Richard Thaler on estate taxes

Richard Thaler’s latest Economic View column:

Consider three courses that Congress might take:

• Do nothing and go back to the 2001 exemption and rates.

• Make the 2009 rates and exemption permanent, an approach that the Obama administration favors.

• Make the 2010 rules permanent, thereby eliminating the estate tax, as the Republican leadership would like to do.

In thinking about these options, let’s debunk two common misconceptions.

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