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Reform vs. Repeal
Even though fewer than 1% of Americans pay the estate tax, all Americans benefit from it. Repealing the estate tax will cost our country nearly $1 trillion over the next 20 years. Given the government’s substantial existing deficits, this revenue loss will lead to either more cuts in services that Americans depend on, or some sort of new tax hike. It just makes sense: if you cut a tax in one place, you need to replace it with something else. This means that for every person that saves money by repealing the estate tax, there will be twenty others who pay.
Americans deserve better choices than this. Under the plan to reform the estate tax, billions of dollars in revenue can be saved. This is money that can be spent on the services that the American people have worked hard to secure, such as:
- New public school teachers
- More firefighters and police
- Scholarships for students to attend college
- Healthcare coverage for those who were previously uninsured
Ask yourself which we really need more: a tax cut for the wealthiest Americans, or any of the above. The choice is clear that Americans should reform, and not repeal, the estate tax. |
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