President-elect Donald Trump will soon assume his position, and as it stands, the Democrats have control over the Executive and Legislative branches, but their party was severely wounded after the election. Consequently, many assume that they will raise the white flag in regards to the estate tax. With the greatest wealth transfer in human history occurring, however, it would be foolish to assume the Democrats would not put up a fight. This final battle over the estate tax should not come as a surprise due to the long 100-year history on the United States’ war over taxation. Throughout this time span, liberal economists and academics have argued over the estate tax’s economic importance and its service to inequality. Those Republicans seeking to repeal the estate tax believe it will be one of the final components to stir economic growth, while the Democrats seek to maintain its existence.
See Darren T. Case, Trump vs. the Democrats: Is This the End of the 100-Year War over the Estate Tax?, Hill, January 12, 2017.
