Congress reportedly will let the estate tax expire at midnight at year's end. Now that tax joke about keeping Granddad on life support to beat the USA out of millions of dollars will come true: http://www.cnbc.com/id/34479120 has "the heads of some wealthy families wondering if relatives gathered for the holidays truly wish them a happy and healthy new year."
New taxes are needed, but the estate tax is one old one that needs to stay. Foes of big Government make some sense, but on the estate tax, my Democrats have us looking like a pitiful, helpless giant.
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This blog opposes the thinking behind the slogan “Read my lips! No new taxes!”
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- Pat Oglesby
- Chapel Hill, North Carolina, United States
- During the 1980s, I served as a Legislation Counsel and then as the Foreign Tax Counsel of the Joint Committee on Taxation of the United States Congress. For nearly two years into early 1990 I had the title of Chief Tax Counsel of the Committee on Finance of the United States Senate. In recent years, I was Adjunct Lecturer at the UNC-Chapel Hill Business School and Adjunct Professor at the UNC-Chapel Hill Law School.
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