Obama’s Budget: Hike Death Tax to fuel more wasteful spending

Jim Martin – “The President wants to increase the Death Tax on Seniors to fund a ultra-liberal budget that never balances!”


Alexandria, VA – Today, President Obama released his FY 2014 budget proposal, in which he asked Congress to increase the Death Tax again, after demanding an increase during the Fiscal Cliff.  President Obama called for an increase of the death tax to 45 percent tax on eligible estates. The 60 Plus Association has been leading the charge in pushing for repeal of this onerous tax and strongly opposed this budget proposal.  In the recent Senate budget debate, 80 Senators voted to repeal or reduce the Death Tax, not increase it. Clearly the president is out of step with the majority of Congress and the country.

Jim Martin, Chairman of the 60 Plus Association had this to say about the budget; “This budget confirms the fact that the president is out of touch with the seniors and the American people, especially on the issue of the Death Tax.  Consistently, 60-70 percent of Americans say “kill the Death Tax” but the President wants to do the opposite by hiking the death tax to 45 percent, confiscating nearly half of your lifetime’s work. The President should not increase the Death Tax on the backs of those seniors who have worked their whole lives to pass on a family business or farm to the next generation.”

“Even Senator Harry Reid disagrees with the president on the Death Tax.  Last month Leader Reid voted with 79 of his colleagues to repeal or reduce the Death Tax.  Last year, Congressman Brady’s “Death Tax Repeal Permanency Act” amassed 222 bi-partisan cosponsors in the House. The President has doubled down on his ‘class warfare’ attacks on small businesses by calling for another hike in the Death Tax in his budget. Luckily, Obama’s proposal has no chance of becoming law, especially while 60 Plus is fighting for the full and permanent repeal of the Death Tax.”