Independent Grocer Says Time to Kill Off Death Tax
The Food Marketing Institute (FMI) along with other
business organizations are continuing their call for repeal of the estate
tax known in some quarters as the death tax.
Christy Spoa, president of
the Ellwood City Save-a-Lot in Ellwood City, PA, testified about the tax’s
effect on behalf of FMI.
"For individually owned and operated stores like
mine, the estate tax is a constant source of anxiety that has real consequences
for my family, my employees and the day-to-day operations of my business,"
he said. "I do not have the cash or assets on hand to simply write the
government a check and pay the bill, so I have spent years and thousands
of dollars to plan for the worst."
FMI has asked Congress to permanently
repeal the estate tax on small businesses. The tax is set to expire for
a one-year period at the end of this year. It would restart in 2011 without
"The estate tax is a not just a one-time levy. It
is a constant expense hanging over the head of thousands of family-owned
businesses in the United States," he said. "It is money taken away from
job creation, increased wages, better benefits and continued growth."
Questions: Where do you come down on the estate tax? Is it as harmful to
independent retailers as is claimed?
- Small Businesses Urge Repeal of Estate
Tax at Hearing by House Committee on Small Business – Food Marketing