The Center on Budget and Policy Priorities released a report, "High Cost of Estate Tax Repeal," by Chye Ching Huang. The report, updated on January 28, 2009, argues that "making permanent the repeal of the estate tax after 2010 ... would add almost $1.3 trillion to the deficit between fiscal years 2012 and 2021." The report also notes that "actuaries estimate estate tax at 2009 levels could cover one quarter of social security shortfall," suggesting that revenue generated from an appropriate estate tax reform could be used to serve social needs.
Posted by Min Young Choi, Associate Editor, Wealth Strategies Journal.
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