As you may know, in July 2010, I proudly signed a formal pledge offered by the American Family Business Institute to work toward a permanent repeal of the death tax. Make no mistake, we are taxed enough already during our lifetimes - income taxes, sales taxes, property taxes, and others.
The death tax disproportionately harms small businesses and farms across the country. The death tax is not just a tax on savings, but also on any business and property an individual chooses to pass along to their family. Damage from the death tax leads businesses and family farms to be sold and destroys the jobs they create. In addition, each year millions of dollars in entrepreneurial capital is sent to the government instead of being invested back into the economy.
Therefore, I am opposed to the death tax and will work toward its permanent repeal.