Taxes, in general, are a necessary evil. An exception is the estate tax, which is beneficial. The GOP is trying to take some teeth out of the old saw about death and taxes. Republicans are proposing repeal of the estate tax. As part of the sales pitch, they have renamed it the death tax.
Call it what you will, the tax is socially beneficial. The tax is progressive, only applying to estates over 11 million for married couples, and half of that for singles. With tax planning and exemptions, the number is actually higher. The estimate is that it only applies to the upper 1/5 of 1 percent of all families. Even that is deceptive since the tax is graduated, and is rather nominal under 20 million dollars. Among the few who would benefit from repeal are the President, and most of his billionaire cabinet.
The tax slows down the concentration of wealth at the top. Unrestricted concentration of wealth has historically resulted in oligarchies that undermine democratic principles. The accumulation of wealth by entrepreneurs and innovators may well create jobs and opportunities. Tax free inheritance by their heirs, not so much. Will the country really benefit if Eric, and Donald Jr. inherit one billion, rather than 600 million each? Trust fund babies will not make this country great again.
The annual loss of 20 billion in revenue will result in either, higher taxes elsewhere, a reduction of government programs, or an increase in the deficit. All of the alternatives are bad for the middle class.
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