However, there is going to be a significant surplus over the next few years. Reducing income tax rates would provide the broadest measure of tax relief and ensure that all tax-paying Americans share the benefits of a tax cut. We should encourage the institution of marriage, not tax it. The marriage penalty tax needs to be abolished. The estate tax is one of the most un-American taxes.
Estate taxes have a negative impact on the economy.
Last year we gave income averaging to family farmers on a permanent basis. This year we should allow them to capitalize on it. Such a reduction would encourage more growth, investment and saving.