Making the rich richer

Max Sawicky sawicky at epinet.org
Mon Jun 21 11:24:28 PDT 1999


Does anyone remember if this was proposed by the 104th Congress in the
>Contract on America, or is this is a new one?

This is a long-standing Republican obsession. They never call it an estate tax, either - they call it a "death tax." It's also often called a voluntary tax, since most sophisticated rich people can evade it. That porousness is one reason it's very difficult to get good data on the role of inheritance in perpetuating wealth inequality.


>>

It was in the Contract for America but it was not until 1997 that Congress passed a bill that included reductions in the tax. Clinton signed it as part of his balanced budget crusade.

Now of course they are trying to blow another hole in it, if not abolish it altogether.

mbs



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