As President, Governor Romney Will Fight To Permanently Abolish The Death Tax. As part of his agenda to lower the tax burden on the American people, Governor Romney has proposed permanently eliminating the Death Tax. Governor Romney believes you strengthen the American people by letting them keep more of their own money, and not taxing their families at death.
· Under The Current Law, The Death Tax Is Set To Return In 2011. Under President Bush's tax relief, the Death Tax is gradually phased down through 2009 and completely eliminated in 2010. However, unless Congress takes action, the Death Tax will return in 2011. This uncertainty in the tax law makes it harder for families and small businesses to do estate planning and save and invest their money.
· Governor Romney Believes The Death Tax Is Fundamentally Unfair. Governor Romney believes the Death Tax unfairly impacts families, farmers, ranchers and small businesses. These are the engines of America's economic growth and they should not be burdened by unfair taxes. By eliminating the Death Tax, we will help thousands of Americans take money that would be used to pay an unfair tax and instead use it fuel economic growth.
Governor Romney's Lower Taxes Agenda:
To Ensure America's Continued Economic Growth, Governor Romney Will Fight To Cut Taxes For All Americans. Lower taxes are a key to ensuring continued economic growth and job creation.
· Governor Romney Was The First 2008 Candidate To Sign The "Taxpayer Protection Pledge" Promising To Oppose Any Effort To Increase Taxes.
· Governor Romney Will Make The Bush Tax Cuts Permanent.
· Governor Romney Proposes Lower Tax Rates For All Americans. This approach is fair, simple and extends the pro-growth benefits of tax rate cuts to all Americans.
· Governor Romney Proposes A Savings Incentive Plan. Middle-class Americans will be able to save and earn interest, dividends and capital gains tax free. We need to end tax penalties on savings and investments for middle class families.
· Governor Romney Believes Our Corporate Tax Rate Must Be Competitive With The Rest Of The World. The United States has the second highest corporate tax rate in the Organization for Economic Co-operation and Development. We simply cannot afford for future economic growth to have a tax rate that is out of alignment with the other major economies of the world.
· Governor Romney Has A Record Of Fighting For Lower Taxes. As Governor of Massachusetts, he turned a $250 million retroactive capital gains tax increase into a $250 million refund, made the investment tax credit permanent, passed sales tax holidays, gave property tax breaks to seniors, and in each of his last three years in office, submitted a budget that cut the income tax.