How 40 Years of Tax Cuts Have Exacerbated Inequality
Talking Tax
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The Estate Tax
The estate tax goes way back in this country almost to the time of the passage of the income tax. A lot of Republicans thought it was a good way to prevent the growth and the development of a financial aristocracy in America. Since 1980, it's been progressively lord and now it covers very, very few Americans. In 40 years when there's been an incredible growth and wealth of people at the very top of the income scale in America, estate taxes are flat. By any standard imaginable that should have doubled or tripled or perhaps even quadrupled if you kept the system that was in existence in the 50s, 60s and early 70s.
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