The inheritance tax is necessary to ensure that all Americans are given a more equal opportunity at success. Without an inheritance tax the richer only grow richer while the poor grow poorer. The rich are able to horde their resources and have their wealth multiply over time as they continue to exploit the less fortunate in society.
The inheritance tax should be reintroduced to help society pay for its needs. The services the government provides need to be payed somehow and this is an acceptable way. We are in a huge financial crisis right now and now is not the time to be reconsidering this issue. These items still require the society that protects their freedoms, and likewise so do their possessors.
Along with other reasons, the inheritance tax should not be introduced as it is hard earned money that has already been taxed for. Can't someone pass down to their children without it being taxed? Your basically giving the message not to save up because you can't give it to your children without loosing it to taxes.
In my opinion, the inheritance tax is an outdated method, and was abolished for due cause. The pragmatic view that we need to apply must see that the taxation over many decades well outweighs the tax given from this tax. Allow the entirety of a individuals working life remain untaxed, in order for them to leave something behind for their children.
The inheritance tax is just another way that our government taxes you on items that have already been taxed. For example, if you inherit a house, that estate has previously paid a number of taxes and fees. How many times should the tax collectors hit the same item?
When you tax an estate, there is no way to tell whether the recipient is able to pay the inheritance tax. For example, a farmer might have to sell a farm that has been in his family for generations because he cannot pay the imposed tax. This is not reasonable or fair.
It is my opinion that the inheritance tax is an antiquity of our tax system. Somewhere down the line, the items that would be passed down from a decedent to a beneficiary have been taxed in some form. If the inheritance is monetary, most likely those funds were taxed at the point of receipt or taxed on the growth of the funds (if they were invested). Following this logic, the inheritance tax would allow the government to effectively double tax the value of the inheritance. This is why I do not believe it should be reinstated.