Does anyone remember the 90% proposed on bonuses for execs in the bailed out banks? Bill of Attainder. One of the uses of a bill of attainder is to deny an individual, or group of similar individuals, the right to pass on to their heirs the property they have accumulated. Seems to me such a narrowly targeted estate tax borders on this. I mean, hard to get much more towards the individual level of legislation than effectively 0%, right?
Personally, I say 50% on all estates. Gotta have some skin in the game. Of course, the truly rich have trust funds, family foundations (hello Clinton Foundation!) and other mechanisms to shelter vast sums from the tax man.
Historically, a bill of attainder was an act that condemned a group to death without a trial. Bills of attainder are prohibited by the U.S. Constitution. There are those who say the Federal income tax is also unconstitutional but they have not been so successful and a 90% rate has been imposed on the highest marginal tax rate in the past. I am not in favor of it. Is someone suggesting we bring it back to 90%? I don't see that anywhere.