The Death Tax Must Die

The death tax is something I’ve been fighting for years. It just doesn’t make sense. We work all our lives to scrape by, pay taxes all along the way, and if we’re lucky, pass something along to our children. For the life of me, I can’t figure out why the federal government thinks it’s owed something when we die. Death shouldn’t be a taxable event.

The death tax was enacted in 1916 to help pay for World War I. Like many taxes, it was meant to be temporary. Initially, the top rate was just 10 percent, but like most “temporary” taxes, it never went away. Nowadays, for some folks, the death tax can take away up to 40% of their assets when they die—all to be paid by their surviving kids or grandkids. That could force them to sell off a good chunk of the family farm or small business just to pay the tax man. That’s wrong. 

The death tax is a tax on savings, capital, and entrepreneurship—American values that we should promote, not punish. Those who manage their money responsibly and want to save for the future should do so with the assurance that at the end of their lives, their income and assets will be passed to their families, not the federal government.

Last month, I was proud to help introduce The Death Tax Repeal Act. This legislation ends the “temporary” death tax, once and for all. It stops the cruel double-tax standard, ensuring Americans can pass what they’ve built on to the next generation. 

America was built with a spirit of individualism and entrepreneurship. We value those who save and invest, not just those who consume and spend. The death tax needs to go, and I will continue working to get it repealed.

Sincerely,

Sam Graves