Meaning: The quote you've provided addresses the issue of the "death tax," also known as the estate tax. The estate tax is a tax on the transfer of property upon death. It has been a subject of debate and controversy for many years in the United States.

The quote suggests that if action is not taken, the estate tax will return to its full force after being phased out in 2010. This phasing out was a result of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), which gradually reduced the estate tax rate and increased the exemption amount over the years, ultimately leading to its temporary repeal in 2010.

However, as the quote points out, the estate tax was scheduled to return in full force in 2011 if no further legislative action was taken. This uncertainty and potential reinstatement of the estate tax raised concerns among many individuals, particularly those with significant assets and estates.

The sentiment expressed in the quote reflects the opposition to the estate tax and the belief that its reinstatement would be unreasonable and burdensome. Critics of the estate tax argue that it imposes a heavy financial burden on families and can lead to the erosion of wealth that has been built over generations. They often characterize it as a form of double taxation, as it applies to assets that have already been subject to income tax during the deceased individual's lifetime.

On the other hand, proponents of the estate tax argue that it promotes fairness and equity in the tax system by targeting the transfer of substantial wealth and preventing the concentration of wealth and power in the hands of a few families. They also contend that the revenue generated from the estate tax can be used to fund essential government programs and reduce economic inequality.

The debate surrounding the estate tax is complex and multifaceted, encompassing considerations of economic impacts, social equity, and the role of government in wealth distribution. It has been a recurring issue in the realm of tax policy and has sparked intense political and ideological discussions.

The quote attributed to Kit Bond, a politician, reflects a stance against the reinstatement of the estate tax in its full force. It underscores the need for proactive measures to address the potential return of the tax and implies that the current policy is unreasonable and unsustainable.

In the years following the quote, the estate tax continued to be a subject of legislative and political deliberation. Subsequent changes to the tax laws have modified the estate tax rates, exemption thresholds, and other related provisions. The uncertainty and contentious nature of the estate tax have contributed to ongoing efforts to reform or repeal it entirely.

In conclusion, the quote captures the contentious nature of the estate tax and the ongoing policy debates surrounding its potential reinstatement. It reflects the divergent perspectives on the estate tax and the complexities of tax policy in relation to wealth transfer and inheritance. The future of the estate tax remains a topic of interest and contention in the realm of tax policy and political discourse.