Hello everyone. You probably have heard of the Estate tax or the so called "Death Tax". Ok first off, the "Death Tax" slur is highly dishonest and completely ignores the whole premise and why it exists to begin with, so I'm gonna set the record of straight here on the so called "Death Tax". Let's first understand what the estate tax is: [b]The Estate Tax[/b] is a tax on your right to transfer property at your death. It consists of an accounting of everything you own or have certain interests in at the date of death. The includible property may consist of cash and securities, real estate, insurance, trusts, annuities, business interests and other assets. Currently the estate tax is set at 40%, what people often miss, is that only applies to [b].14%[/b] of the population, as it only applies to combined gross assets exceeding $10,860,000 for married couples, every dollar that exceeds the sums above is taxed 40%, so $10,860,001 for instance, would only receive a tax on 40c. So why does it exist? Simple: [b]To prevent a privileged aristocracy.[/b] It serves as a bulwark for unlimited wealth and [b]power[/b] handed down the generations, it's the same as inherited monarchy, the founding fathers understood this. Don't believe me? Well, let's ask "communist" Adam Smith: [quote]A power to dispose of estates for ever is manifestly absurd. The earth and the fulness of it belongs to every generation, and the preceding one can have no right to bind it up from posterity. Such extension of property is quite unnatural. There is no point more difficult to account for than the right we conceive men to have to dispose of their goods after death.[/quote] Let's also ask Theodore Roosevelt, who declared that transmission of large wealth down to the next generation [quote]does not do them any real service and is of great and genuine detriment to the community at large.''[/quote] Abolishing the tax would give top .2% a tax cut of $3 million dollars and the give the 318 largest estates a windfall of $20 million, and it would cut revenues by $269 billion over the next decade. Which will mean one of two things: ballooning deficits or raising taxes on everyone else to fill the gap. This is a stupid idea because the wealthiest already have a larger portion of the nations wealth than any time since the gilded ages of the 1890s, do you really wanna go back to that?