Death to the death tax; Kaine, Assembly merit praise for agreement

The Winchester Star

Speaking of sound economic policies, Gov. Kaine and the General Assembly should be complimented for agreeing to end the state's estate tax also called, quite correctly, the death tax.

The National Federation of Independent Business, Virginia's leading small-business advocacy group, was particularly elated about the compromise, but all citizens should be, too.

In addition to the basic unsavory nature of the death tax, it is double taxation. Individuals pay taxes to the state on their income throughout their lives. For the state or the federal government to add an additional tax upon death is unfair and unjust.

There is a solid economic argument to be made for the repeal. Spokesmen for the NFIB maintain and will provide the figures to prove it that the estate tax dampens job creation and community investment. No doubt it does. Plus, the death tax inevitably hits the small businessman or small farmer.

As Mr. Kaine noted, "This action (in repealing the estate tax) protects family-owned small businesses and farms, and helps keep the commonwealth competitive with more than two dozen other states that have already taken this action."

He's right.