PLEDGE NOW
Estate Taxes & Political Calculations

The President’s deal with the GOP scales back the estate tax. House Dems are saying “too far, too much.” The GOP says “must have.”

Senate Finance Committee Chairman Sen. Max Baucus, D-Mont., Dec. 13, 2010, before going to vote on the tax cut legislation. (AP)

The tax debate rages on in Washington, even as President Obama’s tax deal with Republicans rolls on. 

The Senate is lining up to pass the deal today. Republican leadership is saying, “Pass it, or else.” House Democrats are drawing their new line in the sand at the estate tax. 

The GOP-White House deal would be a sweet deal for America’s richest families: mountains of wealth to pass on, with a light tax touch. Too light, say Democrats, at a time of huge American inequality and huge federal deficits. 

We hear the debate on fairness, the future, great fortunes, and the estate tax.

-Tom Ashbrook

Guests:

Bob Cusack, managing editor of The Hill.

Ray Madoff, professor at Boston College Law School, expert on the estate tax. She’s author of “Immortality and the Law: The Rising Power of the American Dead.”

Douglas Holtz-Eakin, president of the American Action Forum, a think tank. He’s former director of the Congressional Budget Office, from 2003-2005, and served as chief economist to John McCain’s 2008 presidential campaign.

Michael Burgess, Republican congressman for Texas’ 26th district.

Jim McDermott, Democratic congressman for Washington State’s 7th district.

Read Teddy Roosevelt’s statement a century ago about inherited wealth and estate taxes.

(AP Photo)

Please follow our community rules when engaging in comment discussion on this site.
ONPOINT
TODAY
May 31, 2016
This 2006 colorized scanning electron micrograph image made available by the Centers for Disease Control and Prevention shows the O157:H7 strain of the E. coli bacteria. On Wednesday, May 26, 2016, U.S. military officials reported the first U.S. human case of bacteria resistant to an antibiotic used as a last resort drug. The 49-year-old woman has recovered from an infection of E. coli resistant to colistin. But officials fear that if the resistance spreads to other bacteria, the country may soon see germs impervious to all antibiotics. (Janice Carr/CDC via AP)

A new superbug resistant to our antibiotic of last resort has shown up in the U.S. We look at the threat, and our dwindling antibiotic options.

May 31, 2016
In this July 31, 2015, file photo, an orca or killer whale breaches in view of Mount Baker, some 60 miles distant, in the Salish Sea in the San Juan Islands, Wash. ( (AP Photo/Elaine Thompson, File)

The end of orcas at SeaWorld, McDonald’s using cage-free eggs — should animal lovers be optimistic about a new “humane economy”?

RECENT
SHOWS
May 30, 2016
Rock icon Donald Fagen looks back on a lengthy and ongoing career in his new memoir 'Eminent Hipsters.' He co-founded the classic rock group Steely Dan with Walter Becker in 1972. (Penguin Books USA)

Steely Dan frontman Donald Fagen talks “eminent hipsters” and the cultural outliers that shaped his sound. He joins us.

 
May 30, 2016
Author and Harvard Business School social psychologist Amy Cuddy. (Photo by Bob O'Connor / Courtesy The Author)

Strike a power pose. Social psychologist Amy Cuddy on the power of presence when you’re ready to act and win.

On Point Blog
On Point Blog
Good Internet Comes To Those Who Wait
Tuesday, May 31, 2016

Remember when we promised you a new website? We meant it.

More »
Comment
 
In The Garden, Mother Nature Makes The Rules
Friday, May 27, 2016

Executive producer Karen Shiffman explains why she turns to her garden for food, friends and natrual comfort.

More »
Comment
 
WWII Vet Larry Kirby Reflects On American Values
Thursday, May 26, 2016

Looking ahead to Memorial Day, a World War II veteran looks back at the experiences that mattered to him, both in and out of war.

More »
Comment