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Permanent Death Tax Repeal
It's the beginning of the end game that will decide the fate of the death tax and you, your family and your key employees need to be involved so that you don't miss the opportunity to help solve this serious issue.
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Subject: Estate Tax Vote Request
Dear [ Decision Maker ] ,
I urge you to support legislation to permanently repeal the death tax. Senator Jon Kyl (AZ) and Senator Bill Nelson (FL) have introduced S. 420, the Death Tax Repeal Permanency Act of 2005, which would put an end to the death tax for good. A vote on the issue in the Senate is expected in September.
As you know, permanent repeal of the death tax enjoys broad bipartisan support because it eliminates one of the most unpopular, destructive taxes collected by the federal government. American voters know the death tax undermines the fundamental principles that our nation supports -- hard work, savings and fairness.
In addition, the temporary nature of the death tax repeal provisions enacted in 2001 creates numerous problems for family businesses. The current tax rate will be lowered to 45% in 2007, only to rise in 2011 to a 60% effective rate for supermarkets with business assets above $10 million. A single supermarket can be worth between $8-12 million. On average, independent supermarket owners spend $500,000 a year on life insurance and the planning costs of advisors and lawyers. The uncertainty surrounding ultimate repeal will require business owners to continue with estate-planning strategies that are costly, cumbersome and time consuming. If Congress were to permanently repeal the death tax, these resources would be reinvested into businesses, creating new job opportunities and providing a much-needed boost to the economy.
Sincerely,
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Campaign Launched: July 13, 2005
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