Link So, abolishing the inheritance tax will only benefit 1.6% of the population. I believe the current tax free portion of an estate is $1 million so the percentage is probably even less. Yes, family businesses suffer from the inheritance tax but good financial planning can usually avert most of the burden. Why was this so important to gw & co. again? AH, that's right to benefit all of those who have contributed to his campaign fund, silly me.