Monday, May 15, 2006

Repeal the Estate Tax? Over on Juan's blog, which, by the way, has been enormously successful, he has this post on the matter of repealing the estate tax.

In that post, Juan links to the website of an organization called "Responsible Wealth". As to the estate tax, the article to which Juan links quotes a former IRS chief bureaucrat as follows:

The estate tax has been with us for 90 years, brings in fairly large amounts of revenue at fairly low cost, and affects less than one-third of one percent of the population," said Sheldon Cohen, tax attorney and former Commissioner of the IRS. "Why would we change this?"

I am particularly disturbed by the third rationale. "[The estate tax] affects less than one-third of one percent of the population". I'm thinking about taxing blue-eyed Presbyterians, evangelicals but in the PCUSA, males between the ages of 59 and 61. They don't make up a very large part of the population either. Let's get 'em!

Here's a rationale for getting rid of the estate tax: The money collected on the tax goes to the federal government and bureaucrats like Sheldon Cohen.

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