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Death Tax Relief for America's Farmers. All 50 of them. The rest? Bonus!
Quote:
Originally posted by sgtclub
No, because the main rationale for taxing it is essentially that the recipient never "earned it" so he or she should have to pay some more to the piper.
I'd like to see the numbers as to the effects. With all the estate planning devices out there, I doubt this has a very big effect.
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From the column I linked above:
- ...because the wealthy have gotten wealthier over the past three decades or so, the estate tax produces a lot of money. Counting both revenue losses and added interest costs, complete repeal of the estate tax would cost the government close to $1 trillion between 2012 and 2021, according to the Center on Budget and Policy Priorities.
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“It was fortunate that so few men acted according to moral principle, because it was so easy to get principles wrong, and a determined person acting on mistaken principles could really do some damage." - Larissa MacFarquhar
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