On the recordJune 5, 2002
Let me just close with one very important point. We will also hear that making the inheritance tax repeal permanent will hurt donations to charity. The assumption there in that argument is that people are only giving to charity so they do not have to give it to the Federal Government. I just think that is not true. If we look at what happened after the Reagan tax cuts in the 1980s, giving to charity skyrocketed. I think wealthy people are motivated by the best intentions when they give. If they do not have to give as much money at death, I think they will give even more money to charity, and that America's charities will benefit from the permanent repeal of the inheritance tax.
Source
govinfo.gov
