James D. Schall's Blog (1)

  Why eliminate the estate and gift taxes?

  A estate tax with a $5,000,000 exception would tax large estates without taxing middle class assets to be left to family.  This tax would tax large estates that have avoided the sales tax that is the FairTax.

  The gift tax with a $50,000 exception would limit the availability to transfer a large estate without the payment of the estate tax.

  These taxes would enable the FairTax 23% to be lowered.