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Repealing the estate tax is dumb

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Repealing the estate tax is dumb

But we could do better than the status quo

Matthew Yglesias
Mar 18, 2021
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Share this post

Repealing the estate tax is dumb

www.slowboring.com
Hildene mansion and formal garden at Manchester in Vermont.
(Photo by: John Greim/Loop Images/Universal Images Group via Getty Images)

If you die, then your assets will pass tax-free to your spouse. And if you don’t have a spouse, then your assets will almost certainly pass on tax-free to your heirs. But if you are very rich and have over $11 million in assets as a single person or $22 million assets as a married couple, then you will need to pay a federal estate tax.

Most — though not all — Senate Republicans are very fired up about this and have introduced legislation to help out the heirs to large fortunes by eliminating this tax.

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