On the recordJune 22, 2010
But the issue here isn't any strong desire for us to engage in retribution against anybody or any class envy. The situation is this, and let's start with this chart. This is a percentage of estates subject to tax. The estate tax, which the Republicans called the 'death tax,' does not impact 99.3 percent of people who die in this country. Their families pay zero estate tax. It is only, as Senator Whitehouse said, the absolute mega superrich. It is not people worth just a few million but only seven-tenths of 1 percent. That means it is 7 out of 1,000 who will pay any estate tax at all. And so this issue-- not aimed at any one person--raises the question of: What do we do instead? The Duncan family--this is Mr. Duncan, whom Senator Whitehouse talked about--died with $9 billion, and his family pays no estate tax whatsoever.
