60 Plus Association press release, April 10, 1998

Tax Fairness for Seniors • Repeal Unfair Inheritance Taxes! • Guardian of Seniors’ Rights Award 60 Plus Association NEWS RELEASE 1655 N. FT. MYER DR., #355, ARLINGTON, VA 22209 (703)807-2070/(703)807-2073 FAX FOR IMMEDIATE RELEASE: AprillO, 1998 Contact: Michael Thieleri Ehrlich Wins Benjamin Franklin Award Recognized for Efforts to Repeal the “Death Tax” Washington, D.C. — Representative Robert L. Ehrlich has been presented the Benjamin Franklin Award for his sponsorship of legislation to repeal the federal inheritance tax, the so-called “death tax.” It was Benjamin Franklin who said: “In this world nothing can be said to be certain, except death and taxes." Because of the death tax there is a third certainty: taxes AFTER death. The Benjamin Franklin Award recognizes the efforts of Rep. Ehrlich to end the third “certainty.” A recent poll commissioned by the 60 Plus Association by Kellyanne Fitzpatrick of the polling company revealed that 77% of the public feels that the death tax is unfair and is more likely to vote for a member of Congress who is in favor of total repeal. 60 Plus Chairman Jim Martin said, “if 77% of the public favors repeal, then I suggest that 97% of seniors favor repeal, not because they are wealthy, but because they are morally outraged by a tax which is applied to after-tax assets. The only thing that triggers this macabre tax is dying, which we don't believe should be a taxable event. “Support for repeal also cuts across political and philosophical lines. It's a revenue loser according to a recent study by the conservative Heritage Foundation’s economist Bill Beach who points out that the same money re-invested in business expansion would create hundreds of thousands of new jobs, producing far more tax revenues. While USC law professor Edward McCaffery testified before Congress that as ‘an unrequited liberal’ he felt that redistributing wealth as the law intended, was counter productive and that ‘ample economic evidence’ now exists to show that the tax is a hindrance to job expansion which would help working men and women. It hurts most those least able to pay. Minority-owned businesses cite the tax as a major obstacle to creating more jobs. Small ‘mom and pop’ businesses, farmers and the like, are hard pressed to find the ready cash to pay Uncle Sam 55% of their assets as the death tax requires. McCaffery concludes that serious thought should now be given to total repeal,” Martin emphasized. “It is through the efforts of Rep. Ehrlich that the death tax will be repealed. The overwhelming r majority of the public agrees with Rep. Ehrlich and it is through his leadership that repeal of the death tax will be possible,” Martin concluded. -30- 60 Plus is a five-year-old non-profit, nonpartisan group with a less government, less taxes approach to seniors ' issues. 60 Plus is supported by voluntary donations from its 475,000 citizen lobbyists to print and mail millions of letters, petitions and voting indexes. 60 Plus publishes a newsletter, SENIOR VOICE, and a SCORECARD, bestowing a GUARDIAN OF SENIORS' RIGHTS award on lawmakers in both parties who vote "pro-senior. ” 60 Plus has been called “an increasingly influential lobbying group for the elderly.. .often viewed as the conservative alternative to the American Association of Retired Persons (AARP). ”