Stop Bonuses For Dead Senators and Repeal the Death Tax!
Author: Alliance for Retirement Prosperity
Published: 2010/10/07
Category Topic: Disability Political Editorials - Publications List
Page Content: Synopsis - Introduction - Main
Synopsis: Alliance for Retirement Prosperity is calling on citizens to sign petition calling for repeal of the Federal Estate Tax commonly known as the Death Tax.
Introduction
Just as Congress was adjourning to campaign for reelection, the U.S. Senate voted to pay Senator Byrd's family a $193,400 Death Bonus.Main Content
"This was a blatant display of Washington cronyism at its worst," said Dr. Lawrence A. Hunter, President of the Alliance for Retirement Prosperity. "I would applaud a charitable act from our elitists in the Senate, but not one Senator took a thin dime out of his/her pocket. They took it out of ours!"
The Alliance for Retirement Prosperity is calling on all outraged citizens to sign a petition to protest this outrage and to call for the repeal of the Federal Estate Tax, commonly known as the Death Tax. The petition is available at wethealliance.com/alliance/petition-letter.
"When the Death Tax hurts small businesses, kills jobs and destroys family farms, it punishes precisely the kind of behavior society should want to reward: hard work, good sense, savings; it rewards behavior that should be discouraged: extravagance, overconsumption and leisure.
"The easiest way to avoid all death taxes is to spend your money before you go. But work hard, reinvest your earnings and leave your life's savings to your loved ones and the IRS becomes one of your heirs. Death should not be a taxable event.
"Americans work tirelessly their entire lives to provide for their families to build up a nest egg for their families for when they pass on. However, when Senators die their family receives a death bonus on top of all the other benefits government employees receive. If the Senate feels so strongly about paying the family a death bonus, then perhaps they should pool their own money and pay it out of their pocket instead of burdening the taxpayer."
Alliance founder Dr. Lawrence A. Hunter was formerly chief economist and political adviser to Jack Kemp at Empower America, staff director of the congressional Joint Economic Committee during Contract with America and a Reagan White House adviser.