"It's time for Congress to empower small business"
Republican U.S. Senate candidate Ken Buck joined the American Family Business Institute and owner of Centennial Containers, Jim and Cathy Noon, to call for a permanent repeal of the Death Tax.
In 2009, Congress voted to repeal the Death tax until January 1, 2011. Buck called for a permanent repeal--
"If we want to create jobs during this recession, the last thing we can do is raise taxes. I want to get Americans back to work, and that is why I will fight to repeal the Death Tax."
Unless the Death Tax is repealed permanently, family business and farms, the driving block of our nation's economy, will be forced to pay a 55 percent tax on estates exceeding $1 million.
Jim Noon pointed out that his family has already been taxed on their business , and that it's not fair for the government to make their children pay taxes on it again after they pass away. Jim added that he and his wife bought life insurance to cover the taxes, so their children won't have to sell the family business.
"If the Death Tax is brought back, it's going to be families like the Noon family and their employees who will suffer most," added Buck. "It's time for Congress to empower small businesses instead of expanding big government."