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Listened to the three hours of Barbara Simpson (The Babe In The Bunker) on our local radio station HOT TALK 560 AM KSFO. The program was about death taxes. People die and they still get taxed. Small businesses usually fail and the second generation don’t get to continue their family business.

There was talk about the IRS scanning the obituaries for dead people. The IRS knows who to target, knock on the doors of the deceased, come in and count everything owned by the deceased – silverware, money in the bank, safe deposit boxes – EVERYTHING!

Her guest mentioned the following website, which I may sign because I believe the government and the IRS are EXTORTIONISTS, taking people’s hard-earned money!

No Death Tax » American Family Business Institute

Here is how the petition looks like:

Petition

We, the undersigned, demand that Congress permanently repeal the Federal Estate Tax (a.k.a. Death Tax).  We hold that:

The Death Tax destroys Family businesses and farms:

• one-third of all small business owners wind up selling some or all of their businesses due to the Death Tax;
• Family businesses are often sold off in part or whole to pay the tax;
• 70% of family businesses do not survive the second generation and 87% do not survive the third generation.

 

The Death Tax hurts American workers:

• 240,000 jobs are lost each year due to the Death Tax;
• The tax wastes $28 billion each year in potential capital – the source of new jobs and economic growth – to pay expensive compliance costs.

 

The Death Tax is unjust:

• It punishes people who savings and investing, but rewards consumption;
• It is double taxation.

 

The Death Tax handicaps America:

• The U.S. has the 2nd highest Death Tax in the world;
• Only 23 out of 195 other countries have a Death Tax;
• Many of our competitors – such as China and Russian – have no Death Tax.

 

The Death Tax is fundamentally un-American:

• Thomas Jefferson repealed America’s first Death Tax in 1802;
• Ulysses Grant repealed America’s second Death Tax in 1870;
• The current Death Tax was levied to pay for World War I.  That war ended 90 years ago, but the tax remains.

The Death Tax has done enough damage.  It is time for Congress to repeal this unjust tax once and for all.
Signed: