But many of those most affected by the estate tax include middle-class people whose wealth has grown during Clinton's time in the White House. But those numbers may soon be out of date. Americans are richer than ever, thanks to the soaring stock market and surging home prices. Clinton wants Americans to thank Democrats for the boom. The GOP wants them to thank Republicans for letting them keep it, much of it.
Many economists criticize the tax.
They say it serves no productive purpose, makes busy work for Internal Revenue Service bureaucrats, actually costs more than it's worth and socks the heirs of those Americans who saved, invested and built for the future. In some cases, the death of a loved one has triggered the sale of a successful family business just to pay estate taxes, critics note. In a recent report, the Institute for Policy Innovation, a Lewisville, Texas-based think tank, blasted the estate tax. The tax costs almost as much to collect as it brings in. Families can lose their farms and businesses just to pay the tax.