Diary

Bringing Back Virginia's Death Tax

It’s on Chap Petersen’s agenda. Odd that he would put it in this context:

The most flagrant example of a Richmond-based tax preference is the 2006 estate tax repeal, which eliminates all state taxes on inherited wealth — thereby reversing a state policy that had existed since 1927, when it was signed into law by Gov. Harry Byrd.

Reviving a Byrd-era tax…and one that reaps benefits from those who have merely made the mistake of being successful (and then dying).

Well, the Senate has revived the pre-payment of sales taxes on transactions that haven’t occurred. So it only follows that they would consider reviving another bad idea.