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The estate tax complicates the tax code, impedes capital formation, and misallocates resources.(The Week ...)(Brief Article)

National Review

| May 09, 2005 | COPYRIGHT 2005 National Review, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

The estate tax complicates the tax code, impedes capital formation, and misallocates resources. It is an inefficient tax, costing the economy an extra dollar for every dollar it raises for the federal government. Bush's tax cuts included a repeal of the estate tax--but only for the year 2010, after which it would go right back up. Now the House has voted for permanent abolition, with 42 Democrats joining all but one Republican. Senate supporters of permanent abolition number nearly a filibuster-proof 60. Sen. Jon Kyl, who has been seeking abolition for years, is exploring whether a compromise can ...

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