GRATs are used by the rich to avoid taxes when passing vast amounts of money to their heirs. According to a 12/27/13 Washington Post article, "These tax shelters may have cost the federal government more than $100 billion since 2000, says Richard Covey, the lawyer who pioneered the maneuver. That’s equivalent to about one-third of all estate and gift taxes the nation has collected since then." If our nation can't afford to extend unemployment benefits for people unable to find work, we certainly can't afford this.
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