Everything Under the Sun for Tropical Fish
410 E. 11th Ave., corner of 11th & Mill 541.344.FISH
r Premier Travel
Email Passes issued On Silt*!!!
E-mail: fares@luv2tiavel.coin
1011 Harlow
1747-0909
|Student Travel Expefts '' J
Got a story idea?———
—Give us a call. 346.5511
© Stirling Elmendorf Hwtogropky
The Japan Exchange and Teaching Program
• Teach English to Japanese youth in the public schools
• Work in local government offices
• Experience the Japanese culture
• Gain international experience
JET offers: year-long paid positions, roundtrip air
transportation to Japan, health insurance, training
and more!
Application deadline: November 29, 2005
For more information or to apply on-line, visit our
website, www.us.emb-iapan.go.jp and click on
the JET link.
-g g “Warn +
chool rair
Estate tax: Senator Smith
supports repealing decision
Continued from page 1
Abrams said that the current feder
al budget deficit doesn’t create a cli
mate where the government can po
litically or monetarily afford to make
such a decision, especially in light of
Hurricane Katrina relief costs.
“I wouldn’t be suicidal if it did pass,
but I don’t think it will,” he said.
The report estimated total contri
butions to decrease 6 to 12 percent,
or $13 billion to $25 billion, if the tax
is repealed. The government collect
ed $24.1 billion in estate tax revenues
in fiscal year 2004.
According to the report, more than
60 percent of charitable donors in
2000 came from families in the top
20th percentile in adjusted gross in
come. Families from the top 10 per
cent contributed about half of the to
tal $196 billion given in 2000. Those
in the top 5 percent gave about 45
percent of the total.
Only about 2 percent of all estates
are subject to the estate tax, accord
ing to IRS.com
Chris Matthews, spokesman for
Sen. Gordon Smith, R-Ore., said that
Smith is in favor of repealing the estate
tax because it protects hard working
families and small businesses.
“(Senator Gordon) believes that af
ter a lifetime of work and savings the
government shouldn’t come in and
take the estate,” Matthews said,
adding that families usually have to
sell the estate, in most cases farms, to
pay off the estate tax.
“No family farm should be sold
off because somebody died,”
Matthews said. “The government
shouldn’t derive tax revenue from
death because it penalizes savings
and breaks small businesses.”
Matthews also said that it doesn’t
make sense that charitable donations
would be affected. If families don’t
have to pay more taxes, less money
will be going to the government and
more will remain in their pockets,
Matthews said.
“They’ll have more money for
charitable giving,” he said. “It only
reduces giving to the government.”
Adam Hughes is budget policy an
alyst for OMB Watch, a watchdog
coalition that tries to “lift the veil of
secrecy shrouding the White House
Office of Management and Budget.”
He said that this repeal could cause
drastic cuts in contributions to non
profits as well as reduce federal fund
ing to universities in general.
“Giving a tax break to multi-million
aires is not a good decision right now, ”
Hughes said. “This doesn’t affect small
businesses, it protects the rich.”
Hughes said nonprofits will get a
“double-whammy” as charitable
contributions are cut and federal rev
enues decrease. He said government
money in some form constitutes
about one-third of college funding.
“If this tax is repealed, you’re look
ing at drastic cuts,” he said.
The U.S. House of Representatives
has voted to eliminate the sales tax in
four of the last five years, but the Sen
ate still hasn’t voted.
Contact the campus and federal
politics reporter at
nwilbur@dailyemerald. com
$0.5 'M $&$-$! $1 -$3 $3*$5 ‘ ? $5* $50
Mat t»n inti. »( r nmlUm
nfll WOfwl Or rwTHDvS
FAMILIES' AVERAGE CONTRIBUTIONS TO CHARITY
(In thousands)
$40
s' .
Now Hear This 2005-06
^Douglas
Keystone: The Fatty
Arbuckle Project
Tuesday October 25th
Jaqua Concert Hall at The Shedd
Tickets: 434-7000
(ISLKR&Co)