The Estate Tax, something surely no college student has ever personally had to worry about, has recently come under fire by House Republicans. In what can be considered a display of congressional control, the House voted 240-179 to repeal the infamous “Death Tax”—a tax placed on inheritances that can reach up to 40 percent on larger estates. Throughout early U.S. history, it was typically levied during times of war, and it was not until the early 20th century that the tax was kept as a permanent form of taxation along with the income tax. Throughout the past 100 years, the US has seen rates rose as high as 77 percent on some inheritances, a ridiculously high rate for families to pay. 

The distaste for this form of taxing comes from the way in which it is levied on individuals. When someone passes away,   all  of   their assets left behind (including land, insurance policies and other property) are appraised for best value. Once this is done, those inheriting the fortune must pay, at the current rate, 40 percent  of that value to the federal government. While there is a $5 million tax credit to shield most of the middle and lower class, it often ignores people with other forms of wealth, (namely farmers and small business owners.) Almost anyone with a significant chunk of land has to essentially re-purchase 40 percent of it when they inherit it from their family. Many conservatives also point out this wealth has already been taxed when it was earned via income taxes and other property taxes, making the estate tax a second round of plucking for the federal government. In addition, these taxes make up less than nine percent of total US revenue.

This  upfront   vote to repeal by House Republicans is mostly for show, and will not bring about any serious reforms to the Estate Tax. Instead of chipping away at the tax by raising the tax credit or pushing around the tax brackets—reasonable reforms that would help provide relief to middle-class businesses and farmers—the house decided to flex its muscles. While many are applauding this effort and want to see the estate tax gone for good, they must come to accept small change over revolutionary ones. Even with control of Congress, Republicans are still going to have to compromise with the left in order to bring about progress and repeal the harmful facets of the “Death Tax,” because despite their efforts Thursday, we are still at step one.