When Mary died in 2018, she left her child $500,000 in cash (generated from labor earnings), $5
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When Mary died in 2018, she left her child $500,000 in cash (generated from labor earnings), $5 million in stock that she had purchased (with labor earnings) for $700,000 in 1995, and a $6-million home she had purchased (with labor earnings) for $800,000 in 1990. Evaluate the argument that the estate tax represents double taxation of Mary’s income.
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