
Originally Posted by
Olo401
When a person dies with a middle class net worth (these days we'll say that's under a million dollars) you're correct and I will agree with you all the way. But a person dies with many multiples of millions of dollars in net worth, even when it is taxed at a high rate (30-50%) their child's life WILL be MUCH BETTER than their own because they will have started off with a HUGE advantage already. The ONLY reason to do so is consolidation of wealth, and by extension consolidation of power.
You have to understand this - at a certain point of accumulated wealth a estate tax is necessary. Without it, kings and serfs are created.