Charlie Simmons: Stop Giving Tax Breaks to Trust Fund Babies

By: Charlie Simmons

During the Gilded Age, in the midst of out-of-control inequality, our country created the estate tax to combat the growing power of the economic elite. But as present-day inequality reaches levels we haven’t seen in nearly a hundred years, rather than ask the wealthy to pay more, Republicans in Congress passed a tax bill in 2017 that dramatically cut the estate tax. Thanks to that bill, you can now pass along tens of millions of dollars without paying a cent in estate tax, while working Americans pay taxes on every dollar that they earn.