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)