Make a difference! Click here to tell your Congressman to Repeal the Death Tax!
It was Founding Father Benjamin Franklin who said, “In this world, nothing can be said to be certain, except death and taxes.” One Illinois congressman wants to disconnect the two by eliminating the so-called death tax.
Tax reform is one of the major issues being pushed by the administration of President Donald Trump.
U.S. Rep. John Shimkus, R-Illinois, recently shared what’s been concerning his constituents the most.
“Less government,” Shimkus said. “Individual responsibility, lower taxes, more personal freedoms and liberties.”
While tax reform has been elusive so far in Washington, Shimkus said one issue he hopes to get right is eliminating the federal estate tax, also known as the death tax.
“We don’t want triple taxation,” Shimkus said. “We want a simple code that says, ‘You’ve got income, you’re gonna be taxed on income. You’re not going to be taxed on assets evaluations over families, over generations and force people to sell farms.’”
Tax reform is going to happen, Shimkus said, it’s just a matter of what reforms and when.
“So now it’s a matter of how you get lower rates,” Shimkus said. “To get lower rates you have to reduce what we call the loopholes, or the exemptions and all that stuff, and that’s what the fight is going to be.”
As for the estate tax, Shimkus said it doesn’t just hit family farms with triple taxation.
“It could be the automobile repair shop down the street now,” Shimkus said, “with that much assets and just a building and equipment.”
Shimkus said repealing the estate tax would “be nirvana.”
By Greg Bishop | From Watchdog.org. Originally published at http://watchdog.org/294387/congressman-repealing-death-tax-nirvana/