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(From South China Morning Post)
Listening to the heated debate over the abolition of estate duty proposed by Financial Secretary Henry Tang Ying-yen in his budget speech in March, you could be forgiven for thinking there was a "Robin Hood in reverse" plot afoot to rob the poor and hand the money to the rich.
This notion is misguided and fundamentally flawed. It is wrong to suppose that scrapping estate duty - currently payable on the death of people leaving assets of more than $7.5 million - will benefit the rich at the expense of the less well-off by increasing their tax burden.
The Liberal Party believes getting rid of the tax will generate money …