Sunday, January 26, 2003

Repeal of Estate Tax Morally Bankrupt
"Revenue from the estate tax today generates about $30 billion, or about 1 percent of federal revenue. But that amount will skyrocket in the coming years because of an unprecedented intergenerational transfer of wealth.

"The estimated size of the intergenerational transfer of wealth between 1998 and 2052 ranges from a low estimate of $40.6 trillion, based on a modest 2 percent growth rate, to a high estimate of $136.2 trillion, based on a 4 percent growth rate . . ."

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