Tuesday, December 15, 2009

The American Family Business Foundation advocates the elimination of estate taxes.

The American Family Business Foundation maintains the Estate Tax Truth website to advocate the elimination of the estate tax, which the site explains as "a tax of 45% applied to all assets in excess of $3.5 million."

But as reported in Internal Revenue Service publication 950, "The estate tax has been repealed for 2010."

Many of the arguments against the the estate tax apply to many forms of taxation. This group would have a more compelling case if they proposed a solution to government funding difficulties, rather than worsening the problem.

Remember that government revenues lost from reduced taxes on the wealthy need to be offset by increased taxes on the rest of us or on future generations.

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