New York Times:  “The Obama administration’s proposal for the estate tax has all of the ingredients of a damaging tax – large exemptions and loopholes, confiscatory marginal tax rates and little revenue potential. The best reason for having such a tax, if there is one, is to tap into any punish-the-rich sentiment that may be in the electorate. . . . But the huge potential for avoidance behavior is exactly why the proposal is so damaging from an economic point of view.”