I just don't get it. Why are so many folks against this? The truth is, there shouldn't even BE an estate tax whatsoever. It is taxing money and income that ahs already been taxed. That's double taxation; something we fought a revolutionary war over!
I just can't believe so many Americans are perfectly happy to support our bloated government double dipping into other Americans pockets.
Heck, let's look at what this tax does. When the ownerof Walmart dies, what will happen? Well, the heirs will lose HALF the company's value to the US government in the form of a completely bogus tax. What happens then? Simple! They close a myriad of stores, fire employees and cut wages and benefits.
Are people really so shortsighted that they don't realise this? I mean nevermind the simple fact that double taxation is flat out WRONG, it doesn't just hurt the rich, it hurts everyone working for those rich folks.
Reason I bring this up is because people are saying a minimum wage increase is likely to be stopped because they are going to tack on an estate tax cut to it. The fact that any bill would be held up because of that sickens me.