Why should people who have worked hard in life and made money have to pay more when they die. Usually aren't you supposed to benefit from working hard? Besides, doesn't this go against capitalism, the United States economic system? Over all there are more reasons to get rid of Estate Tax than to keep Estate Tax.
Yes, I think that the estate tax should be abolished, because we pay way too many types of taxes. Just when you think you can still get ahead, you'll even pay a big tax when you're dead. People who have saved their money should be able to leave the money to their children.
Of all the taxes in the United States that deserve to be abolished immediately, the Estate Tax tops the list. A hurting family does not deserve to be put in a further position of burden when their loved one dies, especially not by a government who has taxed the deceased throughout his or her life.
The estate tax should be abolished because the person who has died leaves money and goods to the living in hopes that they can be taken care of with what they left them. There is no reason the government should rob the deceased and their descendants during such difficult times.
Income that you have not earned should be taxed much more than income that you earn. It's a trade-off. The more you tax unearned income, the more you have to tax earned income to get the same revenue.
As for the contemporary US and Europe, I'd much rather see a democratically elected republican government decide what to do with the wealth a citizen has worked hard to acquire on the basis of government funding and support, than see it nepotistically passed down to their children who have done nothing to earn it or contribute to it, and who still receive government funding and support in addition to their inheritance.
The latter seems to really throw a wrench in free and meritocratic competition. Plus, the estate tax doesn't even apply to people who aren't tremendously wealthy, so there's no question of depriving people of welfare or even a very comfortable lifestyle through the tax.
The estate tax is only for the extremely wealthy and lower class families don't have to pay it. It also pays for many programs such as healthcare, national defense, and education not to mention government salaries. If it was abolished the government would have to increase other taxes and or borrow more money to offset the lost revenue, increasing national debt. Also the estate tax in the U.S.A. is well below average compared to other countries.
Bad idea. Why should anyone get a windfall and expect no tax. They earned nothing. And since the estate tax kicks in at over $2 million, its only impact is on the super rich. How do we make up for the shortfall in taxes? Tax the lower wage earners, again. Stupid people arguing on behalf of the rich so they can get richer.
I feel that the estate tax should not be abolished. This tax is a way for government to collect money. While I feel our government collects enough money from citizens as it is by abolishing this tax they would need to find more revenue to replace this money. That's why they should keep the estate tax.