The press is at it again, this time on the subject of death estate taxes. In a WSJ article centered on the House-passed reconciliation bill and the parallel (on the subject of estate taxes) Senate Finance Committee-passed proposal, the news writer wrote

The estate tax cuts are a boon for the richest….

as she blithely parroted the talking-point criticism of the Leftist Samantha Jacoby, Center on Budget and Policy Priorities‘ Deputy Director of Federal Tax Policy:

They went out of their way to expand tax cuts for the wealthy on a permanent basis, but some new tax cuts for modest income people are temporary[.]

Both, beyond the bit about temporary tax cuts, are nakedly disingenuous.

A person’s estate is much more than just cash and stocks and bonds. Those estates include mom-and-pop businesses that have grown to modest levels of valuation, exceeding the current and expiring threshold of $14 million, the proposed threshold of $15 million, and especially the $7.14 million threshold that would resume were nothing done.

Those businesses’ values do not exist as money or as stocks and bonds that can easily be sold to raise the money with which to pay the tax bite. Those businesses, which are almost the entirety of a decedent’s estate, exist as operations with inventories, employees, sales prospects. And they would have to be sold by the decedent’s heirs in order to raise the cash necessary to pay the Federal government, utterly destroying that estate. That there are far more such mom-and-pops at risk than there are Evil Rich Folks who would benefit as a side effect of the proposed threshold increase is of no interest to the Left and its Progressive-Democratic Party politicians.

These Big Government persons have defined what is Government’s due (rather than the people’s due), and they are demanding it. Never mind how many average American heirs would be hurt or ruined by the demand.