What are the arguments for and against eliminating the estate tax? Which political party is on which side of this argument?

What will be an ideal response?

Republicans favor elimination of the estate tax--or as they call it the death tax. Republicans argue that the estate tax makes it difficult for small-business owners to pass along a family business or farm to their children. They also argue that the money in an estate was already taxed when it was generated as income so it is unfair to tax the same money again. Democrats support maintaining the estate tax. Democrats argue that this is a classic form of progressive taxation, placing the burden with those most able to pay. Democrats also argue that the estate tax levels the playing field between generations. The estate tax is aligned with the capitalistic notion that everyone should have to earn their own way in the world. Democrats point out that they have the support of some extremely wealthy people to retain the tax. Democrats also argue that there is no proposal to replace the approximately $70 billion dollars that is collected by the estate tax annually.