U.S. Sen. Smith on taxes


Below is an article is from a “Tax Update” newsletter from U.S. Senator Gordon Smith dated April 13, 2007:

Smith Wants Bush Tax Cuts Made Permanent

Making President Bush’s tax cuts permanent is a top priority for Senator Smith. On Monday, along with Arizona Republican Senator Jon Kyl, Senator Smith will introduce the Invest in America Act. The legislation will make permanent reductions in the individual tax rates, marriage penalty relief and elimination of the death tax, as well as important economic boosters like the Research and Development Tax Credit.

Tax Hike Looming for Oregon Taxpayers

Senator Smith opposed the Senate Budget resolution this year because it will end President Bushâ?Ts tax cuts. These are the same tax cuts that spurred the American economy and put more money in the pockets of every Oregon taxpayer.

Several tax relief provisions are set to expire at the end of 2010, just four years from now.
Who will this impact in Oregon?

– 1.5 million individual taxpayers
– Over 400,000 married couples
– 213,000 investors
– The parents of 334,000 Oregon children

(Source: U.S. Treasury Department)
Senator Smith is using his position on the Senate Finance Committee to make this tax relief permanent.

Put the Death Tax Six Feet Under

Senator Smith is working to eliminate the death tax. Many Oregonians are planning to pass the earnings from their businesses or retirement plans on to their children. Right now, the death tax is on pace to be completely eliminated by 2010. But if nothing is done it will return at the stroke of midnight on January 1, 2011.

Instead of inheriting a nest egg or continuing a family tradition, families will be left paying a large tax bill. Without the death tax, savings grow and small businesses become job-creating legacies for one generation to pass on to the next.

In too many cases, heirs must liquidate businesses in order to meet the tax bill. A liquidated business is no longer a job creator. Small business owners are far more likely to invest in their companies and create new jobs if they are confident their firm will stay in family hands for years to come. Bringing back the death tax will only punish people who have saved.

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Posted by at 06:11 | Posted in Measure 37 | 5 Comments |Email This Post Email This Post |Print This Post Print This Post
  • CRAWDUDE

    He just got my vote!

  • Sassy

    What I am about to say is by no means intended to offend anyone … the intention is to provoke some more thought.

    I understand that our actions are prompted by what is important to us, individually, even corporately, but I it is difficult for me to comprehend how the issue of taxes (although very important) can make everything OK with regard to voting for our public servants.

    The threat we face together as a nation, and the war we are engaged in as a nation, for me, takes presidence over taxes because what good are lower, or no taxes if I am wiped off the face of the earth.

    My point is, those who voted against the President, the commander and chief of the armed forces, who has sworn to protect the Constitution and the people of the United States, should not be allowed to forget their responsiblity to “WE THE PEOPLE”.

  • Steve Plunk

    Sassy,

    I understand what you are saying about national security and it is a priority. However, we must continue with the day to day affairs of state. Tax policy is just one of those things that must be taken care of. Those issue can be debated seperately from the national security debate.

    While Smith is showing a little Republican in his soul with this statement I still resent his stance on the war. I can’t help but think it is pandering to the lefties of the Willamette Valley.

    • Sassy

      Thank you. That helps me.

  • Dave A.

    This Just In!…Demo Activist Steve Novick plans to run against
    Gordon Smith for U.S. Senate. Talk about delusional. Anyone that
    thinks an unknown with no money can win against Smith really needs
    to smell the coffee.

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