Tax those who can most afford it. And who can afford it the most? People inheriting $10 million to $50 billion dollars.HA HA HA HA HA HA!!!!! You have no idea how the estate tax really works, do you?
The estate tax is there to make jealous middle and low classers feel better. It doesn't actually take a lot of money away from rich people. Rich people have a boat load of ways to get around it.
It ends up punishing 1st generation "wealth" by tearing up family created businesses a heck of a lot more than it tears down multi-generational mega-bucks.
Current estate tax starts at those valued in excess of $1.5 million. Top rate on estates value over $4.5 million is 55%.
I'm sure there are tons of exemptions and effective rate for those estates under $10 million is much less than stated.
If Multimillionaires are not paying estate tax thats a good argument for changing the regulations not eliminating the tax.