I have never understood the reasoning for this tax.
The wealth of people was accumulated post taxes. They or their parents have already paid taxes on the wealth. Now the feds think they are due 45% of the wealth in the upper brackets.
That is pure and simple thievery. They don’t deserve one cent on those funds, or material wealth.
the reason this tax “survives” is that probably almost no one except schmucks pays it
Do you think the Kennedys, Bushs, Reagans, Rockefellers, Heinzes’ (and Heinz-Kerrys), Edwrads (as in Two-Americas John), Cuomos, (Nan) Pelosis, (Harry) Reids, (Dianne) Feinsteins, Bloombergs yada yada yada
pay (or plan to pay) 45% of their estates to federal tax?
Even middle class family farmers have to hire attorneys to craft tax avoidance schemes to keep their land in their families
I think the reasoning, pure and simple, is wealth redistribution. They cannot let folks accumulate wealth in families.
The reasoning is that socialists want to eliminate the right of inheritance in order to eliminate the "rich".