Study: Death Tax Repeal Would Grow Economy; Debunks ‘Myth’ That Repeal is ‘Unaffordable’
WASHINGTON, July 13 -- A new study released today by the American Family Business Institute (AFBI) makes a clear and compelling case that repealing the Death Tax would increase jobs and economic activity in the United States and bolster federal tax revenues over time.
The study directly contradicts claims by Death Tax proponents who have long maintained that eliminating the Death Tax is “unaffordable.”
The research calls into serious question past and current revenue estimates made by the Joint Committee on Taxation (JCT), whose Death Tax repeal cost estimates have been widely trumpeted by Death Tax supporters.
A vote on repealing the Death Tax is expected in the U.S. Senate within weeks.
“The JCT is grossly overestimating the cost of repealing the Death Tax,” said Dick Patten, Executive Director of the American Family Business Institute. “The JCT’s method of scoring tax cuts is inherently inaccurate - its estimates in ’97, ’03 and ’04 completely missed the mark. It has overpriced death tax repeal by $140 billion and proponents of the tax are throwing those numbers around as if they are gold.”
The study quantifies the effects of economic growth on tax revenue, by comparing past JCT revenue estimates with actual amounts collected by the treasury. It also outlines more accurate projections using dynamic models, and measures the revenue effects of Death Tax repeal based on those real-life models.
“JCT’s numbers will not reflect reality until they take into account real-life spending and investment habits of the American people,” Patten continued. “Proponents of the Death Tax must take a hard and honest look at the numbers on which they have based their argument. Those projections simply do not stand up under the light of scrutiny.”
For a copy of the study please call 202-969-2444. For more information on the American Family Business Institute, please visit http://www.nodeathtax.org
- Contact Information
- Josh Kahn
- Media Contact
- American Family Business Institute
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.