Establish a Responsible Estate Tax on Billionaires and Multi-Millionaires
It was irresponsible for Congress to allow the estate tax to expire in 2010, costing tens of billions in lost revenue. The federal estate tax is our nation’s only levy upon the wealth of billionaires and multi-millionaires. These households disproportionately benefit from the public investments (roads, schools, R&D, etc.) we all make in our society. The estate tax raises substantial revenue, encourages charitable giving, and puts a brake on the concentrations of wealth and power that undermine our democracy.