Estate Tax


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This article by David Cay Johnston for the New York Times should be required reading for people arguing about the estate tax. Here's a key quote:

President Bush, the American Farm Bureau Federation and the National Cattlemen's Beef Association have asserted that the estate tax is destroying family farms.
None, however, have cited a case of a farm lost to estate taxes, although in June 2001 Mr. Bush said he had talked to such farmers.


For too long, the estate tax debate has operated in a universe distinctly unhinged from reality. It's not about "family farms" and proponents of repeal should stop pretending that it is.

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