Here’s a great editorial from the Seattle Times that ran over the weekend. Our indefatigable Hank Cox was out in that neck of the woods giving a speech, picked up the local paper and “bam!” — there it was.
Of course they’re talking about the Washington state death tax, not the federal death tax, but all the points they make are still relevant to its federal twin. They note that small businesses often have to be sold to pay the tax. Just as bad, some have to take on enormous debt to pay the tax — a very difficult proposition for small manufacturers that are working valiantly to compete every day. The last thing they need is more debt.
So thanks to the Seattle Times for making all the right points. As they say in conclusion, “Death should not be a taxable event.” You know we agree.
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