Why?
And even if it were, wouldn't 15% be a little better than 50%?
It's not that simple. There are various and multiple exemptions, unified credit, prior gifts, etc, etc, etc.
For most Americans who would not even end up in a taxable situation in an Estate, the loss of the step up in basis would be catastrophic. Anyone whose taxable estate is under $1.3M would not pay ANY estate tax under existing law, and the step-up in basis would protect heirs selling appreciated property. If the estate tax were repealed EVERYONE would pay a capital gains tax on the increase in value of any assets passed to heirs, even if those assets were valued at less than $1.3M. An increase from 0% to even 15% is outrageous.
I'm surprised the democraps haven't figured this one out yet, because the "take" to the government would be dramitcally increased if the estate tax were eliminated. They must hate the rich so much they are willing to pass up this "extra" revenue from the little people.
Ironically, the super rich can afford to find ways around the estate tax and pay little or no estate tax anyway.