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Tax Day Americans celebrate freedom every July 4th. Today, on Tax Day, we observe the opposite. Though millions of American families will pay a little less in taxes this year � because of President Bush' 2001 tax cut � too many still pay too much. One and two generations ago, it seems, families managed with one pay-check. That gave one spouse the choice to spend more time with the children or older parents. No more. We know the rest of that story: babies in day-care; latch-key school-age children; Mom and Dad both working full-time or more; and never enough family time for errands or rest. This financial merry-go-round is changing the American family in ways we still do not fully understand. On the plus side, our economy has boomed over the last two decades as more women flowed into the workforce. On the downside, family time has all but disappeared. The single largest reason for this is the massive combined federal, state and local tax burden on families. That is why so many Americans supported President Bush's tax cut last year. It is not only about paying less in taxes. The real heart of the matter is about both parents not having to work as hard to meet their tax burden. Every day less spent working for Uncle Sam is a day gained for the family. That means time with the children, grand-children or older parents. For some families it may mean a nine hour work-day instead of a ten-hour work day. As it gets phased in over the next ten years, President Bush's tax cut is going to make things better for families. For example, over 38 million families will receive an average tax cut of $1,460. Like everything in Washington though, there is a catch. The tax relief expires on December 31, 2010. That means that on January 1, 2011, taxes shoot back up to their old, higher levels. If you want to know how crazy this is, look at how it affects the "death tax." In eight years, the death tax goes from 55 percent of every farm or family-owned business worth more than $1 million down to zero. So, if a farmer dies on December 31, 2010, his or her family inherits the business without having to pay any "death tax." But if the owner lives just one more day and dies on January 1, 2011 -- after the Bush tax cut plan expires -- the tax is reinstated and Uncle Sam gets more than half. This foolish tax code provision is just one of the reasons why Congress ought to make the President's tax cut permanent. Doing so will give American families the permanent break they need. Over the next few days, millions of American families will clear away calculators and pay stubs and reclaim their kitchen tables. They should remember that our nation was born inside a tax revolt. We as a people are wisely distrustful of excessive taxation. American soldiers fighting terrorists in Afghanistan and elsewhere have a saying: "Freedom is not free." On Tax Day, many Americans know that all too well. |
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