Higher Estate Tax = More Jobs Lost

Douglas Holtz-Eakin, president of the American Action Forum, calculated that the reinstatement of the federal estate tax at a 65% rate would cause 1.6 million jobs to be lost. Holtz-Eakin’s study shows that the higher the estate tax, the less likely small businesses will have capital outlays, including making investments in hiring.

See Michelle Lodge, Estate Taxes Deter Hiring: Economist, CNBC, Sept. 16, 2010.

Special thanks to Jim Hillhouse (WealthCounsel) for bringing this to my attention.