Essay --

The Estate Tax, known as the death tax as head as the anti-birth tax, has been one of the most arguable parts of the United States tax code since its introduction in 1916 (Cagetti & De Nardi, 85). The farming tax is a tax enforce upon assets transferred at the time of the estate holders death. Those opposed invite named it the death tax as they claim it hurts business activity as well as job creation. However, according to those in favor, the estate tax is an effective way to tax the richest few, and redistri preciselye their wealth, thereby narrowing the gap of inequality. For those in favor, an abolishment of the estate tax would impose a birth tax of sorts onto the majority of Americans who have not inherited a large sum of money (Cagetti & De Nardi, 87). The controversial estate tax in the United States is often questioned by many and has been challenged time and time again. However, more emphasis has typically been put on extra aspects of the tax code where points of dispu te are found. In order to fully understand the positions taken by those in favor of the estate tax, and those opposed, it is important to fail the generality of the tax, as well as the details within it that have been contended over time. Some of the main aspects of the estate tax are taxability, deductions, and exemptions. These aspects are of splendor in the context of the ongoing debate, as they most directly educate the tax to those transferring their estate at the time of death.Taxable estate assets include those passed along through a will, for example (transfer of property), or the payments or insurances disbursed to beneficiaries of the deceased (IRS, Estate Tax). The IRS considers the transferred assets that are federally taxable t... ... decedent chose to do with their assets. Finally, the very existence of the estate tax puts a significant strain on the overall economy placing undue burdens not only on the rich or on family business, but also those who would be positi vely affected by the undistorted efforts of those individuals subjected to the tax (Hasset). The federal estate tax, coupled with the local state estate tax have very discouraging and negative effects on not only those taxed, by those that are not (Ebeling).Estate taxation is a highly controversial issue in the United states tax code, and has been appropriately debated from before and since its introduction in 1916. Wether its existence be referred to as the death tax, or its absence as the birth tax, those for and those against have long argued its fundamental validity and appropriateness, its effectiveness, and its contents.