A Quote by Cindy Hyde-Smith
It is simply unfair for the Internal Revenue Service to lay claim to the bulk of a small business or farm when a death occurs. Federal tax policy should instead be geared toward helping the next generation keep these family-owned operations alive.
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The death tax causes one-third of all family-owned small businesses to liquidate after the death of the owner. It is also an unfair tax because the assets have already been taxed once at their income level.
The death tax destroys family businesses and stifles investment that leads to increases in jobs and personal income. As a result, 70 percent of family-owned businesses are not passed on to the next generation and 87 percent do not make it to the third generation.
I'm still one who says that we can get rid of the Internal Revenue Service if we would pass the fair tax, which is a tax on consumption rather than a tax on people's income, and move power back where the founders believed it should have been all along.
The day after Republicans won solid majorities in the House and Senate, House Speaker John Boehner and Senate Majority Leader-to-be Mitch McConnell outlined priorities for the newly elected Congress. High on the list is fundamental tax reform. In addition to overhauling the federal tax code, however, Congress should rein in the Internal Revenue Service.
You know, gentlemen, that I do not owe any personal income tax. But nevertheless, I send a small check, now and then, to the Internal Revenue Service out of the kindness of my heart.
As you begin to feel this enormous shift of consciousness, called multisensory perception, emerging in your awareness, you begin to reorient yourself. It's a reorientation that occurs toward yourself as more than a mind and a body; it's a reorientation that occurs toward others; toward your life as meaningful, rather than predetermined. It's a reorientation that occurs toward the universe as alive, wise and compassionate, instead of inert (which means dead) and random.
When I hear the president of the United States in a great little rhetorical flourish talk about the leavening hand of the government, everybody knows that leavening hand is attached to the long arm of the Internal Revenue Service. And no one mistakes the Internal Revenue Service with something called liberty.
Withdraw from the Canada Pension Plan... Collect our own revenue from personal income tax... Resume provincial responsibility for health-care policy. If Ottawa objects to provincial policy, fight in the courts... [E]ach province should raise its own revenue for health... It is imperative to take the initiative, to build firewalls around Alberta.
U.S. Internal Revenue Service: an agency modeled after the revenue raising concepts of the 19th century economist, Jesse James.
We must move from revenue-neutral to revenue-reducing tax reform, because the federal government spends far too much money.
The only agency of the federal government with a more demoralized workforce than Homeland Security is the Small Business Administration, a notorious turkey farm that should have been abolished years ago.
John Marshall's warning that the power to tax is the power to destroy has taken on far greater meaning... more specifically, the power of the Internal Revenue Service is threatening to destroy the freedom of religion , guaranteed by the First Amendment. As part of that guarantee, Congress has granted tax exemptions for churches to avoid excessive interference in their religious activities.
A moderate tax on robots, even a temporary tax that merely slows the adoption of disruptive technology, seems a natural component of a policy to address rising inequality. Revenue could be targeted toward wage insurance, to help people replaced by new technology make the transition to a different career.
Eliminating the death tax is particularly important for the many small business owners and family farmers that call Central Washington home.
Obama's view of the tax code is inherently political: Whom can we hit next? Energy companies, jet owners, bankers? Instead, the question should be how to promote economic efficiency by raising revenue without trying to manipulate corporate or personal behavior.
The whole tax code should be looked at, all the way from farm subsidies to carried interest to - to corporate loopholes, because we really need to raise more revenue.
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