Politics of the Estate Tax

The U.S. House of Representatives voted overwhelmingly to permanently repeal the estate tax yesterday — for the fourth time since 2001. Now, the measure is headed to the U.S. Senate, and with a few tweaks, it is expected to pass.

Republicans say the estate tax is a death tax, and want it gone for good. Democrats say its repeal is a tax cut for the super wealthy, that will only dig the U.S. into a deeper hole.

Hear a discussion on the politics at play, and what it will mean for all Americans, rich and poor, if the estate tax is repealed.

Guests:

Jonathan Weisman, financial reporter for The Washington Post

Michael Graetz, professor of law at Yale University, former deputy assistant secretary for tax policy at the U.S. Treasury and co-author of "Death by a Thousand Cuts: The Fight over Taxing Inherited Wealth"

Ed McCaffery, professor of law, University of Southern California and author of "Fair Not Flat: How to Make the Tax System Simpler and Better."

Tim Kane, research fellow at the Heritage Foundation and former senior economist at the
Joint Economic Committee of the U.S. Congress.

Jack Beatty, On Point News Analyst and a senior editor at The Atlantic Monthly.