Economists left, right and center all agree that you don’t raise taxes in a weak economy. Unfortunately, Congress is poised to let taxes go up on every single taxpayer, even though the economy continues to struggle. Take action today and tell Congress that you oppose raising taxes.
With the price of gasoline skyrocketing you’d think that Washington would be doing everything it could to ease the price and the impact on your wallet. Well, you’d be wrong.
Believe it or not, Harry Reid’s tax-and-spend gaggle in the Senate are responding to soaring gas prices by, you guessed it, trying to raise taxes on oil and gas companies. Of course, higher taxes mean higher prices; it’s just common sense.
The bill is S. 2204, offered by Senator Menendez from New Jersey. Not only does it seek to jack up taxes on oil and gas when we can least afford it, but it also handpicks a range of so-called green technologies for special tax breaks. This bill tries to prop them all up: electric cars, cellulosic biofuels, wind, ethanol blender pumps, and on and on.
Take action today and tell your senators not to make gas even more expensive.
The Indiana General Assembly took an important step towards economic freedom by passing Senate Bill 293 on the last day of the legislative session. SB 293 immediately reduces the inheritance (death) tax by raising the amount of earnings that are exempted from $100,000 to $250,000 for immediate family members. It will also eliminate the tax by phasing it out over the next ten years starting in 2013.
News Release: February 22, 2012
Indianapolis, Ind. The Indiana House Committee on Ways and Means voted 21-3 today in favor of State Sen. Brandt Hershmans policy initiative phasing out Indianas inheritance tax.
Hoosier families and farmers are currently burdened by some of the highest inheritance taxes in the country, Hershman said. This unpopular death tax is also a deterrent to keeping retirees and entrepreneurs in Indiana because they pay taxes on their investments while living and want to avoid burdening their loved ones with paying taxes on those investments again upon their death.
Hershman (R-Buck Creek), chair of the Senate Tax Committee, said Indianas inheritance income tax is levied against heirs who receive inheritances, not including spouses and charitable organizations.
Indiana is one of just a handful of states that imposes an inheritance tax. This tax is also known as the Death Tax because it occurs at the point of ones death. Yes, believe it or not, after paying taxes all of ones life, Indianas state government taxes your earnings once again as you leave this world! This is a tax that your loved ones pay with what earnings you have been able to leave them.
Americans for Prosperity Indiana believes this tax is unnecessary and unjust.