Kevin Brady: ‘Eliminating that Death Tax Creates 140,000 New Jobs in America’
BRADY: "If I might just answer, the AMT, that double, that second level of taxation hits a lot of middle income families and beyond. Like in the New York City, for example, or in New York, it requires people to do their taxes twice and usually ends up tapping them for another $7,500. Yes, we do away with the AMT. We also clear out the underbrush that punishes people at whatever income level they’re at in the code. In the death tax, by the way, my belief is it isn’t paid by the super wealthy. It’s burdened by our family-owned farms and businesses who worked a lifetime to build up a nest egg. That’s where the damage is done. And by the way, eliminating that death tax creates 140,000 new jobs in America, so if we want to help get people back to work and get the economy going, stop punishing success in a lifetime of hard work. Double, triple taxation for all you do as a local business or farmer is just wrong."