By Ali Meyer
Grover Norquist, president of Americans for Tax Reform, said that repealing the death tax would create jobs, increase economic growth, and bring in federal revenues.
Speaking at the National Press Club in Washington, D.C., on Thursday, Norquist said that ending the death tax, which is a tax on everything you own at the date of your death, would make the United States more economically competitive.
Norquist cited Tax Foundation data saying repeal of the death tax would lead to an increase in the number of full-time jobs, an increase in capital stock, and would help increase economic growth.
“Getting rid of the death tax, abolishing the death tax, would increase the economy by eight-tenths of a point, almost 1 percent increase, 159,000 full-time jobs would be added,” Norquist said. “It would increase federal revenue by $145 billion over 10 years.”
“The fact that it’s 150,000 individuals who don’t have jobs, those are the poor, those are the people who would benefit most from getting rid of the death tax permanently,” he said.
“Also getting rid of the death tax would increase the business capital stock by 2.5 percent or $850 billion total stock,” he explained. “The death tax is a …read more
Source:: Washington Free Beacon