wall Street executive and well-known supporter of and financial contributor to Democrats could not get in line with the Bush administration's support for ending the estate or "death" tax, and permanent extension of the capital gains tax and other tax cuts that are due to expire in the next three years.
  • Buffett the Benefactor ( Avoids Death Taxes )

    06/26/2006 3:53:23 PM PDT · by george76 · 227 replies · 3,245+ views
    The New York Sun ^ | Jun 26, 2006 | Editorial & Opinion
    Mr.Buffett. As an avowed supporter of the estate tax, Mr. Buffett could have let the government take its share of his estate after he dies. But just as Mr. Buffett has accumulated his vast wealth without paying much personal income tax, he has found a way to avoid the tax man in this maneuver as well, even writing in his letter to Bill and Melinda Gates that a condition of the gift is that the foundation “must continue to satisfy legal requirements qualifying my gifts as charitable and not subject to gift or other taxes.” On the estate tax, watch...
  • Senate rejects effort to cut estate tax (RINOs Chafee & Voinovich break with party)

    06/08/2006 11:07:16 AM PDT · by Mr. Mojo · 23 replies · 1,031+ views
    AP (via Yahoo News) ^ | 6/8/06 | MARY DALRYMPLE
    Senators voted Thursday to reject a Republican effort to abolish taxes on inherited estates during an election year with control of Congress at stake. GOP leaders had pushed senators to permanently eliminate the estate tax, which disappears in 2010 under President Bush's first tax cut, but rears up again a year later. A 57-41 vote fell three votes short of advancing the bill. Senate Majority Leader Bill Frist, R-Tenn., said the Senate will vote again this year on a tax that opponents call the "death tax." "Getting rid of the death tax is just too important an issue to give...
  • Reward for the hereditary elite (barf alert)

    06/05/2006 11:13:10 AM PDT · by blitzgig · 220 replies · 2,746+ views
    Washington Post ^ | 6/5/06 | Sebastian Mallaby
    It doesn't matter if you are liberal or conservative, Democrat or Republican. There is no possible excuse for doing what Congress is poised to do this week: Abolish the estate tax. The federal government faces a future of expanding deficits. Thanks to the baby bust and medical inflation, spending is projected to rise by nearly 3 percent of gross domestic product by 2030, a growth equivalent to the doubling of today's Medicare program. What is the dumbest possible response to this? Take a source of revenue and abolish it outright. -snip- People often remark on the perversity of popular support...
  • . . . Or Unfair Burden on Families? (Estate Tax)

    06/05/2006 7:47:37 AM PDT · by kellynla · 37 replies · 791+ views
    The Washington Post ^ | June 5, 2006 | Jeff Sessions
    This week the Senate is expected to vote on permanent repeal of the estate tax. With this vote, Congress will have an opportunity to finish the job it started five years ago. The estate tax -- or, as many of us prefer to call it, the death tax -- is a tax imposed on the transfer of assets or property from a deceased person to his or her heirs. This is one of the IRS's most painful taxes, as it hits families at the worst possible time, when they are dealing with the death of a loved one. Congress passed...
  • Effort to Repeal Estate Tax Said to Be Faltering (RINOs in Action)

    06/04/2006 10:55:45 AM PDT · by nj26 · 30 replies · 835+ views
    Los Angeles Times ^ | 6/4/06 | Janet Hook
    A decade-long drive to permanently repeal the estate tax is about to come to a head, but proponents are finding it surprisingly difficult to get their political football into the end zone. The repeal proposal may be an indirect casualty of Hurricane Katrina, which forced Senate leaders to postpone a vote on the plan in September, when hopes it would pass were high. Now, with the Senate poised to vote as early as this week, even some of the most ardent supporters of estate tax repeal predict they will come up short. Some of them are pushing an alternative that...
  • Death and Taxes: The Economics of the Federal Estate Tax

    06/03/2006 6:19:51 AM PDT · by Conservative Goddess · 64 replies · 909+ views
    The Tax Foundation ^ | May 2006 | Andrew Chamberlain, et al.
    Executive Summary, found here: In April 2005, the U.S. House of Representatives voted to permanently repeal the federal estate tax (H.R. 8). Similar legislation is currently pending before the U.S. Senate (S. 420), and lawmakers are expected to finalize this legislation soon. This Special Report provides a brief history of the federal transfer tax system, and briefly examines the economics of estate taxation. .... This report examines two common arguments in favor of estate taxation. First, estate taxes are commonly assumed to be borne by wealthy taxpayers....Second, the history of the federal estate tax makes clear that the tax...
  • Death Tax Scam: 18 Families Behind Multimillion-Dollar Deceptive Lobbying Campaign

