Why Taxing Fairly Means Not Taxing Inheritances.┬áN. Gregory Mankiw, September 9, 2016, Opinion, “Does it make sense to tax inheritances and, if so, how much? The answer to this question is a perennial political football.┬áPresident George W. Bush, to whom I was an adviser, pushed for the elimination of the estate tax. He succeeded, but only briefly. In 2001, he signed legislation that phased out the tax and eliminated it in 2010. But the tax was back in 2011.Link