I give Senator Jim DeMint props for making the proposal, even though it had no chance of passing.
As the linked to article reports, super wealthy people like Bill Gates and Warren Buffet not only favor keeping the estate tax, but having it at a very high rate. Their rationale is that the tax encourages charitable giving. If you think about it, though, this is really condescending and twisted. Gates and Buffet clearly think that we are incapable of being sufficiently charitable with our money without the heavy fist of government hanging over our heads. They also obviously don't like children very much, since they'd rather see the estate of a parent taken over by the government than fully bequeathed to that parent's child or kids.