    04/26/2006 10:20:54 AM PDT · by nikola · 170 replies · 4,940+ views
    Public Citizen ^ | April 25, 2006 | Public Citizen and United for a Fair Economy
    WASHINGTON, D.C. – The multimillion-dollar lobbying effort to repeal the federal estate tax has been aggressively led by 18 super-wealthy families, according to a report released today by Public Citizen and United for a Fair Economy at a press conference in Washington, D.C. The report details for the first time the vast money, influence and deceptive marketing techniques behind the rhetoric in the campaign to repeal the tax. It reveals how 18 families worth a total of $185.5 billion have financed and coordinated a 10-year effort to repeal the estate tax, a move that would collectively net them a windfall...
  • BILL GATES SR. and CHUCK COLLINS: Estate tax foes push limits of selfishness [UPCHUCK ALERT]

    09/14/2005 3:22:04 PM PDT · by rhema · 10 replies · 522+ views
    A devastating hurricane hits the Gulf Coast. The war in Iraq claims almost 1,900 American lives with no end in sight in both casualties and cost. And red ink flows through short- and long-term federal deficit projections. Yet in the coming weeks, congressional leaders will move to abolish permanently the estate tax, America's only levy on concentrations of inherited wealth. Only after considerable pressure to respond to Hurricane Katrina and observe Chief Justice William Rehnquist's funeral did Senate Majority Leader Bill Frist back off from his determination to begin the estate tax debate immediately after Labor Day. The unseemly timing...
  • Congress Returns With a Different Agenda

    09/06/2005 8:10:06 AM PDT · by George W. Bush · 2 replies · 141+ views
    Associated Press ^ | 9/6/2005 | LARRY MARGASAK
    WASHINGTON - Congress' agenda for the remainder of the year has changed dramatically in the last few days, as lawmakers vowed to help Gulf Coast hurricane victims and senators faced a confirmation decision for a new chief justice — rather than an associate justice of the Supreme Court. ...In a short time, Bush promised, he also will send the Senate a nominee for an associate justice to replace retiring Justice Sandra Day O'Connor. Parts of the planned schedule will be set aside, said Senate Majority Leader Bill Frist, R-Tenn., including legislation on the estate tax.Congressional leaders were meeting with...
  • WSJ: Fuzzy Tax Math re: Death and Taxes, and Dynamic Scoring

    07/28/2005 5:40:10 AM PDT · by OESY · 36 replies · 743+ views
    Wall Street Journal ^ | July 28, 2005 | Editorial
    ...A recent study by... found that over 20 years the Joint Committee on Taxation] has always underestimated the revenues from tax hikes, while overestimating the revenues that are lost when taxes are cut.... The Joint Tax calculations of the "cost" of death tax repeal have been particularly wild and inexplicable. In 2001, JCT famously estimated that repeal would cost the Treasury $600 billion over 10 years -- twice as much as the death tax actually raises. The Joint Tax whiz kids built into their computer models the behavioral effects of lawyers working the interplay between the death and gift tax...
  • Senate's Lead Tax Writer Says Estate Tax Repeal Vote Could Doom Compromise

    07/25/2005 5:16:33 PM PDT · by TheOtherOne · 14 replies · 546+ views
    AP ^ | AP-ES-07-25-05 1937EDT
    Senate's Lead Tax Writer Says Estate Tax Repeal Vote Could Doom CompromiseBy Mary Dalrymple The Associated Press Published: Jul 25, 2005 WASHINGTON (AP) - The Senate's top tax writer said Monday that a vote on permanently repealing the estate tax could doom senators' efforts to strike an agreement limiting the tax to the wealthiest estates. Sen. Charles Grassley, the Iowa Republican who leads the Senate Finance Committee, said he was "a little anxious" to learn the Senate's GOP leader intended to push forward this week with a bill permanently repealing the estate tax. "I think if we push to have...
  • Watch Your Purse or Wallet ...AFTER the Funeral

    06/14/2005 6:20:18 PM PDT · by Seadog Bytes · 48 replies · 1,469+ views
    Strange Cosmos ^ | June 6, 2005 | SeadogBytes
  • Should the Estate Tax Go? (Nobel Prize Winner Gary Becker)

