Semi-Daily Journal Archive

The Blogspot archive of the weblog of J. Bradford DeLong, Professor of Economics and Chair of the PEIS major at U.C. Berkeley, a Research Associate of the National Bureau of Economic Research, and former Deputy Assistant Secretary of the U.S. Treasury.

Sunday, June 04, 2006

Any Advocates of Estate Tax Repeal?

The Republican congressional leadership is trying to push permanent repeal of the estate tax through the Senate this week--without, of course, any offsetting spending cuts to neutralize the impact on the federal deficit. This is, as Bob Reich pointed out, a deficit-widening move of about the same order of magnitude as Social Security's long-run 75-year deficit.

I haven't found anybody serious willing to argue that this $5 trillion present value increase in the deficit and steeply regressive change in the tax code is good public policy, save for Ed Prescott:

Prescott, "Death and Taxes"

Is there any other serious economist arguing that this is a good deal? Any other half-serious economist? Quarter serious?

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