During our daily lives we pay a variety of taxes. There is income tax, property tax, sales tax, gas tax and the list goes on and on. The final insult is the estate tax, also known as the “death tax.” This tax has been phasing out since 2001, but the Obama administration reenacted this program as of January 2011. It is complicated, confusing and serves no purpose.
The “death tax” requires heirs to pay the federal government up to 40 percent of transferable assets. One should not have to visit the undertaker and the tax collector at the same time. …