"The death tax should be completely and permanently repealed now in order to make the Tax Code fairer and simpler and to eliminate the harmful drag this tax has on the economy"

Kit Bond's quote addresses the subject of the "death tax", commonly referred to as the estate tax, which is levied on the transfer of the estate of a deceased individual. By suggesting it should be "totally and completely repealed", Bond supporters for its overall removal. His position stems from the belief that the estate tax creates unneeded complexity and unfairness within the tax system.

The argument for fairness is rooted in the concept that individuals, who have actually developed their wealth over their life time, should have the ability to pass on their possessions to their heirs without the burden of additional taxation. Critics of the estate tax frequently argue that it amounts to a type of double tax considering that the wealth being taxed was usually accumulated through income that had already been taxed. Bond's position reflects a view that everyone need to have the right to easily move their earned wealth without governmental intervention upon death.

When Bond points out making the Tax Code "fairer and easier", he's dealing with the perception that the present system is complicated and disproportionately impacts particular people. Streamlining the tax system is a typical style in tax reform discussions, aiming to decrease the legal and financial hurdles associated with compliance. By reversing the estate tax, supporters argue that individuals would deal with fewer bureaucratic barriers and reduced administrative concerns.

Bond likewise points out the "damaging drag this tax has on the economy", highlighting an economic argument versus the estate tax. Critics declare that it can prevent cost savings and investment, decrease capital offered for business growth, and force heirs to sell off parts of family organizations or farms to pay the tax, potentially resulting in unfavorable financial consequences. Those who support repeal typically argue that eliminating the tax could promote economic activity by enabling capital to remain in the economic sector for investment and expansion.

Overall, Bond's statement encapsulates a viewpoint that the death tax makes complex the tax system, infringes on private home rights, and presents economic dangers, promoting for its repeal as a method of achieving greater equity and efficiency in tax policy.