Dying Should Not Be A Taxable Event Statement By 60 Plus Association President Jim Martin

“The death tax was not killed yesterday, it was only wounded. It needs to have a wooden stake driven through its heart so that it will stay buried a fourth and final time.”

Authors Credit 60 Plus Association President Jim Martin With Renaming The Estate Tax The “Death” Tax.

“We at the 60 Plus Association realize how heavy this tax burden is, especially for senior citizens as well as for their children and grandchildren in the working force.”60 Plus is especially working hard to lower the cost of government, notably by driving a stake in the heart of the cruelest, meanest, and most unnecessary of all taxes– the federal estate or ‘death’ tax.”

In a town where con jobs are a daily occurrence, the biggest con job of all is the Democrats’ canard that repeal of the Death Tax is a ‘windfall for the wealthy.’ They say it is a ‘tax cut for the rich’ because it affects less than 2% of those who die. Then why is it that nearly 80% of the public favors repeal? It’s because the public cites the unfairness of a tax imposed solely on after-tax assets.”The biggest fable of all is that only about 3,000 super rich families get this tax break. The truth is that most of these set up trusts and foundations to protect their assets and who can blame them.

This year, a consensus emerged in favor of significant tax reform. Congress passed and the president signed into law a comprehensive tax cut bill that eliminates the estate tax in 2010. The only problem is the bill expires in 2011. Permanent repeal of the estate tax is still needed to produce a fairer and flatter tax system.

The United States House of Representatives passed by a vote of 274-154, H.R. 8, The Death Tax Elimination Act, which repeals over the next decade the death tax (or estate and gift tax).

“Somebody once told me, ‘Jim, we ought to call you Mr. Death,” Mr. Martin tells me proudly. “I’ll have you know, I don’t mind that appellation.” These days, Mr. Death has reason to crow. Mr. Martin credits himself with coining the term “death tax” in 1993 as a usefully derisive nickname for the estate tax.

The 60 Plus Association hails the 274-154 vote by the U.S. House of Representatives to repeal the death tax. Way back in 1993, 60 Plus founded the Coalition to Kill the Death Tax. Our battle cry was kill it, don’t wound it.

Excerpts from 60 Plus Association Supporters who favor repeal of the death tax. “I am glad that an organized group is not only fighting for the reduction, but going for the ABOLITION of the Inheritance tax.” J.K.L. in California