Plotting the Demise of the Death Tax
5th October 2018
Technically known as the estate tax, the death tax is the penalty that families must pay when a loved one dies and leaves them significant assets. It was created a century ago to help fund World War I. Naturally, it outlasted that conflict.
Proponents make it sound like the death tax affects only the super-rich. But whatever its original intention, that’s not how it operates.
The tax has destroyed countless family-owned businesses over the years. To pay the amount due, surviving members are often essentially forced to liquidate the business or sell big pieces to outsiders.