What is the death tax and who does it apply to?

There is no such thing as the death tax. It's simply part of estate taxes, and it's the tax paid on capital gains of certain invested holdings when it's inherited. In the US this tax does not come into play until someone is inheriting more than $5.3 million so it is not a concern for 99.8% of the American public.

A few items of note:

1. Anti-estate taxers claim that the money is being taxed twice. That's just not so since the tax is on capital gains only, which have never been taxed before.

2. Trump has been talking about it because his constituents are too stupid to understand that it most likely has no direct impact on them and is simply a giveaway to the ultra-rich. They just hear the blather about getting rid of a tax and their knee-jerk reaction is to think it's a good idea. The irony is that for 99.8% of them, they're better off with the tax still in effect but again, they're too stupid to realize that.

The so-called "Death Tax" is a tax payable by the Estate on money left to heirs in excess of $5,250,000 for this year (rising slightly next year)....

It's purpose is to prevent "Dynasty Building" wherein a few people end up having so MUCH money they basically become Royalty, able to buy their own government, and tailor the nation's laws to suit their personal needs rather than those of the nation....

I believe it is a tax applied to any estate worth more than $5Million. So, if someone leaves behind assets worth more than $5 Million, a tax is applied.

It is not a "death tax". You do not get taxed for dying.

taxes applied to the value of the estate of the deceased

It's a tax on your estate levied after you die. It applies to (A) anybody with a few bucks and (B) anybody who dies.

When parents die, their money and property usually go to their children.

At this point uncle Sam stands up and grabs 35% of the inheritance, like Uncle Sam was their favorite child.

And Uncle Sam wants money, not property.

It means that family farm must be sold just to make Uncle Sam happy.

ADDED:

"Mikey, just Mikey" is wrong. The transfer of entire property over $5 m. gets taxed , not just capital gain. So, family farm will have to be sold to pay these death taxes.

The people whe get the will!