The economy seems, to some, to be teetering on the edge of recession – and the favored solution of the Bush administration is a tax break tonic. One part income tax rollbacks – a nod to the sanctity of marriage — and a key component – the complete elimination of the estate tax.
The President and company call it a “death tax” – claiming it bankrupts family businesses and farms -they say its demise would boost investment in the economy. “A sop for the rich” say critics — So why are an increasing number of America’s wealthiest citizens lining up in support of keeping the tax?
The op-ed petition in yesterday’s New York Times from the group “Responsible Wealth” says “Repealing the estate tax would enrich the heirs of America’s millionaires and billionaires while hurting families who struggle to make ends meet.”
(Hosted by Christopher Lydon)
Guests:
Chuck Collins, Co-founder of Responsible Wealth
and Stephen Moore, President of Club for Growth. Jane Hilbert-Davis, Executive Director of the Cambridge Center for Creative Enterprise.