> > they could actually make a case for why the estate tax is a
> > good thing, and maybe should be higher, say, confiscatory.
> Oh yeah, that's a great idea. There are a significant number of people
> who get hit by this tax who are "one-time-rich" -- they sell their
> house after 40 years, or they die with no estate planning. The
> 'normal' rich aren't subject to this kind of thing, because if you're
> rich for a long time, you figure out (and hire professionals to help
> you) how not to just be a tax victim.
>
> /jordan
What constitutes a significant number in this instance? The number of these people amoung the general population? What percentage of the population owns or inherits a home worth enough to worry about this? The estate tax hits estates worth $1.5 mil for individuals or $3 mil for couples, right? Is even 5% of the country really going to experience this tax when they retire or when their parents drop?
John Thornton