Estate Tax

Dear Jim,

       OK. OK. OK. We practically agree. The recently passed tax bill makes the code infinitely more complex. The $500 per child tax credit–added complexity. The tuition credit–added complexity. But, the effort to eliminate the estate tax–that’s simplicity. No generation-skipping trusts, no complicated charitable foundations, no expensive lawyers and accountants with their estate-planning doodads and geegaws charging you thousands of dollars to advise you how to avoid Uncle Sam at death. Jim, elimination of the estate tax moves toward what you and I both want. A flat, simple tax. The way I look at it, however, the recently passed tax bill helps us. One more level of complexity added to already-existing multiple levels of complexity. Sooner or later the public will not just tire of it–they will revolt. Hopefully, you and I–together with Porthos, Aramis, Athos, and d’Artagnan–will be there to lead the revolt.