Death and Taxes
Wednesday, June 17th, 2009 By Marc Kilmer
As you may have noticed on our website, the Buckeye Institute today released a report authored by former Congressional Budget Office Director Douglas Holtz-Eakin and Cameron Smith. It discusses the effect of the estate tax on small businesses and finds that permanently eliminating the estate tax could create roughly 1.5 million jobs. In Ohio, over 58,000 jobs would be created. President Obama’s “stimulus” plans will ostensibly create 3 million jobs. An estate tax repeal would be a far cheaper alternative.
This study does not discuss state estate taxes. Ohio’s estate tax was the subject of a 2001 Buckeye Institute report which, while somewhat dated, still offers a grat analysis of the tax and recommendations for reform. The tax is also mentioned in the policy brief Ohio’s Dumb Taxes. Needless to say, the research suggests that if Ohio were to eliminate its estate tax, it would be better off economically.
Tags: estate tax
