Heard on the Web: It's Fair, and We Need the Revenue

Heard on the Web: It's Fair, and We Need the Revenue

News story posted in Transfer Taxes on 23 September 2010| comments
audience: National Publication | last updated: 18 May 2011
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Summary

Writing in the Wall Street Journal, Columbia Law School professor and co-author of "Death by a Thousand Cuts: The Fight Over Taxing Inherited Wealth", Michael J. Graetz argues in favor of a federal estate tax on the basis of fairness and filling tax gaps not otherwise paid by the rich.

Full Text:

Is it fair for Paris Hilton to inherit her great-grandfather Conrad's fortune without paying any tax on it? Or Yankee owner George Steinbrenner's 13 grandchildren? This is exactly what happens when there is no estate or inheritance tax on the bequests of the very rich. Indeed, that's what the case for the estate tax boils down to: basic fairness. [more]

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