    05/22/2005 11:20:04 AM PDT · by FreedomSurge · 37 replies · 550+ views
    The Becker-Posner Blog ^ | May 15, 2005 | Gary Becker
    The tax cut law of 2001 included a slow phase out of the estate tax by 2010, but the tax is supposed to be reinstated in 2011 when the entire 2001 law expires. This strange political compromise on estate taxes presumably will not last, so it is a good time to consider what should be done about this tax. I believe taxes on estates should be permanently abolished since they do little to reduce income or wealth inequality, benefit a vast army of lawyers and accountants whose role is to find ways to cut taxes on the estates of the...
  • Editorial: Taxing Estates/It's Good For The Country

    05/03/2005 7:23:53 AM PDT · by daler · 21 replies · 768+ views
    Minneapolis Star and Sickle ^ | May 3, 2005 | I.M. Anidiot
    In the argument over repeal of the national estate tax, which has passed the House and will be before the Senate soon, supporters of repeal frequently assert that the assets of an estate have "already been taxed" and that the estate tax amounts to double taxation. That's not quite right; 36 percent of the value of estates worth more than $1 million comes from untaxed capital gains. For estates over $10 million, 57 percent of their value on average comes from untaxed capital gains. When all the generous exemptions, deductions and special allowances are factored in, there's very little double...
  • Charities Are Silent on Loss of Estate Tax

    04/23/2005 4:28:30 PM PDT · by n-tres-ted · 52 replies · 1,267+ views
    New York Times ^ | April 23, 2005 | Stephanie Strom
    "It's not difficult to see why organizations are keeping quiet about this potential estate tax cut," said James S. Tisch, president and chief executive of the Loews Corporation and a major donor to Jewish and other causes. "It's because they don't want to make their donors irate. You only have to make one or two irate to have a real problem."
  • Estate Tax (Prominent Dem Blogger says "f@#* the small businessman")

    04/15/2005 7:53:56 AM PDT · by Brian Mosely · 2 replies · 227+ views
    Matthew Yglesias ^ | 4/14/05 | Matthew Yglesias
    I'll trust that anyone reading this blog is well-read enough not to need a primer in why repealing the Estate Tax in the face of massive deficits is not the height of sound policymaking. For your delight and amusement I will, instead, offer some thoughts out of season. Taxing estates doesn't really seem like a great plan. If I die with a $10 million estate and want to give $5 to 2 million different people, there doesn't seem to me to be a good reason why the estate should be taxed. Better to tax inheritance since the actual concern is...
  • Taxing Times (Cavuto on the death tax)

    04/14/2005 2:21:31 PM PDT · by Ooh-Ah · 6 replies · 800+ views
    Fox News ^ | April 14, 2005 | By Neil Cavuto
    ..."Take two people with the same education and salary. "Person A lives off of 60 percent of his take home pay all his life. Buys a small house and takes the money he does not live on and invests it. He does not take his family on fancy trips. "Person B lives off of 100 percent of his take home pay, maxes out his credit cards, buys a big house. Lavishes his family with junk and saves nothing for the future. "Both men die. "Person A has accumulated considerable wealth because of his saving and planning for the future. But...
  • House Votes to End Federal Estate Taxes

    04/13/2005 3:02:36 PM PDT · by RWR8189 · 48 replies · 1,292+ views
    Associated Press ^ | April 13, 2005 | MARY DALRYMPLE
    WASHINGTON - The House voted Wednesday to eliminate federal estate taxes in 2010 and beyond, a repeal that Republicans hailed but Democrats said would reward the richest families at the steep cost of deeper federal deficits. AP Photo   House lawmakers voted 272-162 to prevent the tax on inherited estates from reappearing after its one-year disappearance in 2010. The bill would end the tax at a cost of roughly $290 billion over the next decade. The House has passed bills repealing the tax several times since enacting the 2001 law that lifted the tax for a year. Those bills have...
  • State Supreme Court throws out estate tax

    02/03/2005 2:09:08 PM PST · by vox_freedom · 25 replies · 928+ views
    Seattle Times ^ | 2/3/2005 | Rachel La Corte
    OLYMPIA — The state Supreme Court threw out a Washington's estate tax today, causing a potential loss of $430 million over the next two years at a time when lawmakers are already facing a $1.8 billion spending gap. The unanimous decision by the nine-member court concluded that "when an estate has no federal estate tax, there is no obligation to pay any state estate tax." It ordered a refund of estate taxes collected from the Department of Revenue since Jan. 1, 2002. The refund could be as high as $150 million, said Mike Gowrylow, a spokesman for the state agency....
  • Opposition to Death Tax Repeal Helped Topple Daschle

