Opinion of the estate tax

[bedstuy]

The House recently passed a repeal of the estate tax.  What do you think of the estate tax?

(note, what do you think of that estate tax, NOT the estate tax repeal because that would be the opposite presumably)

[bedstuy]

As a fundraising tool, it makes a good deal of sense. As a "moral imperative", it's horrible.

I'd support getting rid of it, at least for all inheritances under 500K total value, and keeping the higher level reasonable.

1.  Taxes are literally a fundraising tool. 

2.  The estate tax kicks in at $5.53 million dollars.  So, there is no need to get rid of it for inheritances under $500k.

[bedstuy]

I oppose it on moral grounds, but the way it is now isn't so bad as long as the tax is kept at a reasonable level.

Why is it immoral?

[bedstuy]

I oppose it on moral grounds, but the way it is now isn't so bad as long as the tax is kept at a reasonable level.

Why is it immoral?

Because an individual should have the right to pass on his already taxed income to his heirs.

What do you mean already taxed?  It's hard to trace money like that, it's like the water cycle.  At some point, that dollar was taxed 25 different ways on its journey to the rich kid.

And, they can pass their wealth to their heirs.  Just $5.3 million or whatever and a taxed amount above that.