Donald Trump and Hillary Clinton have vastly different views on many if not most issues in this year’s Presidential election but one key difference is their opinions on the future of the estate tax as New York Times columnist Paul Krugman explains in “Hair Meets Heirs” where he details the possible impact.
Donald Trump has proposed to abolish the estate tax entirely while Clinton is proposing to expand it. Krugman is a well-known liberal economist so it should not be surprising that he favors Clinton’s proposal and dismisses Trump’s.
The interesting thing about his opinion is not which side he favors. Instead, it is that he believes a large margin of victory for Hillary Clinton could open the door to Democrats being much more aggressive about the estate tax in the future.
America is very divided over the estate tax and that probably is not going to change anytime soon.
Whichever side you take in the debate, it is worthwhile to understand the differences between the presidential candidates and what the election could mean for the future of the estate tax.
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Reference: New York Times (Aug. 10, 2016) “Hair Meets Heirs”