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Wednesday, October 26, 2011

Newt: To Create Jobs, Abolish the Death Tax Now

NewtFollowing up on last week's post, Dynamic Scoring, the Estate Tax, and the Supercommittee: Newt Gingrich, To Create Jobs, Abolish the Death Tax Now:

Eliminating the death tax will create more jobs and more revenue for the federal government. That combination should be an obvious choice for the deficit reduction committee. Repealing it is a painless part of the solution. It’s also the right thing to do.

http://taxprof.typepad.com/taxprof_blog/2011/10/newt-to.html

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Comments

I'm all for abolishing the death tax in principle but the idea that doing so would create jobs is just plain silly.

Posted by: John | Oct 27, 2011 9:22:47 AM

Seriously? Oh Newty, Newty...the 1980's called. They don't want you back.

Posted by: AnonInLA | Oct 27, 2011 11:42:44 AM

Repeal of the estate/gift/GST regime would not produce a single job. The wealthy and the large corporations are awash in capital and have been for some time. They are not creating jobs. It goes without saying that anyone who quotes Arthur Laffer as an economic authority is not serious. There is no evidence that any substantial number of family farms or businesses has been been sold because of the estate tax. BTW, see IRC 6166 and 6166A. Go back to Tiffany's Newt.

Posted by: Publius Novus | Oct 27, 2011 12:51:08 PM

Get rid of the stepped up basis along with the estate tax.

Posted by: Jehu | Oct 27, 2011 8:34:34 PM