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The Estate Tax Debate Analysis Essay

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The Estate Tax
One of the richest men in the world, Warren Buffett (as of 2010), suggests that repealing the estate tax will benefit only the richest Americans. In 2010, this is the top 2% of the United States population. To put this in more common terms, 98 of every 100 people who die face no estate tax whatsoever. Nevertheless, many younger Americans assume that the group of richest Americans will eventually include them.
Listen to the short Warren Buffet on the Estate Tax sound clip at the link below and then answer the following questions.
1. According to the sound clip regarding Warren Buffett and proponents FOR an estate tax, what are the compelling arguments for having an estate tax?
2. Do you agree with these arguments? If so, why? If not, why not?
Answer all of these questions. Number each of your answers and DO NOT repeat the question text in your answers. Always submit each of the numbered questions in paragraph format. Avoid plagiarism.
Play media comment. Warren Buffet on the Estate Tax
https://nv(dot)instructuremedia(dot)com/fetch/QkFoYkIxc0hhUVBXdHVNd2JDc0hCNTUyWUE9PS0tYTc5MzY2YzA0YTA5MWUzM2Y5ZDAxYzVlMjk2NGNlNTFmYWVkYTAxMw.mp4

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The Estate Tax Debate
An estate tax is necessary because the country runs lots of deficits that need to be paid for. According to Kamenetz (Npr.org n.p), people whose wealth exceed one and a half million dollars should be taxed to avoid the concentration of wealth among the elites. When these people are taxed, a trillion dollars can be raised annually. The money can go to paying for wars, and if this does not make sense, then the money can be used to settle the deficits created by healthcare and education systems (Npr.org n.p). Moreover, the country has to think about the environment, which also needs to be financed. So, by taxing the elites, all these deficits can be settled, and the country can function at its full potential.
In my opinion, the estate ta...
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