On New Year’s Day, the estate tax, an essential part of the U.S. tax system for almost 100 years, disappeared because Congress failed to act in December.
One hundred years ago on July 17, 1909, Sen. William E. Borah (R-Idaho) wrote, " The income tax is the fairest and most equitable of the taxes. It is the one tax which approaches us in the hour of prosperity and departs in the hour of adversity. Certainly, it will be conceded by all that the great expense of government is in the protection of property and wealth. There is no possible argument founded in law or in morals why these protected interests should not bear their proportionate burden of government."
Solutions by The State News
