Doing away with the estate tax will increase the already steep disparity between rich and poor and further encourage the creation of a class of wealthy and privileged families. In other words, an aristocracy — something that the Founders sought to avoid as they formed our democracy.
The tax now falls on only a few families — estates of couples worth more than $10.98 million, and only on the portion that exceeds that amount. According to the Joint Committee on Taxation, “99.8% of estates owe no tax at all.” Repeal would give a windfall for the top 0.2 percent, ranging from $3 million to more than $20 million.
How does this help working families? It doesn’t. Republicans in Congress must hear from those of us who understand, and thus oppose, this travesty.
Ginny Sherman
Southeast side