Based on the information contained in the textbook, several arguments exist for the repeal of the estate tax.

• Use an Internet search, and find an article from within the last three years that makes a case for or against repealing estate taxes. Provide the link to the article, as well as a summary of its key concepts.
• Please include your idea whether you agree or disagree with the concepts in the article. Justify your response.

This is a post from my class. I provided it as an example. Thank you

In 2021, Bernie Sander introduced the "For the 99.5% Act" (which has not become a law yet, still in senate hands), which talks about applicable changes to the actual estate planning to "impose increased tax rates on decedent estates, gifts, and generation-skipping transfers" (1). An article from Forbes (2) analyses Sanders's proposal, as in my personal opinion, the current estate tax is affecting farm owners and/or family businesses and harming entrepreneurs by imposing taxes and killing the willingness to maintain the business. However, with the changes proposed in the 99.5% Act, such as reducing the threshold of the estate, gift, and GST, increasing the tax rate up to 65% (depending on the rate structure), and no step-up in basis. It is relevant to highlight the need for a change that values farms and family business efforts, by replacing the estate tax or reassessing the actual law, which will give the opportunity to others to plan better about this topic. The tax exclusion will expire in 2025, so people should plan to give during the present those assets that are subject to appreciation in the future just to avoid taxes from assumed future growth of those assets, especially for those making large lifetime transfers.