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May 11, 2005 - Phil Hodgen

A blogger’s tax reform proposal

The Tigerhawk blog has a tax reform proposal that has a high Sanity Quotient but unfortunately a zero probability of enactment.

I’m one of the tax lawyers in the tax/estate planning industry who would be wiped out if Tigerhawk’s estate tax proposal (item 1 on the list) ever comes about. I still think his idea is good, against my own self-interest.

The estate tax is — to a large extent — a voluntary tax paid by the heirs of dim bulbs and procrastinators. I am repeatedly astonished I can sit with a prospective client and show them I will eliminate $40 of estate tax for every $1 they spend on my fees, and they have to think about it. Then I never hear from them again.

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