- Marble Hill fires entire sewer department (8/23/16)4
- Witness says he saw man shoot Domorlo McCaster (8/19/16)2
- Students move into new fraternity housing at Southeast Missouri State University (8/18/16)2
- Southeast imposes 'interim suspension' of Sigma Nu fraternity over vandalism incident (8/19/16)21
- Ex-Southeast student gets probation for placing homemade sex video on porn site without woman's knowledge (8/24/16)9
- The Chrome Queens (8/21/16)2
- Pitmasters to descend on Arena Park for Cape BBQ Fest (8/19/16)2
- Logan's Roadhouse in Cape not closing; Ruby Tuesday fate still unknown (8/17/16)
- Local private school dreams bigger, plans for new building at Sprigg and Lexington (8/22/16)
- Gender-neutral restrooms now available at Southeast (8/18/16)38
Carnahan against permanent fix for death tax
To the editor:
I am responding to U.S. Sen. Jean Carnahan's June 22 letter to the editor. Carnahan claims that her position on the death tax was "grossly mischaracterized" in a recent Southeast Missourian editorial. However, the fact remains that Carnahan opposed the only legislation that would have permanently repealed the death tax.
What Carnahan actually supports is only a slight tweaking of the qualified family-owned business exemption. Established in 1997, the law is supposed to shield assets for farms and closely held businesses from the death tax. However, this provision has been far from successful. Less than 3 percent of family businesses, the very people it intended to help, have qualified for relief under these provisions. Carnahan also supports a $4 million exemption for all family businesses, which sounds good. But long-term inflation and growth will yield, yet again, another useless attempt at reform.
No matter how Carnahan justifies her decision to turn her back on Missouri's small-business owners by voting against permanent death-tax repeal, the reality remains that the only way to permanently fix the death-tax problem is to permanently repeal the tax and replace it with a capital-gains tax.
Missouri State Director
National Federation of Independent Business
Jefferson City, Mo.