Thursday, September 01, 2005

Katrina and Estate Tax Repeal

This country's response to Katrina will rely primarily on two sources of funding: govenmental programs and programs run by charitable organizations. It is estimated that full estate tax repeal would reduce federal revenues by $1 Trillion over a 10 year period. It would also dramatically reduce contributions to charities. Perhaps this explains the report today in Kleinrock that:
With lawmakers on August 31 nearly ready to return to work and the debate over repealing the estate tax heating up, conspicuously missing from that conversation is President Bush.

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