The death tax and Barney Frank

posted by
December 28, 2010
by Stephen Cox  
Posted in Commentary

"The estate taxes that Mr. Frank supports require more than just surrendering some money that was bequeathed to you. People don’t ordinarily inherit huge chunks of cash; they inherit other forms of property. To pay the taxes on this wealth, they have to sell the property, often at the sacrifice of much of its value. So Frank wasn’t talking just about money; he was talking about farms and businesses and your grandmother’s china and everything else that may have to be liquidated to produce the cash he thinks the government deserves. But, for the sake of argument, suppose that money is the only thing at issue. Consider the following scenes from human life. Notice how strange they become when you try to apply Frank’s ideas about unearned wealth." (12/29/10)  


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