Sunday, February 19, 2006

Estate-tax repeal: the backstory

This man put forth a sucessful program for cutting income-tax rates. This man wanted to repeal the estate tax. Who was he? Andrew Mellon, the banker/industrialist turned Treasury Secretary.

You can read all about Mellon's effort, and learn why his aversion to estate taxation was influenced by the settlement of Henry Clay Frick's estate, in this article by Susan Murnane.

Will George W. Bush have better luck than Andrew Mellon had in the 1920‘s? Stay tuned.

No comments: