CNBC

Simon on CNBC on the Estate Tax

Simon went on CNBC yesterday to discuss the Estate Tax, in part in response to former Treasury Secretary Robert Robin and investor Julian Robertson's op-ed in the Wall Street Journal calling on Congress to reinstate the estate tax.

I really have no idea where Kate Obenshain is getting her figures on the estate tax, especially the idea of it killing 1.4 million new jobs. Probably from the same reality as one that questions the idea that the economy is in a better place than it was 18 months ago.

Here's what the former Treasury Secretary has to say about the economic effects of the estate tax:

An estate tax can provide revenue—with little, if any, adverse supply-side economic impact—to fund deficit reduction, additional public investment or added assistance to those affected by the economic crisis. Used for public investment that has a rapid spend out, or applied to assistance for economically displaced citizens, the net effect will be to increase demand. That's because roughly 100% of the funds would be spent, while part of any large inheritance is highly likely to be used for savings or debt repayment. And either deficit reduction or public investment will better position our country for future economic success.

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