The Death Tax Not Only Generates Little Revenue — It’s Morally Wrong
The Weekly Standard
In examining the GOP tax plan in this space, we noted that the provision eliminating the estate tax looked a lot like a bargaining chip “to be negotiated away to placate deficit hawks.”
Well that didn’t take long.
“I don’t think we have to totally repeal it,” Senator Mike Rounds (R-SD) said to the Wall Street Journal on October 5, “because I think the folks on the upper end of it are all avoiding it right now legally anyway.” The estate tax is “not a priority for me as we seek to craft this tax bill,” agreed Senator Susan Collins (R-Maine).
We predicted it, but we weren’t hoping for it. The estate tax is popularly and rightly termed the “death tax.” It is an indefensible levy on successful people for the simple reason that they’ve died.