Statement of Terry Neese: Distinguished fellow, National Center Of Policy Analysis Family Policy Center.

Support for the estate tax is based on three major claims.

One, inheritance is are a major source of wealth and equity. Two, the tax provide significant revenue for the federal government. Three, the individuals required to pay the tax can easily afford it.

These are, however, all myths. Not only the rich, but the lower and middle-class Americans, especially small business owners, should be concerned if the estate tax is not repealed or maintained permanently

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