Policy Documents

Small Business, Big Government, and American Prosperity

Ralph Reiland –

Last month, Deputy Treasury Secretary Lawrence Summers, formerly a Harvard economics professor, declared, "When it comes to cutting the state tax, there is no case other than selfishness." Small business owners and family farmers who've worked double shifts to build up their enterprises have a different views. For them, the 55 percent federal estate tax represents a major obstacle to the survival of a business from one generation to the next.