Are Philanthropists Avoiding the Estate Tax?

Michael Krasny, the host of Forum, asked Grover Norquist about the pledgemade by Bill Gates and Warren Buffett to give away half of their wealth.In response, Norquist suggested that these great philanthropists are actually trying toavoid the estate tax.  Instead ofallowing the government to redistribute their wealth through the estate tax,Norquist believes philanthropists would rather choose the beneficiaries oftheir wealth themselves.  A downside tothis assertion is that these philanthropists are deciding exactly what theywish to fund “and in many cases we’re talking about museums and universities,not homeless shelters and indigent mental-health programs.”

See Tim Redmond, Norquist Exposes Tax Avoiders, SanFrancisco Bay Guardian, Apr. 3, 2013.