USA Today Goes off the Deep End on the Estate Tax

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Wednesday, 21 July 2010 09:31

USA Today had a major story warning that middle-class families may be hit by the estate tax. It warns that people with estates of just a million will be subject to the tax if the law is not changed. The article never points out that the tax will only affect the amount of the estate over $1 million, nor does it mention that the exemption is per person, so that a couple can easily pass $2 million on to their heirs and escape all tax liability. In short, this article gave readers absolutely no idea of the issues involved and it is likely to make many people, who will at most be trivially affected by the estate tax, to believe that they face serious liability.

The article also bizarrely asserts that partisanship has prevented a resolution of the issue. This is not true as can be clearly seen from the evidence presented in the article. While most Republicans support lowering or eliminating the estate tax, there are also some Democrats who have held out for lower rates. The article presents no evidence whatsoever that partisanship is preventing a resolution, as opposed to a conflict between people who want to pay lower taxes and others who want them to pay higher taxes.