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Richard Tarrant on Tax Reform

 


Raise the estate tax exemption but don't eliminate it

Tarrant says he'd support efforts to raise the exemption but he opposes a total elimination of the estate tax. Tarrant says, "Five, ten million dollars or maybe it varies depending upon the worth of the business because that gets complex. But thereafter I don't have a problem with the estate tax and personally for what it's worth I don't believe you should leave kids tons of money. I don't think it helps them at all."
Source: Bob Kinzel series of interviews on Vermont Public Radio Jun 12, 2006

Extend capital gains and dividend tax cuts

Tarrant says a new Congressional tax cut plan will bring additional revenue into the federal Treasury. Tarrant supports extending a rate reduction on capital gains and dividend income for another two years. Tarrant says the rate cuts have encouraged individuals to buy and sell stock and the result has been an increase in federal revenue: Tarrant says, "The capital gains tax rate reduction and the dividend tax rate reduction were hugely successful. It's clear that the capital gains and the dividend tax rate cuts worked. It generated a lot more tax revenue, a ton more tax revenue."

Tarrant says Sanders' belief that the plan will add to the national debt is dead wrong: Tarrant says, "Count up the money, you know. Count it up one dollar at a time. It is in the treasury now. There's no room for debate. It worked. The dollars are there. But Mr. Sanders is a broken record on this and he will never admit to having been wrong."

Source: Bob Kinzel series of interviews on Vermont Public Radio Jun 11, 2006

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