Impact of Federal Estate Tax

Daniel Miller (Senior Economic, Joint Economic Committee) has published the abstract of his paper Costs and Consequences of the Federal Estate Tax on SSRN.
   

Here is the abstract:
   

This study examines the arguments for and against the federal estate tax, finding that benefits of the tax are often overstated, and in any case are far smaller than the documented costs. On balance, the analysis finds that the costs imposed by the estate tax outweigh any potential benefits that the tax might produce. In light of this finding, there is no compelling reason to keep the tax, and a number of reasons to reduce or abolish it.