Death is not a taxable event

"Death should not be a taxable event. There is a strong belief that if you work a lifetime to build up a family business or build up a family farm, that it is wrong for your children when you die to have to sell that business or sell that farm to give government up to 55 cents out of every dollar worth of your life's work even though you paid taxes on every penny of income …

…I don't want to tax it. And neither do the American people." Perhaps the best approach to the latter front is to first target the populations that most need attention. Texas Sen. Phil Gramm suggests offering drug benefits to seniors whose income falls below 200 percent of the poverty line. "They would need to make some kind of co-payment for the drugs they receive, but at least that way the benefit would target more needy retirees.