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Show Oopool OGi'OVG Saying - that - the burden-which burden-which estate taxes place on Americans is atrocious, Rep. Dan Marriott urged his colleagues to repeal the tax altogether. The estate tax was initiated initi-ated in 1916 for two purposes pur-poses to finance World War I and to do something about the concentration of wealth in America. It has failed in limiting the concentration concen-tration of wealth problem and the war is over. The estate tax creates an unfair situation in which small business people and farmers have to load up on life insurance to protect themselves from thejovern-ment. thejovern-ment. Farmers and businessmen are being forced to use capital, capi-tal, which otherwise could be used for capital formation and plant expansion, to purchase pur-chase life insurance. Marriott added that when estate tax was first initiated the maximum tax was 16 percent and today it is 77. |