Evelyn Waugh summed up the absurdity of an estate tax by merely asking, "May a man keep his mistress in luxury but not his daughter?"
Meaning, while you are alive, your money remains your money. The moment you die, for some strange reason, what was your money suddenly belongs to the government. While you're alive you can spend your own money as you see fit: You can spend it on riotous living or you can give it to a TV preacher or gamble it all away at a casino or spend it on your mistress to keep her in luxury. But your daughter will not gain the benefit of your fortune when you die because the government suddenly says it is wrong for her to have it since she didn't work for it.
So . . . a man is allowed to keep his mistress in luxury but not his daughter. The daughter must work (assuming there is any work to be found, which appears more and more unlikely).
Hence, a man may keep his mistress in luxury but not his daughter.
- Moreover, the Estate Tax is BOTH immoral and COUNTER-PRODUCTIVE ! The government actually gets MORE money if you eliminate the estate tax. With the estate tax (i.e., "Death Tax") in place, the incentive is to die BROKE. Why give it all to the gov't? Just spend it all on riotous living in your own lifetime! Your heirs get nothing; no business gets built up over time and no extra long-term income to the government. Your mistress will be kept in luxury but not your daughter. Check this link out: http://www.thestandardleader.com/stephen-moore-right-now-is-the-time-to-kill-estate-tax/5560/