Ross along with a small pro- agriculture group of legislatures wants to eliminate the federal estate tax. In the past year there has been a surge of enthusiasm for the repeal of the federal estate tax as congress tried to figure out what do for 2011 and 2012.
This past December congress approved legislation that provided $5 million per person exemption from the estate tax and set the top tax rate at 35% for 2011 and 2012. Previously the highest exemption was $3.5 million.
Ross says “…it is unfair and punishes those Americans who work hard over their lives.”
The federal estate tax may affect farm families and small business owners and a growing number of people feel like United States Representative Mike Ross that it is just plain unfair to be taxed twice.
Read the entire brief article Ross Wants To Bury ‘Death Tax’ For Good by clicking here
The federal estate tax may be in place for 2011 and 2012 but after that it is up to us to decide its future both the costs and benefits of having the tax or eliminating it.