I would posit that there is likely far more value killed through inheritance of these businesses than through forced sale due to inheritance tax. I can certainly personally point to many local businesses that were inherited and run extremely poorly by the heirs due to a lack of drive. These heirs are mostly milking the value built by the prior generation until it runs dry. A forced sale due to an inheritance tax would have put these businesses into the hands of individuals who had the drive and the financial motivation to build the business rather than milk it dry. I suspect - though certainly can't validate - this is the far more common outcome than the hypothetical value destruction you suggest would come from the forced sale.