Private lands with endangered species habitat are hit hard by the Death Tax.
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Little noticed in the debate over the Estate Tax, better known as the Death Tax because it punishes the heirs of people who have died, is the harm it does to wildlife, especially endangered species.
Recently, the Family Business Coalition sent a letter to Representatives Dave Camp (R-MI), Chairman of the Joint Committee on Taxation, and Kevin Brady (R-TX), Chairman of the Joint Economic Committee, urging them to repeal the Death Tax. The Coalition–which consists largely of trade associations representing smaller businesses, such as the American Dental Association and the Independent Petroleum Association of America, as well as limited government groups like Americans for Prosperity and Americans for Tax Reform–made familiar arguments against the Tax: it unfairly punishes hard work and wealth creation; it’s particularly hard on minorities, since only recently have they started to accumulate substantial amounts of wealth; and it contributes little to federal revenues.