The federal estate tax is a tax on property (cash, real estate, stock, or other assets) transferred from deceased persons to their heirs. Estate tax is paid on the portion of an estate's value that...

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Extracted text: The federal estate tax is a tax on property (cash, real estate, stock, or other assets) transferred from deceased persons to their heirs. Estate tax is paid on the portion of an estate's value that exceeds a specified exemption level which can effectively change each tax year. Currently, for 2022, the exemption is $12.06 million per individual. For obvious reasons, this tax has been the subject of on-going political debate Prompt: Do you think the estate tax exemption should be reduced, increased or maintained at the current level? what are the arguments that support your conclusion?