Think about what you are saying. You are making the assumption that every dollar has an albatross of a 30% sales tax attached to it.If that's how you want to put it.
I disagree.What a shock.
The only dollars that have such are those that are spent. The vast majority of wealth is not spent at the retail level. It is reinvested, saved, passed on to the next generation.The only value in wealth is spending it. Other than that it might as well be Monopoly money.
Under the NRST it will be truly be passed on to the next generation.So? The next generation will not benefit from it unless they spend it.
My boss and some others started our company in 1954. He went through high tax rates all of his life and double taxation of dividends, since we are a corporation. We sold off a portion of the company in 1997 and had to pay 35% of that gain (a very large amount) to the government in corporate income taxes. He put a great deal of the proceeds of that sale into a Foundation, which we are distributing to causes helping children still today. Due to some bad tax advice we didn't save any income taxes by putting the money in that Foundation like we thought we were going to get to do. The IRS had closed a loophole the year before. When he died in 2000, we had to pay over $10,000,000 in estate taxes. That is money we should have been able to keep in the business, but the government sapped it right out of us. That is a real world example.
The bottom line is, some inheritances are not just passed to individuals in cash. Some are businesses like ours that will use the inheritance in business to business transactions that will never be taxed. And when we make a profit, the dividends paid out will not be taxed once at the corporate level and again at the individual level. I'm sure our owners will be more than happy to pay tax at 23% instead of paying once at 34% and again at 15%.