If I or anyone else wants to save their money and leave a significant amount for their children, it should be our right - without question. If you can't pass on to your children what you've worked for, then it really isn't yours. You're taxed on what you earn. Taxed on what you purchase. Taxed on any income you may make from investing the money you've already paid taxes on. Local tax. State tax. Federal tax. Automobile tax. General sales tax. Property tax. Capital gains tax. etc. etc. All of this so that ‘public servants’ like the Clintons have lots of ‘government money’ to spend to buy votes, all the while they are making themselves extremely wealthy. This is out of control.
(This means that fewer than 1% of all estates are taxed.)
1) eliminating Federal inheritance tax is revenue enhancement. Wealth will not get a stepped up basis in the estate and thus when sold will be subject to income tax.
2) Eliminating Federal inheritance tax still leaves State inheritance tax so the accounting does not go away, but gets more complicated.
3) Better the devil we know instead of fixing it like we did health care..........................