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Thursday, 31st December 2009

Study: Despite Rhetoric, Lawmakers Backing Higher “Death Tax” also Backed Bigger Deficits

Study: Despite Rhetoric, Lawmakers Backing Higher “Death Tax” also Backed Bigger Deficits
Source: National Taxpayers Union

When the House of Representatives voted last week to create a permanent 45% federal estate tax instead of repealing it next year, supporters of the move said they were helping to reduce the deficit. But a study from the National Taxpayers Union Foundation (NTUF), the research affiliate of the 362,000-member National Taxpayers Union (NTU), suggests they may have had another motive: lawmakers backing a big death tax also had much bigger-than-average federal spending agendas that would leave the government’s balance sheet even deeper in red ink.

In an NTUF Issue Brief released this week, Senior Policy Analyst Demian Brady found that Members who voted in favor a making the death tax a permanent fixture had an average net spending agenda of $630.2 billion. This figure is nearly 8 times the amount of the average net spending agenda for those Members of Congress who voted against the bill. On average, Members who voted against making the death tax permanent had net spending agendas of $81.6 billion.

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