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Article: It will be back: permanent estate tax repeal rejected. (Estate Tax).(Statistical Data Included)
- Article from:
- The NonProfit Times
- Article date:
- July 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 NPT Publishing Group, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Recent votes on legislation that will permanently repeal the estate tax has stirred the concerns of some in the nonprofit community, who believe a permanent repeal will decrease charitable giving, shift tax burden to middle- and lower-class taxpayers, and force government to cut nonprofit subsidies.
Supporters of a permanent estate tax repeal assert it may lead to more charitable giving because people will save on taxes and tax-avoidance costs, capital gains taxes will recoup some projected government revenue losses, and government has a hard time targeting programs and effectively spending additional revenue.
In June, the U.S. House of Representatives ...