Fairness of the Federal Estate Tax" Based on the information contained in the textbook, several arguments exist...

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Fairness of the Federal Estate Tax"
Based on the information contained in the textbook, severalarguments exist for the repeal of the estate tax. Using the StrayerLibrary or an Internet search, find an article from within the lastthree (3) years that makes a case for or against repealing estatetaxes. Provide the link to the article, as well as a summary of itskey ideas. Finally, share whether you agree or disagree with theconcepts in the article. Justify your response.
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The 2017 tax law doubles the estate tax exemption the value of estates that is exempt from the estate tax from 11 million to 22 million per couple1 The few estates large enough to remain taxable fewer than 1 in 1000 estates nationwide will receive a tax cut of 44 million per couple The estate tax cut will also create several tax planning opportunities for wealthy Americans and allow them to transfer millions of dollars in additional untaxed wealth to their heirs because the law retains the steppedup basis loophole This doubling of the estate taxfree amount is a prime example of the 2017 tax laws three fundamental flaws it is heavily tilted toward the wealthy loses significant revenue and makes it easier for wealthy people to game the tax system Policymakers should not only repeal the estate tax cut but also strengthen the estate tax beyond its 2017 rules At a minimum they could restore the estate tax to the 2009 rules when the exemption was about 82 million per couple in todays dollars and the tax rate was 45 percent Benefits Only Heirs of the Wealthiest Estates The 2017 tax law doubles the amount of an estates value thats exempt from the estate tax from 11 million per couple 55 million per individual to 22 million per couple 11 million per person See Answer

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