[GreenKeys] Important: Death Tax Update

Tue Jul 26 15:08:25 EDT 2005

> Important information from Bob Liddy
>
> NOTE: For more info on this confiscatory tax that is ruining Family  
> Farms
>            and Family Businesses go to http://www.deathtax.com   
> Generally, anyone's
>            estate over $650,000 would pay 55% taxes on that  
> excess.  And, that
>            would be on ALL assets - cash, personal property, land,  
> machinery,
>            inventory, receivables, etc.  This has been a disaster  
> for small private
>            businesses and farms. -BL
>
> Subject: Death Tax Update
> Date: Tue, 26 Jul 2005
>
> Death Tax Update
>
>          FMI has moved to delay, until the chance of success is
> greater, the announced July vote to repeal the death tax.  We have  
> done
> this because we are concerned that supporters of full repeal are not
> ready for this vote seriously jeopardizing our chances of success.   
> Let
> me explain.
>
>          Last week we alerted you to an effort by Senator Kyl (R- 
> AZ) to
> force a compromise or a vote on complete repeal of the death tax.  We
> asked you to contact your Senators to urge total repeal and, if  
> that was
> impossible, to insist on negotiating an acceptable compromise that  
> would
> provide the maximum relief possible.
>
>          Since then, we became very concerned that the Senate push for
> full repeal was not being well coordinated with either the White House
> or the business community.  Unless all the supporters of repeal work
> together to find the 60 votes needed to overcome a filibuster, we will
> fail and miss an historic opportunity to eliminate this unfair tax.
>
>          This triggered an effort on our part to make sure that, if
> there is a vote in the Senate, it is at a time when we can guarantee a
> maximum, coordinated effort on behalf of ALL of the supporters of
> complete repeal.  Consequently, both the White House and the Tax  
> Reform
> Coalition, of which FMI is a management committee member, have  
> notified
> Senator Kyl and the Congressional Leadership that they are opposed  
> to a
> showdown vote before they can properly orchestrate outside support.
>
>         FMI believes that the President is fully committed to repeal.
> He is currently focused on a number of important domestic and
> international issues and simply doesn't have the time to actively push
> Senators to vote for repeal.  Hopefully, this will change in t! he  
> near
> future and ALL the supporters of full repeal will be able to move
> forward together.  When that happens, FMI will be fully engaged and  
> will
> ask for all of its members to do everything they can to win this
> historic vote.
>
>          Following is a letter the Tax Coalition sent to Senator  
> Frist:
>
>
> Tax Relief Coalition
>
> 1725 K Street, N.W., Suite 300, Washington, DC  20006
>
> TEL: 202-872-0885  w   FAX: 202-296-5940
>
> July 20, 2005
>
> The Honorable Bill Frist
>
> Senate Majority Leader
>
> S-230 Capitol Building
>
> Washington, DC  20510
>
> Dear Leader:
>
> On behalf of the more-than-1,000 members of the Tax Relief Coalition
> (TRC), representing more than 1.8 million employers, we are writing to
> reiterate the Coalition's continued strong support for full repeal of
> the death tax.  Repeal of the death tax has long been a top  
> priority for
> the small business community, and thousands of small businesses worked
> energetically for enactment of the tax relief act in 2001 because  
> death
> tax repeal was included in that bill.  Few small business owners
> understand arcane Reconciliation rules which prevented permanent  
> repeal;
> many believe they were misled upon learning repeal would last only one
> year and worse, that the tax would recur the following year as if  
> it had
> never been addressed.
>
> TRC members very much appreciate the effort and promise of the Senate
> Republican leadership to bring repeal legislation to the floor.  The
> small business community is again prepared to actively engage in the
> fight for repeal.  While we understand that scheduling floor votes in
> the Senate is an uncertain art at best, we would very greatly  
> appreciate
> knowing as far in advance as possible when floor consideration might
> occur so that we can ensure the maximum level of participation from  
> our
> small business members so that Senators are aware of the i!  
> ntensity on
> this issue from their constituents.
>
> Moreover, we have read reports of negotiations toward reaching a
> compromise on this issue, and would urge you on behalf of the millions
> of small businesses in each state across America to take the fight for
> full repeal to the Senate floor.  We believe that the death tax is
> inherently and conceptually flawed tax policy, and not an issue on  
> which
> compromise should be sought.  At minimum, we believe it would be a
> serious mistake, and exceptionally difficult to again explain to small
> business, if a compromise is advanced without first giving the small
> business community the opportunity to actively put their resources to
> the task of delivering the votes for full repeal.
>
> Again, we appreciate your support for repeal, and look forward to the
> opportunity to work with you toward achieving our shared objective.
>
> TRC Management Committee:
>
> Grover Norquist, President, Americans for Tax Reform
>
> Stephen E. Sandherr, Chief Executive Officer, Associated General
> Contractors
>
> John J. Castellani, President, The Business Roundtable
>
> John Motley, Senior Vice President-Government Affairs, Food Marketing
> Institute
>
> Matt Kibbe, President, FreedomWorks
>
> David French, Senior Vice President, International Foodservice
> Distributors Association
>
> Mike Baroody, Executive Vice President, National Association of
> Manufacturers
>
> Dirk Van Dongen, President, National Association of
> Wholesaler-Distributors
>
> Dan Danner, Senior Vice President-Public Policy, National  
> Federation of
> Independent Business
>
> Rob Green, Acting Sr. Vice President-Government Affairs, National
> Restaurant Association
>
> R. Bruce Josten, Executive Vice President-Government Affairs, U.S.
> Chamber of Commerce
>
> cc:  All Members of the U.S. Senate
>
> For a complete lis! t of the Tax Relief Coalition members, please  
> go to:
>
> http://www.taxreliefcoalition.org/members.html
>
>
>
>  _____
>
>
>
>
>
>
>
> <http://www.getactive.com>;
>
> <http://foodaction.net/nlor/d67s3s4r5bjxen>;
>
>
>
>
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