    12/03/2004 11:49:39 AM PST · by Tolerance Sucks Rocks · 42 replies · 1,063+ views
    GOPUSA ^ | December 3, 2004 | Jeff Gannon
    WASHINGTON (Talon News) -- The historic defeat of Senate Minority Leader Tom Daschle (D-SD) has led political experts to closely examine the race to determine the reason voters decided to unseat a powerful national figure who represented them for 25 years. In a statewide election decided by less than 4,000 votes, it might be difficult to point to one issue that made the difference, but the Democrat's opposition to permanent repeal of the federal estate tax can't be overlooked as one of them. Opponents of the inheritance tax began referring to it as the "death tax" some years ago, effectively...
  • Candidates move further apart (Keyes vs. Obama)

    09/09/2004 6:46:15 AM PDT · by outlawcam · 28 replies · 940+ views ^ | September 9, 2004 | Chris Anderson
    SHIRLEY -- Illinois farm leaders will have no difficulty remembering where the state's two U.S. Senate candidates stand on agricultural issues. Republican Alan Keyes and Democrat Barack Obama offered divergent views Wednesday on world trade and repealing the federal estate tax. They spoke separately to agricultural leaders during a forum at Funk Farms Trust near Shirley. The forum was sponsored by the Illinois Agricultural Legislative Roundtable, a consortium of commodity groups, state universities and agribusiness associations. Roundtable members set priorities for state and national agricultural legislation, but they do not endorse candidates. "I am not fond of the World Trade...
  • Superrich stand to profit from Kerry

    04/16/2004 11:30:35 PM PDT · by JohnHuang2 · 10 replies · 451+ views ^ | Saturday, April 17, 2004 | John Berlau
    By John Berlau © 2004 Insight/News World Communications Inc. Though President Bush constantly is criticized and attacked by Democratic partisans for pursuing policies that benefit "the wealthy," why are so many of what would be considered America's superrich his political opponents? In addition to the Hollywood mega-elite, which since the death of Sam Goldwyn have opposed the GOP mainly for cultural reasons, billionaire businessmen have stepped forward calling for the defeat of Bush or his policies. Most prominent has been speculator George Soros, who has pledged to raise $75 million to defeat Bush, given millions to Democratic Bush-bashing groups such...
  • Bill Gates' father argues case to keep estate tax

    12/11/2003 8:53:09 AM PST · by danneskjold · 27 replies · 547+ views
    2TheAdvocate ^ | 12/11/2003 | CHAD CALDER
    Bill Gates' father argues case to keep estate tax By CHAD CALDER Advocate business writer The father of the wealthiest man in the country was in Baton Rouge on Wednesday to drum up support for the estate tax, which he said promotes equality and supports democracy by slowing the accumulation of wealth and power in the hands of the few. Bill Gates Sr., father of Microsoft founder Bill Gates, told members of the Louisiana Association of Nonprofit Organizations that supporters of the movement to abolish the estate tax ignore the role of good fortune in wealth creation. Indeed, Chuck Collins,...
  • Exhibit A in the argument for an estate tax on the obscenely rich

    06/27/2003 5:58:56 PM PDT · by prometheusspeaks · 2 replies · 180+ views
    Click on URL for Exhibit A of the argument for an estate tax.
  • House OKs permanent end of estate tax

    06/18/2003 3:02:34 PM PDT · by NormsRevenge · 19 replies · 360+ views
    Mercury News ^ | 6/18/03 | Mary Dalrymple - AP
    <p>WASHINGTON - The House voted Wednesday to permanently end taxes on inherited estates, rejecting a Democratic effort to retain the tax for the country's wealthiest families.</p> <p>"What we're talking about here is fairness to families," said House Speaker Dennis Hastert, R-Ill. "They ought to have the comfort and relief to pass that business on to the next generation, to their children and to their grandchildren."</p>
  • Wellstone campaign lambastes radio ad (boo hoo Alert)

    06/20/2002 8:42:38 PM PDT · by Valin · 14 replies · 185+ views
    Mpls (red)Star Tribune ^ | 6/21/02 | Eric Black
    <p>A radio ad that calls Sen. Paul Wellstone "money-grubbing" because he opposes repeal of the estate tax is being called a vicious lie by the Wellstone campaign.</p> <p>The 60-second spot, sponsored by Americans for Job Security, started airing Monday on WCCO-AM and radio stations in rural Minnesota. Michael Dubke, president of the Virginia-based group, said it would run through the middle of next week.</p>
  • Carnahan's estate tax votes fuel debate with Talent in Senate race

