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King: People will die early to avoid estate tax
U.S. Rep. Steve King appeared on MSNBC Monday and insinuated that people will decide to not extend life-supporting medical measures in order to die before the estate tax is reinstated.
“I am very concerned about midnight Dec. 31 with the estate tax. If the taxes aren’t addressed before the end of the year, will the people that are on their death bed, families gathered around the death bed making life and death decisions by looking at tax liabilities, and that is cruel,” King said.
As part of the deals surrounding the Bush tax cuts, there has not been an estate tax in 2010. On Jan. 1, the tax is set to return the Clinton-era level of 55 percent on estates worth more than $1 million if Congress takes no action. Democrats have proposed raising the amount to $3.5 million before the tax kicks in (effectively, $7 million for couples). But many Republicans have insisted that the estate tax should be completely abolished.
Patrick Caldwell covers Iowa for The American Independent.