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5. When Bill died in 2014, he left his children $300,000 in cash (generated from labor earnings), a $2.5 million home that he purchased (with

5. When Bill died in 2014, he left his children $300,000 in cash (generated from labor earnings), a $2.5 million home that he purchased (with labor earnings) for $100,000 in 1985, and $3.2 million in stock with he purchased (with labor earnings) for $300,000 in 1990. Evaluate the argument that the estate tax represents double taxation of Bills income.

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