Being wealthy is not a bad thing despite what people seem to think. The conservation of wealth is important in today's economy. If a father wants leave his son his factory, but the factory is worth 6 million, he simply liquidates the factory and fires the workers to provide for his son. Furthermore it is a violation of the constitution, no taxation without representation. When the deceased passes their wealth on, they cannot speak for th themselves obviously and thus cannot represent themselves. Finally, if you wanted to break up wealth and become more democratic, move to Canada. Why do you feel the need to ruin American lives to further your liberal agenda when you could simply move to Canada which is practically Communist. Thus, I rest my case.
Yes, an estate tax is unfair to the wealthy, because the wealthy have already paid taxes on the money. They have paid income taxes, and investment taxes, and it is unfair to tax them yet again. The only purpose in an estate tax is to impose socialism by preventing people from having money passed down from generation to generation. This is unfair.
Jefferson wanted to break up big estates and tax the wealthy through an inheritance tax (very similar to an estate tax) and distribute the sums from it to all US citizens at age 21.
Why? According to the founding fathers, concentrated, inherited wealth is incompatible with democracy. It serves to give the rich undue power to maintain their position.
An estate tax means that the deceased's descendants inherit less money than they would otherwise.
It is not unfair to ask the rich to pay an estate tax because it is a small price to pay for the maintenance of a healthy democracy in which people earn their money though hard work, not inheritance.
The estate tax puts a check on hereditary oligarchy. It serves to put a small check on the ultra-wealthy from creating generations that simply thrive based on a past generation's luck and fortune. To an extent, this encourages individuals to work hard for what they earn.
It is not a double tax considering the absurd amounts of money being paid to inheritors has not been earned by the inheritor.
Further, this is only in relation to the largest inheritances. The first $5,340,000 of an estate is exempt from the estate tax and there is no limit on how much may be transferred. Bounds of reason make for a better society.
Most of these wealthy families made their money because they could avoid taxes by investing in certain ways. These loopholes have left them with fortunes that the average person could never hope for. So they should pay on anything over a certain dollar amount that they want to leave as a legacy.