Last Saturday, we blogged how Katrina claimed estate tax repeal as yet another victim of the hurricane. Yesterday’s New York Times caught up to the story in How to Assure the Very Rich Stay That Way:
Hurricane Katrina may have cost very wealthy people a lot of money. Perhaps it would be more accurate to say that it may have cost their heirs a lot of money.he cost came not from the direct effects of the disaster. It came because the hurricane’s impact on the poor people who remained in New Orleans made it politically unattractive for the Senate to vote on repealing the estate tax this week.
In a wonderful example of the power of blogs, a leading tax academic (Jim Maule) and practitioner (Stuart Levine) have engaged in a particularly erudite dialogue about Katrina and the estate tax:
For other interesting tax blogosphere commentary on Katrina and tax policy, see:
