The Biden administration wants to raise the estate taxes when someone dies. The idea is to change every little thing in the law, except the one thing that would produce the most money for the government. The one item that would make the biggest difference and leave the small estates — the average estate — alone would be to eliminate the deduction for payouts to nonprofits, including charities, by all estates. This deduction allows many of the largest estates to avoid a major portion of all estate taxes, while small businesses, farms, etc., get sold off to pay federal estate taxes. That means a regular individual can not inherit the family business.
— Clifford L. Davidson
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