Dick Durbin: “The simple fact is this: If an American and a spouse have assets…”

On the recordSeptember 26, 2006

The simple fact is this: If an American and a spouse have assets valued at less than $2 million at the time of their death, they will never pay one penny in estate taxes--not one. So if you ask who benefits from this repeal of the estate tax, well, sadly it turns out to be some of the wealthiest people in America. If you took 1 percent-- that is 1 out of 100--estates in America, people who die each year, only one-fourth of those will ever pay any estate tax. It is a very small number of people who have done very well in their lives in America who may end up paying estate tax.

Said by

Dick Durbin

Democratic · Illinois

Source

govinfo.gov

Editor's note · Context

Discussing the implications of the estate tax during a Senate floor debate.

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Dick Durbin: “The simple fact is this: If an American and a spouse have assets valued at less than $2 million at the time of their…”

Editor's note · Context