Great year for dead billionaires, trouble for us

Nelson Rockefeller addresses himself to student demonstrators in 1970.

Hey, remember the estate tax? That bogeyman of the Bush years—the injustice enshrined in the federal tax code that robs hard-working Americans of their right to establish multi-generational dynasties as the Founders intended? The death tax? It’s possible you’ve forgotten it because it only applies to estates valued above $3.5 million dollars, and like most Americans you only stand to inherit, like, $3.2 mil. Then again, maybe you forgot it because it doesn’t apply this year.

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