I am strongly opposed to death taxes of any sort. Those monies have already been taxed, and they belong to your estate which is really just a legal extension of you. You could have spent your assets when alive, but chose to conserve them. Saving is supposed to be a virtue.
(I am also opposed to gift taxes which limit how much one can give to a family member, or anyone else, without a tax penalty, but that's another topic.)
I do understand that the greedy government wants any money it can get, from any source, and I also understand that estate planning for the wealthy employs thousands of attorneys and accountants who might otherwise have little to do.
What's wrong with the idea that, over time and over generations, there would be the freedom for families to accumulate assets for the benefit of their present and future kin? The more, the better. Financial independence to some degree can be either a blessing or a curse, but, contra Teddy Roosevelt, that's not government's proper concern. I have seen family businesses, farms, and family vacation places destroyed by estate taxes, and it seems wrong to me.
Here are my poll questions - assuming you and spouse have died:
1. Do you want to leave any assets to your kids, grandkids, relatives, friends, or do you want to die broke?
2. What % of your estate would you wish to give to charities?
3. If you have one prosperous kid and two middle class or poor kids, would you write your will differently for them?
