Should We Abolish the Estate Tax?

Brief Analyses | Taxes

No. 220
Monday, January 27, 1997
by Bruce Bartlett

While the estate and gift tax is insignificant in terms of federal revenue, it is quite significant economically. It wastes resources. It discourages work, saving and investment. And it does virtually nothing to redistribute wealth (as some who favor it would like). In short, the estate and gift tax is a failure. It should be abolished.

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