I'm not going to claim to agree with the thresholds set in this article - I think they are too high - but I think it is instructive about what the real battle for removing the estate tax is about for Bush and the Senate Republicans... From NPR:
A critical point that the pro-repeal movement obscures is that the one and only issue dividing us is the magnitude of the estate tax cut for the very wealthiest estates, not whether it should be cut at all. Those of us who oppose full repeal are for sensible reform.
We are committed to promoting the aspiration of Americans to build wealth that they can leave to their children and grandchildren. Sensible reform would ensure that married couples -- without the need for estate tax planning -- could leave $5 million to their heirs tax-free. For couples whose estate consists primarily of a farm or family-owned business, the tax-free legacy would rise to $8 million.
Put another way, those of us who support sensible reform propose that about 99.5% of all American families pay not a single penny in taxes on what they leave to their heirs. Not a penny. Zippo. Nothing. The overwhelming number of Democrats who oppose complete repeal would be willing to pass this type of reform today. This would create certainty and put the entire estate tax controversy behind us.
The fact that the White House does not leap to embrace a plan that is more fiscally-responsible and protects estates of up to $5 million per couple makes transparent that the entire fight against "death taxes" is a ruse. It is solely a fight for a massive tax break for the wealthiest one-half of one percent of estates. The cost to the rest of us: over $400 billion in the first ten years. (And yes, that is $400 billion with a "B.")
Repeal of the estate tax would provide $13 billion dollars in tax breaks to the around 750 wealthiest estates in 2011 alone. Imagine a civilization that brings 750 of its richest families into a room so that they can divvy up $13 billion among themselves (about $17 million a piece). And this at a time when we are in serious debt, at war with terrorists and facing a poverty rate of over 30% among our minority children.



But America's governments are pathetic on this issue.

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