April 4, 2006 02:14 PM | Permalink |
Congressional leaders are once again pushing for permanent repeal of the federal estate tax. This clamor for immediate action is odd enough given that the currently scheduled estate tax phase-out won’t revert back to prior law until 2011. But newly released IRS data on estate tax returns filed in 2004 make it even clearer that Congressional tax writers are seeking to enrich a small group of the very wealthiest Americans at the expense of everyone else. Here is a quick overview of the new IRS data.