Subject: Re: 3 generations & 70/90 rule
I can see that, so I favour zero inheritance tax on passing wealth to your kids. But I also favour a very large tax on your estate based on however much you inherited during your own lifetime, so generationally it's a "one and done".

WADR Jim…I hope you unintentionally overlooked something. Given the fact that many who are fortunate enough to have good genes and who may not have surviving heirs late in life, by adopting such a harsh proposal as yours that would radically dilute large scale gifts to charity. I for one am glad that there’s at least a 15 million exemption for those who have surviving family members, but exceeding that cap will also allow mean that the rest of us can donate unlimited sums to charity without ever incurring an estate tax. If I’m lucky enough to reach my dad’s age of 95, my Berkshire shares will be quite a substantial windfall at that time for my current list of charities. I’d rather the money go there than to wasteful gov’t spending, and the current tax laws agree with me, so that’s why there is no US estate tax on unlimited legacy gifts to charity.