    06/18/2002 6:30:53 AM PDT · by BallandPowder · 193+ views ^ | 06/17/2002 | Jo Mannies (Gephardt sympathiser)
    <p>Two matters that touch everyone - death and taxes - are merging into one potentially powerful issue in this year's Missouri contest for the U.S. Senate.</p> <p>Sen. Jean Carnahan, D-Mo., and her chief Republican rival, former Rep. Jim Talent, are sparring over her recent votes regarding estate taxes. He says she voted against "permanent estate tax relief," which the state Republican Party says proves that Carnahan's a liberal. She says she does support estate tax relief for most Missourians, and accuses Republicans of intentionally misinterpreting her votes.</p>
  • Tax-Cut Cynicism

    06/13/2002 2:45:43 PM PDT · by greydog · 7 replies · 149+ views
    NYTimes ^ | 13 JUN 02 | unk
    At a time of terrorism anxiety and scarce budget resources, Congress is increasingly in the grip of a bad case of warped priorities. Were Americans to be asked if they wanted to cut taxes for the wealthy just now, the answer would be no. Yet that is what President Bush and Republican Congressional leaders are seeking. Yesterday rationality prevailed in the Senate, which killed an attempt to make permanent the repeal of the estate tax enacted last year. But other unnecessary tax cuts will be on the agenda soon, just as Congress is scrimping on funds for homeland security. The...
  • [OutRage]: Democratic Senate Rejects Repeal of Estate Tax

    06/12/2002 7:02:27 PM PDT · by StopDemocratsDotCom · 78 replies · 439+ views
    AP ^ | June 12, 2002 | DAVID ESPO
    WASHINGTON (AP) - Senate Democrats dealt defeat Wednesday to President Bush ( news - web sites)'s call for permanent repeal of the estate tax, and Republicans signaled plans to turn the vote to their advantage in the fall campaign for control of Congress. The vote was 54-44, six short of the 60 required under Senate rules to approve the measure, which Republicans said represented simple fairness and Democrats derided as a giveaway for the superrich. "Strip it all away, this is a tax relief for billionaires when we have a very big deficit and we have other priorities," such as...
  • Senate Rejects Repeal of Estate Tax

    06/12/2002 4:18:51 PM PDT · by GeneD · 161 replies · 1,568+ views
    Filed at 6:26 p.m. ET WASHINGTON (AP) -- Senate Democrats dealt defeat Wednesday to President Bush's call for permanent repeal of the estate tax, and Republicans signaled plans to turn the vote to their advantage in the fall campaign for control of Congress. The vote was 54-44, six short of the 60 required under Senate rules to approve the measure, which Republicans said represented simple fairness and Democrats derided as a giveaway for the super-rich. ``Strip it all away, this is a tax relief for billionaires when we have a very big deficit and we have other priorities,'' such as...
  • House OKs GOP Measure on Estate Tax (bipartisan 256-171 vote)

    06/06/2002 3:08:54 PM PDT · by finnman69 · 6 replies · 222+ views
    AP ^ | 6/6/02 | CURT ANDERSON
    WASHINGTON (AP) - The Republican-controlled House voted Thursday to permanently repeal the estate tax, turning aside a Democratic effort to retain the tax but limit its impact to a few thousand of the very wealthy. The GOP bill, passed on a bipartisan 256-171 vote, would remove the Jan. 1, 2011, expiration or "sunset" date that blocks permanent repeal under current law. The entire 10-year, $1.35 trillion tax cut enacted one year ago this week — including repeal of the estate tax — will disappear in 2011 because of an arcane Senate budget rule. Senate Democrats say they have the votes...
  • House GOP Seeks to Repeal Estate Tax

    06/06/2002 2:00:43 PM PDT · by grimalkin · 13 replies · 220+ views
    AP ^ | June 6, 2002 | CURT ANDERSON
    WASHINGTON, Jun 06, 2002 (AP Online via COMTEX) -- The Republican-controlled House worked Thursday toward passage of a measure ensuring the estate tax is permanently repealed, turning aside a Democratic effort to retain the tax but limit its impact to a few thousand of the very wealthy. The GOP bill would remove the Jan. 1, 2011, expiration or "sunset" date that blocks permanent repeal under current law. The entire 10-year, $1.35 trillion tax cut enacted one year ago this week - including repeal of the estate tax - will disappear in 2011 because of an arcane Senate budget rule. Senate...
  • Kill the Death Tax (FReeper Action Needed!!)

