Comment

Estate Tax: Let's try to think about this for a minute ...

3
samuraishake12/15/2010 5:56:42 pm PST

Another unintended consequence of eliminating the estate tax - charities.

I work with several in the area, and the finance directors noticed a steep drop in estate donations the moment the estate tax was eliminated (money donated to a charity upon death is not counted in the taxable estate). It turns out super-wealthy folks don’t really like to give to charities unless they have to - even when they’re dead.

Now most of the non-profits are in a budget crunch, aside from the other economic turmoil.