wk14 - • It unfairly targets family business and it...

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Jenna Yu November 23, 2009 Soci 101 Wk 14 Reading Notes Morris and Grimes, “ Moving Up from the Working Class ”. Keister, Lisa. 2003. “ Repealing the Estate Tax . Contexts . V4 (Iss 1): 42. Both proponents and opponents of estate tax agree that the central issue around estate tax lies on wealth inequality. Moreover, many believed that the estate tax actually promotes and creates more wealth inequality in the country; repealing the estate tax create more wealth disparities Minorities are overrepresented among the asset poor.
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Unformatted text preview: • It unfairly targets family business, and it penalized people who save, reduces incentives to work. • One’s personal wealth is calculated by one’s net worth or total assets minus the total debts; some based on income to assess one’s level of wealth; however, people can be income-poor but still wealthy if he accumulates assets. • Increase wealth gap and additionally, wealth ownership disparities are still high among racial groups in the United States....
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