Economy

President Trump's Kids Could Make $1.5 Billion If He Succeeds in Repealing the Estate Tax

November 28th 2017

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The estate tax applies to inherited properties worth at least $5.5 million and to 0.2% of the wealthiest Americans. Opponents of the estate tax say it’s unfair because it taxes property that’s already been taxed, but repealing the estate tax for wealthy families will cost taxpayers $269 billion over 10 years, while paying the top 0.2% an average of $3 million.