Laffer: Repeal the Estate Tax

by James & Miel on April 3, 2009 · 0 comments

Appearing in today’s Wall Street Journal, anti-tax advocate Arthur Laffer has the following to say about the estate tax:

In most cases, people who inherit wealth are lucky by an accident of birth and really don’t “deserve” their inheritance any more than people who don’t inherit wealth. After all, few of us get to choose our parents. It’s also arguable that inherited wealth sometimes induces slothfulness and overindulgence. But the facts that beneficiaries of inheritances are just lucky and that the actual inheritance may make beneficiaries less productive don’t justify having an estate tax

He’s got an interesting point, and this obviously affects all of us who are in line for inheritance.


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