Also, just came up with a reason to oppose this tax that even liberals can agree with - it probably hurts the poor. If you're poor, and your parents still have a little money saved before they die, wouldn't the inheritanance help your situation? But if it's taxed, you get less - money that could have gone to buy something you needed was taken from you.
Verry funny. Given that you need an estate of $1,000,000 before the federal estate tax even kicks in, this is most certainly not a tax that affects the poor however you wish to define that nebulous term. The estate tax is most certainly a tax on the rich. Whether that is a good policy or nt is debatable (I think it is, but with with a much reduced top marginal rate. The rate of the estae tax is way too high and needs to be cut to maximum of 20% and preferably lower.) However, it is no debateable this is a tax that affects extremely few people and that the manner in which the scaling back of the estate tax was done reeks of gimmickery and put off a painful budgetary decision until after 2009 when Bush will certainly be out of office.
