Small business owners showed their support on Twitter after the House passed a bill to repeal the estate tax last week.
After the House voted to repeal the federal estate tax last week, many small business owners spoke in favor of the action on Twitter. The tax, otherwise known as the “death tax,” currently levies a tax of up to 40 percent on assets when an individual passes away, which puts pressure on family businesses to look for additional funds to satisfy obligations.
Here’s how small business owners reacted on Twitter to the news:
#DeathTax makes it difficult for farmers & small business owners to pass their businesses onto the next generation pic.twitter.com/okwoniiAj3
— Rep. Bill Flores (@RepBillFlores) April 15, 2015
HVAC Industry Supports Bill to Repeal Death Tax: For small business owners, including many in the HVACR indu… http://t.co/uVrbWTvkhH
— C&B Heating&Cooling (@CBHVAC) April 20, 2015
100 years later, the death tax has cost Americans more than $1 trillion. http://t.co/jFYK9FjvvL #deathtax, #estatetax
— USA TODAY Opinion (@USATOpinion) April 16, 2015
Shame that Liberals refuse to admit that estate (death) tax hurts the families of small business owners & family farms – not rich.
— EverymanConservative (@EverymanVoice) April 17, 2015
@AndreaTantaros As a retired financial advisor I’ll tell you that IRS takes enormous amounts from small business thru death tax.#TheFive
— Lori Lee (@simplylorilee) April 17, 2015
Once again Obama is misleading, the death tax kills small family business & family farms! Ya know, building a family tree! #WakeUpAmerica
— Brother Barnaby (@BarNone1890) April 17, 2015
If you think estate tax doesn’t hurt small business, research what it did to Rep. Roger Williams when his dad died. Took 20 yrs to pay taxes
— Marvin Tuomala (@mng2mala) April 17, 2015
farmers, ranchers, small business owners: lots of infrastructure = paper millionaires the estate tax gutted to render their life’s work nil
— Marilyn W Lathrop (@Jaizem) April 17, 2015
Estate tax supporters talk about hitting the ultra rich, but they can mostly escape it while small business and farmers get hosed.
— Richard B (@fodder4skeptics) April 15, 2015
House vote will keep family businesses in the family by repealing the #estatetax: http://t.co/BcD4Or0nCV
— NFIB (@NFIB) April 16, 2015
