The Estate Tax

"The debate over the estate tax continues to rage, with most Americans coming down solidly against the tax. Generally, it's the loud and rich who support America's death tax. Warren Buffett, for example, showed his true colors recently by giving a very large charitable gift to the Bill and Melinda Gates Foundation. His intentions, however, weren't wholly benevolent. The gift was his way out of paying $17 billion in taxes when his bell tolls. Meanwhile, he advocates the estate tax for everyone else.

The death tax hits many Americans hard, destroying dreams of family-owned businesses. Only one in ten family businesses makes it to the third generation due to the tax. It accounts for merely 1.2 percent of federal receipts ($28 billion), but costs the economy more than $60 billion in compliance costs according to Congress' Joint Economic Committee. The only winners are hypocrites like Buffett—those who have enough money and time to shelter their assets."

Source: The Patriot Post

Emphasis mine-HH