What do Americans think about repealing the estate tax?
They’re against it. A Jan. 2006 poll of 1,026 adults 18 and over found that 71 percent of respondents were “concerned” or “very concerned” about the current federal deficit. 69% viewed keeping the estate tax on estates over $2 million as the best of eight possible ways to reduce the deficit. A 2005 poll found that when voters hear all the facts about the estate tax, 69% favor reform and only 22% favor repeal. This includes 64% of Republicans, 72% of Independents, and 66% who own a farm or business. Americans would prefer to spend the revenue on other priorities rather than repealing the estate tax. 73% prefer to spend the money on Social Security solvency; 67% prefer spending the money on K-12 education; and 56% prefer spending the money on homeland security. A survey conducted in May 2002 found that when voters hear all the facts about the estate tax, 67% support reforming the tax, while only 27% support repealing it. Why is it important to reform, rather than repeal, the estate tax?
