Now that both the House and Senate have passed their Tax plans, it's time to start looking at the details. One key difference is the estate tax -- the Senate plan keeps it, while the House plan eliminates it. Here are two thought analysis on the topic.
Gary Cohn says the estate tax repeal isn’t just about the wealthy. Here’s the truth
Gary Cohn, the head of President Trump's National Economic Council, said Thursday that repealing the estate tax was necessary to protect help farm families and small businesses."Are you seriously saying with a straight face that getting rid of the estate tax is about farmers and not about very wealthy families?" CNBC host John Harwood asked in a November 9 interview."What I'm saying is that it benefits farms, it benefits small businesses, it benefits a lot of different people," Cohn replied. ....more
In the 'death tax' debate, both sides are unconvincing
Minneapolis Star Tribune
By D.J. Tice
The estate tax is an issue on which I’m almost convinced I agree with my progressive friends (who ardently defend the tax) — right up until they start explaining their reasons for thinking it a wise public policy.I then conclude that I must concur with conservatives, who badly want to kill the “death tax.”
This agreement generally evaporates the moment my conservative friends start explaining why they favor estate tax repeal.The seemingly immortal death tax debate is back in the news, of course, as a relatively minor element of the Republicans’ massive tax overhaul legislation, ....more