Resp Wealth Mbr At White Hse to Support Pres' Veto of Estate Tax Repeal

Press Release
For Immediate Release - August 31, 2000
Contact:Betsy Leondar-Wright
(617) 423-2148 x13">

Transcript of Rothenberg Statement

Responsible Wealth Member Speaks At White House to Support President’s Veto of Estate Tax Repeal

Washington, DC -- When President Clinton announced his veto of the estate tax repeal this afternoon, a member of Responsible Wealth spoke in support, and three others who will be affected by the estate tax were also present.

Software entrepreneur Martin Rothenberg of DeWitt, NY, who spoke at the White House, was the founder and CEO of Syracuse Language Systems. Currently he is the founder and President of Glottal Enterprises, a manufacturer of computer-based systems for the remediation of speech communication disorders. With Mr. Rothenberg was his daughter, Sandra Rothenberg, a Rochester Institute of Technology management professor, who manages the family’s foundation with her father and siblings.

The Rothenbergs have explained their opposition to estate tax repeal this way: "Tax policy should stress incentives to work, invest, give and save. In our case, the estate tax has encouraged us to set up a family foundation. Without the estate tax, a child could inherit millions, even billions of dollars–much of it accumulated tax-free in appreciated stocks, bonds and real estate–without paying a penny in taxes. Without revenue from the estate tax, there would be an even greater burden on taxpayers who never inherit a dime."

Also supporting the President’s veto by attending the press conference were Responsible Wealth (RW) co-director Mike Lapham and RW member and Philadelphia restaurant owner Judy Wicks. Lapham, a stockholder in an upstate New York paper mill that has been in his family for five generations, offered a written statement: "Something is wrong when Republican leaders use farmers and small business owners as a smokescreen for a $27 billion tax cut to the wealthiest 2% of Americans. Something is wrong when we can’t fully fund Head Start, but we can give the descendents of the wealthy an added head start. This is really a question of what we want to pass on to the next generation."

Wicks said, "Sure I care about my children's future, but I also care about the well-being of all America's children and the future of our society. Repealing the estate tax would mean less money for programs that reduce child poverty, clean up the environment and improve public education–programs that create a healthier, more secure future for everyone."

Transcript of Rothenberg Statement

Responsible Wealth is a national network of businesspeople, investors and affluent Americans who are working for wider prosperity. Interviews with these and other Responsible Wealth members and staff can be arranged through Betsy Leondar-Wright at United for a Fair Economy, 617-423-2148 x13.