death duties ?

Republicans in the Senate failed to muster the votes needed to abolish the state tax on inherited wealth. The Senate was three votes short of the number required to bring the bill to an end. Senator Max Maucus said, "It appears unlikely that we are going to change many senators' minds on this issue, we will need time. It will take real effort. It will take real concessions." Currently, the government inflicts a tax of about 46 % on estates worth more than $2 million, or more than $4 million in the case of couples. Opponents say repeal of the tax would cost far less, in part because it would spark investment and because it would eliminate a reason for tax avoidance. But the tax’s advocates argue the cost of repeal could top $1 trillion, if the higher interest expense of bigger debits is taken into account.

Inheritance tax or death duty is a form of tax that is imposed upon the transfer of the property of the estate of a deceased person that is left to a person or organization. Supporters of the inheritance tax argue that it is not a death tax per se, but simply a tax on a transfer of wealth. Opponents argue that the tax is applied to the full estate, and not just the amount transferred, which arguably increases the effective transfer tax rate. In the United States, the tax is imposed only on the "taxable estate," which is generally less than the value of the full estate.