So i take it you are in favor of a estate tax? and thus you are in favor of double taxation. Not only do people work to build a nice estate that they initally got taxed around 30% you want that then to be taxed again at close to 50% when they pass and want to leave it to their children? Guess not amount of money is enough for the government.
With the estate tax what happens to the father who has built a small estate of approximately 2 million dollars the majority of which is a home and land which has been in the family for generations. He wants to pass the property onto his son/daughter when he dies however the child only makes 30K a year but the estate tax is ~800K on 2million. How is the child making 30k a year with a wife and two children supposed to pay those kind of taxes. The only way he can is to sell the property which has sentimental value to the family.
The child wouldn't be able to keep the property with 0 estate tax because he can't afford the property tax. The child needs to step his earnings up if he wants to own a $2 million property.
