New York Times Editorial

Today’s (August 8, 2005) editorial contains an anti-estate tax repeal editorial.

The opinion claims that

[a] critical mass of senators has apparently realized, to their credit, that abolishing the estate tax would be unforgivably reckless, in large part because it would cost an estimated $745 billion during the first 10 years of repeal – revenue that would have to be made up by borrowing, slashing government services or raising taxes elsewhere.

The editorial’s proposed solution is a “$2 million exemption and a rate of 45 percent.”

Editorial, The State of the Estate Tax, NY Times, Aug. 8, 2005.