Re: inheritance taxes/US

What everyone here seems to be ignoring is those with the $2, $5, $50
million estates are smart enough(and rich enough) to shuffle money
around and avoid the estate tax altogether. There are numerous
vehicles to do so. It just takes some clever accountants and lawyers.
Trust funds, corporations, partnerships, etc can be established
allowing all estate value to transfer "transparently". It just takes
money to do this.

The estate tax does not accomplish it's supposed goal of limiting
wealth accumulation(beyond a certain point). It is very effective in
limiting the middle-middle class from ever "getting ahead", but those
that already are, arent' even phased by the estate tax. Those with
enough money can avoid it. Those that have large amounts of equity but
not necessarily cash(family farms with inflated land values), can't
avoid this and end up selling the farm or in unmanageable levels of
debt.

JW

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