Harris Death Tax Plan Would Be World’s Highest, Increasing Rate to 65%

The U.S. death tax will become the highest worldwide if Democrats win. Their plans include reducing the estate tax exemption from $13.5M to $3.5M and increasing rates to 55%-65%.

Ironic, considering the Democrats are already taxing us to death.

The American Business Defense Foundation reports that under the Harris tax plan, the number of Americans subject to the hated death tax would double or triple. This would happen because Harris has declared she will let the Trump tax cut expire next year if she becomes president.

Under Kamala’s plan, thousands more families will be clobbered by this tax when a parent dies. This brings new meaning to the idea of “the grim reaper.”

Under the Harris tax plan, the number of Americans subject to the hated death tax would significantly increase. This would happen because Harris has declared that she will let the Trump tax cut expire next year if she becomes president. Thanks to the Trump tax cut, the amount of an estate that is currently exempt from tax is roughly $13.6 million. But according to the Internal Revenue Service: “Under the tax reform law, the increase is only temporary. Thus, in 2026, the exemption is due to revert to its pre-2018 level of $5 million, as adjusted for inflation.” Harris wants this to happen. She wants to soak the millionaires and billionaires. But under her plan, thousands more families will be clobbered by this tax when a parent dies… Now many farms, ranches and family-owned businesses will have to be sold after a funeral just to pay the taxes. These are mostly owners and operators of small businesses that have been built up over a lifetime from nothing to million-dollar-plus enterprises. The owners have already paid Uncle Sam millions of dollars in income, property, payroll, energy, business and other taxes and annual levies. Now, they will have to pay a 40% estate tax rate, plus another 5% to 15% depending on what state they die in. In other words, up to half of a family inheritance must be forked over to the politicians. The IRS gets almost as much as the kids and grandkids. The agents should at least pay their respects at the funeral! But wait. It gets worse. Massachusetts Sen. Elizabeth Warren has introduced a bill to make the death tax even more onerous. Under her bill, the estate tax rate would rise to as high as 55% to 65% and lower the exempt about to $3.5 million. This means that as much as two-thirds of an estate could be seized by the government. This isn’t taxation. It’s confiscation of family property. Is the IRS going to seize grandmas jewelry of grandpas stable of horses and the mansion he built himself (Tippinsights)?