Is this perhaps some sort of badly-signaled satire, or a comment mis-submitted to the wrong thread?
I cannot understand what though-process led you to suggest repealing "it", whether that means the entire tax or whether it means reducing the number of brackets.
> The federal estate tax is 40%
It's misleading to cite that since it basically never happens.
The tax doesn't even come into the picture for fortunes below $30 million dollars (for two parents), and the rest of the time it averages ~14%.
https://www.cbpp.org/research/federal-tax/the-federal-estate...
Why not repeal it, then?
Is this perhaps some sort of badly-signaled satire, or a comment mis-submitted to the wrong thread?
I cannot understand what though-process led you to suggest repealing "it", whether that means the entire tax or whether it means reducing the number of brackets.
16% on the portion over $10M
Sure, but we're talking about rich people.