Ron Paul: Time to Kill the Death Tax
While many members of Congress have wavered on the issue, Ron Paul has always stood firm in advocating the permanent repeal of the unpopular death tax on estates and multi-generational gifts.
In support of repealing the death tax, Dr. Paul stated:
"It is troubling to me that this country is chasing away wealth, while entitlements recklessly grow. The power to tax is the power to destroy, and we are making strides towards destroying prosperity but expanding the welfare state. This is a dangerous and untenable trend."
Ron Paul voted "yes" on H.R. 8, a bill that would stop the federal government from collecting $185.5 billion in death taxes over 10 years and would fully repeal the so-called "estate tax" by 2011.
Congressman Paul has also introduced the Liberty Amendment, H.J. Res. 23, in Congress. This constitutional amendment would repeal the 16th Amendment, and permanently end all personal income, estate, and gift taxes.
Dr. Paul's insistence on ending the death tax would benefit states with large agricultural sectors such as Iowa. In many cases, family farms are reluctantly sold after an owner's death, because family heirs were unable to pay large estate taxes. The burden has led to the destruction of family farms and business across the United States.
"The death tax is an unfair and unconstitutional form of double taxation," stated Ron Paul 2008 campaign chairman Kent Snyder. "The incomes of Americans are already unfairly taxed throughout their working lives. Dr. Paul has an unmatched record of opposing taxes on hard-working Americans, and ending the death tax is no exception."