WASHINGTON (Rooters agency) – There is now overwhelming Congressional support for President Dump’s tax bill, after economists pointed out the implications of one of its provisions.
It is accepted among economists who influence the government that people will do their best to avoid taxation. Thus, President Dump argues that reducing taxes will cause business people to invest money that they would otherwise spend on luxuries or hide under their mattress.
But, it has been pointed out, inheritance taxes must have a similar effect on behavior. One of the easiest ways to avoid the federal inheritance tax is not to die. This tax currently applies only to large estates, and, sure enough, rich people live longer than people whose estates are too small to be taxed.
Recognition of this logic has greatly increased support for the bill’s elimination of the inheritance tax. Once that tax is repealed, old rich people will no longer have an economic incentive to extend their lives.
“If it gets rid of him,” one Senator declared, “the loss of a few hundred billions of tax revenue is a small price to pay.”
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