Proceeds from the Estate Tax should go toward the Federal Debt

I believe that death should not cause a family farm or small business to be broken into pieces. But above a reasonable size, I wonder if part of the estate a wealthy American accumulated during their lifetime was aided by the deficit spending their government practiced over those years? I propose that the government target all proceeds from a modest estate tax to pay down the existing federal debt, instead of counting the estate tax in general revenue for the annual budget.

For most of the past 100 years, Americans have lived well while our government passes a burden of debt to future Americans. Why not help ease that burden for our children when the money will be of no further use to the man or woman who earned it? The estate tax usually accounts for only 1-2% of annual federal tax revenue, so lawmakers could find a way to replace that revenue through cost savings in the operating budget. A reduction of $25 billion each year would be a symbolic payment toward our long-term debt.

Veteran’s Day Reminds us of Leadership and Sacrifice

On the 11th hour of the 11th day of the 11th month of 1918, the slaughter called “The Great War” (World War I) ended.

“I’m really glad that our young people missed the Depression, and missed the great big war. But I do regret that they missed the leaders that I knew. Leaders who told us when things were tough, and that we’d have to sacrifice, and that these difficulties might last for a while. They didn’t tell us things were hard for us because we were different, or isolated, or special interests. They brought us together, and they gave us a sense of national purpose.” – Ann Richards, Governor Texas (1991-1995)

Now is the time to raise gas taxes

Oil is at $62 per barrel, and gas is below $3 per gallon. If we are serious about breaking the national addiction to imported fossil fuels, then we need to keep the consumers’ cost of oil above $100 per barrel, so that efficiency solutions and renewable energy developments can become established in the marketplace. We should offset this tax on productivity with increased personal income tax deductions, reduced corporate tax rates, and possibly annual stimulus payments.

Americans consumes about 360 million gallons of gas each day. Raising the federal gas tax 12 cents immediately and 3 cents each quarter for the next 8 years (for a total of $1.08 by 2016) would keep the price of gas above $3/gallon, give time for consumers and business to adjust to higher gasoline prices, and would raise $15.8 billion per year now and $142 billion per year in 4 years (assuming consumption remains flat).

We could dedicate a portion of this revenue to increasing the federal highway infrastructure fund and return the rest to taxpayers via either a permanent increase of standard deductions by $3000 per person and $1500 per child, and a reduction in business taxes.

We should tax that which is not sustainable (burning fossil fuels) and remove taxes on that which is sustainable (income, children, and employment).

The foundation of my political beliefs

The Right to Personal Liberty

"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness."

- Thomas Jefferson, United States Declaration of Independence

The Purpose of our Government

"We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America."

- Preamble to the United States Constitution