March 22, 2001
Why Not an Estate-Tax Credit for Donors?
By DONALD B. SUSSWEINThe estate tax has the noble goal of reducing economic inequality, but it is poorly designed to achieve that purpose. Instead of confiscating roughly half of all large estates, Congress should allow the estates of wealthy people to remit what they otherwise would pay in estate taxes directly to charities.
If all taxpayers took advantage of such a tax-credit plan, $24-billion that now flows annually to the federal government in the form of
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