Freedom Line Blog

This week Congress will vote on whether to increase the Death Tax from 0% to 45%.  That’s quite the tax hike for an economy with 10.2% unemployment.

Under current law, the Death Tax is set to expire in 2010, but under the misleading, “Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009,” Congress could give the gift of a 45% tax hike during this holiday season.

Only in Washington is a 45% tax hike called “Tax Relief.”

You can find the text of the legislation here, but you’ll notice in the bill that the tax threshold is not indexed for inflation.  As a result, in approximately 40 years, half of the U.S. will be hit with the Death Tax.  So much for only soaking the rich.

Call your representative at 202-224-3121 and tell them to vote “No” on H.R. 4154.  Real tax relief means a 0% rate, not 45%.