It is indeed about time and fantastic that black families are amassing some fortunes for a change given the history of economic repression. But the estate tax isn't racist and barely affects but a small number of people in the USA regardless of color
QUOTE: Federal Estate Taxes
For the tax year 2021, the Internal Revenue Service (IRS) requires estates with combined gross assets and prior taxable gifts exceeding $11.70 million to file a federal estate tax return and pay the relevant estate tax.1
The portion of the estate that’s above the $11.70 million threshold will ostensibly be taxed at the top federal statutory estate tax rate of 40%. In practice, however, various discounts, deductions, and loopholes allow skilled tax accountants to pare the effective rate of taxation to well below that level. Among those techniques is to take advantage of flexibility over the valuation date of the estate in order to minimize the estate's value or cost basis.
