Inheritance taxes are sometimes portrayed as class war issues. They should not be. The moral importance of equality of opportunity is something that all people, rich and poor, can and should feel the force of. Seattle is fortunate to have many wealthy people who are taking the initiative to try to increase equality of opportunity through their own private giving. Promoting equality of opportunity is a cause that transcends class lines.
Percentages can be misleading here.
Properly spent, it could fund health care coverage or preschool classes for millions of children. But, in fact, there is more money involved than the taxes collected. Estate taxes serve to motivate many wealthy people to make charitable bequests in order to reduce those taxes. The loss of these charitable bequests is a substantial loss that would result from eliminating estate taxes, and one that is rarely mentioned by opponents of the tax. Historical progress in reducing inequality of opportunity is always incremental, with two steps forward often followed by one step back.