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Title : "Only morons pay the estate tax" is a reason (if it's true) to get rid of the estate tax.
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"Only morons pay the estate tax" is a reason (if it's true) to get rid of the estate tax.

It may sound rude, but it's memorable, and it makes a point. Gary Cohn, Trump’s chief economic adviser, said it and also resaid it more politely: The estate tax is only paid by “rich people with really bad tax planning.”

The NYT has an editorial about it, in which it uses the word "loopholes" to refer to the provisions of the tax code that allow for the avoidance of the estate tax, and "windfall" for what Cohn's "morons" would get if the estate tax were repealed.

I'm tempted to ask Why doesn't the NYT care about morons? Shouldn't the law protect those who lack the intelligence to take steps to protect themselves? But I guess the NYT would say that the rich who are doing intelligent tax planning are bad people, and the rich who are exposing themselves to the estate tax are good people. No need to give a "windfall" to the good rich people who decline to use the tax avoidance provisions (the "loopholes"). Let's just give them a pat on the head and move on to denouncing the bad rich, the ones who aren't paying their fair share.

On the other side of the argument are Republicans who call the estate tax the "death tax" and stress that it hurts small businesses and farmers — including businesses owned by women and minorities.

The NYT says this characterization of who pays is wrong. It says (and see if you find this as hard to follow as I did):

So who actually does pay estate tax?... A few dozen farmers, and even fewer minority business owners. About 80 family farmers or small-business people would be subject to the estate tax this year, according to an analysis by the nonpartisan Tax Policy Center — a far cry from the “millions” Mr. Trump wrongly claims. The biggest winners in an estate tax repeal wouldn’t be struggling ranchers, minority contractors or mom-and-pop grocers. They’d be people like Mr. Trump’s kids, unless they’re …

Morons. “Only morons pay the estate tax,” Gary Cohn, Mr. Trump’s chief economic adviser, told Senate Democrats, meaning, it was later explained, “rich people with really bad tax planning.” Many of the very wealthy use loopholes, like trusts, to avoid paying inheritance tax. We don’t know where Mr. Trump’s kids would stand because Mr. Trump has never fulfilled his promise to publicly release his tax information.

First, how would "people like Mr. Trump's kids" be the "biggest winners in an estate tax repeal... unless they're morons"? Shouldn't it be the biggest winners will be people like Mr. Trump's kids only if they're morons? If they're not morons, they're already using the "loopholes." They have good tax planning. They don't need the repeal. The repeal is only needed by those who are too moronic to get tax planning. (Actually, it's not the heirs who do the tax planning. The question isn't whether Trump's kids are morons, but whether Trump is a moron.)

I guess that's just an editing screwup, where it seemed cute to connect those 2 paragraphs. The idea is: Don't think of anybody sympathetic. Exclude all the farmers and mom-and-pop people. Visualize those Trump kids. That's who you should think of the repeal as helping. Now, let's think about morons. The Trump kids, like a lot of rich kids, are probably protected by tax planning, but some of them are morons (or, really, have parents who are morons). Do you care? Trump-kid types sometimes get less money because of a moronic failure to do tax planning: Who wants to help them?! We're currently raking in revenue from these unsympathetic nitwits. Why is that a problem to be fixed? That's the argument that, I think, was intended.

Finally, let's look at the radical discrepancy between Trump's "millions" and the number 80 that the NYT used. The Times is referring (I'll assume correctly) to the number who become subject to the estate tax in a given year. Trump said he wanted "[t]o protect millions of small businesses and the American farmer." His set of persons is everyone who might ever be subject to the tax, dying over a period of many years, and including people who might not, in the end, have enough to be subject to the tax but just have to worry and make decisions under the influence of the tax and those who are under pressure to use the services of tax professionals because they've heard that to fail to do so is to be a moron. 

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