    06/05/2002 6:00:03 AM PDT · by Mudboy Slim · 33 replies · 238+ views
    American Conservative Union ^ | 5 June 2002 | Mudboy Slim
    "Kill the Death Tax! Time is of the Essence! Make the Death Tax Reforms of 2001 Permanent!" ACU Members, Supporters, Friends, and Activists: As part of ACU’s ongoing effort to make all of President Bush’s tax cuts permanent, we’re calling on our ACU Activist to specifically encourage Members of Congress to make the Death Tax Reforms of 2001 PERMANENT. H.R. 2143: The Permanent Death Tax Repeal Act sponsored by Congressman Dave Weldon (R-FL) will be brought to the House floor this Thursday. As part of President Bush’s 2001 tax cut package, the Death Tax will be phased out—over the course...
  • Daschle: No permanent tax cuts

    05/22/2002 12:33:54 PM PDT · by GeneD · 27 replies · 1,264+ views ^ | 5/22/02 | William L. Watts
    WASHINGTON (CBS.MW) -- Citing concerns over Social Security and growing government red ink, Senate Majority Leader Tom Daschle vowed on Wednesday to fend off Republican efforts to make permanent the tax cuts signed into law last year. Senate Republicans are working to attract support from a handful of potentially sympathetic Democrats to back a permanent repeal of the estate tax. "We're going to have that fight and I'm very hopeful that we could win it," Daschle said in a question-and-answer session following a National Press Club luncheon speech. "That is, preventing making permanent those tax cuts. The first installment will...
  • Strickland's Landing closes for business [killed by death tax]

    05/21/2002 2:38:52 PM PDT · by xlib · 23 replies · 4,026+ views
    Gainesville Sun ^ | Tuesday, May 21, 2002 | GARY KIRKLAND
    For all of Elaine Thornton's life, the sight of Kingsley Lake has brought to mind happy thoughts of her family and memories of work and play. "What we see now is a ghost-like silhouette of what's been our way of life, and it's hard," she said. Thornton is the eldest daughter of Frow Woodrow Strickland, who for 56 years owned and operated Strickland's Landing, one of North Florida's favorite swimming holes, perched on Kingsley Lake next to Camp Blanding. Frow Strickland died April 15 at the age of 90, and two days later his five children learned their lives and...
  • Date for Estate Tax Repeal Vote Set

    04/23/2002 1:50:38 PM PDT · by finnman69 · 17 replies · 236+ views
    AP ^ | 4/23/02 | Curt Anderson
    Date for Estate Tax Repeal Vote Set Tue Apr 23,12:10 PM ET By CURT ANDERSON, AP Tax Writer WASHINGTON (AP) - Under pressure from Republicans, Senate Democrats agreed Tuesday to guarantee a vote by June 28 on permanent repeal of inheritance taxes. The move announced by Senate Majority Leader Tom Daschle, D-S.D., could clear the way for passage later this week of major energy legislation that Republicans had used for leverage to force an estate tax repeal vote. "What we have done in this case is agree to a debate on the estate tax issue," Daschle said. The deal also...
  • States Picking Up Where Death Tax Left Off

    04/15/2002 1:49:05 PM PDT · by vannrox · 18 replies · 383+ views
    FOX NEWS ^ | Thursday, April 04, 2002 | Kelley Beaucar Vlahos
    <p>WASHINGTON — The government's so-called "death tax" may be on its way out the door, but don't look for the tax bite to completely disappear. States, wary of losing out on easy money, are stepping into the breach to make sure they don't lose their share.</p>
  • State may end estate tax

    03/08/2002 10:58:53 AM PST · by Tumbleweed_Connection · 2 replies · 251+ views
    SEATTLE POST ^ | 3/7/02 | CHRIS McGANN
    OLYMPIA -- State Senate leaders propose to phase out the estate tax on inherited property -- which brings in more than $100 million a year -- even as they slash services and try to cancel state worker raises to deal with a $1.6 billion budget hole. The Senate budget proposal released this week would cut $8.3 million from next year's estate tax collections. That assumes the state would completely phase out the tax by 2010 -- the same year the federal estate tax is scheduled to disappear. That's not soon enough for those who led the national battle to repeal...