Permanent Repeal of Death Tax Draws Citation

Alexandria, VA – U.S. Senate candidate Ted Cruz has won the Benjamin Franklin Award because “Mr. Cruz has pledged to vote to repeal the terrible ‘death’ tax,” if elected to the Senate.

60 Plus Association Chairman Jim Martin noted, “It was Franklin who famously said there are two certainties in life, death and taxes, but because of the estate or ‘death’ tax, there is a third certainty – taxes after death. 60 Plus decided to give a Benjamin Franklin award to those who support repeal.

“On April 13, 2005, the House of Representatives passed H.R. 8 by a 110 vote margin, 272-162, to repeal the death tax. Over 40 Democrats, including eight members of the Congressional Black Caucus, voted to abolish this anti-business tax. This makes it crystal clear this is not a tax break for the rich. That’s nonsense. The rich set up trust funds and foundations to protect their assets.  It is small businesses in Texas and across America, especially small family run businesses, that suffer the most. In the Senate, repeal fell three votes short, 57 for repeal, 43 against.

“It is with a great deal of pride that 60 Plus honors Ted Cruz with the Benjamin Franklin Award because if Ted has his way, we will get rid of that third certainty—taxes after death—and make Mr. Franklin’s famous quote accurate once again.”

Martin concluded, “Ted Cruz knows a bad tax when he sees one and the death tax is an unfair tax.  I’ve been credited by many, most notably Bill Gates, Sr. in his book, Wealth and Our Commonwealth: Why America Should Tax Accumulated Fortunes, with popularizing ‘death tax’ for the estate tax. Why do I call it that? Because it’s triggered only by death. I’m speaking on behalf of 500,000 60 Plus Association seniors in the Lone Star State who know they can always depend on Ted Cruz to abolish this anti-farmer, anti-senior, anti-small business, job-robbing confiscatory tax.”

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