Because in a free society you can donate your property to whomever you please.
The reality is that a 100% estate tax mostly will hurt the middle and lower classes. The ultra rich will get with their lawyers, set up trust funds while they yet draw breath and find other loopholes.
Same as it ever was.
And while wealth inequality is a genuine issue, there's much worse things that grow out of trying to prevent people from being wealthy at all. It's absolutely the wrong goal. The goal should be to not exclude people from the benefits of living in a wealthy, developed nation. It shouldn't be trying to arbitrarily and spitefully rob the rich.
It depends on what you mean by “power”. If by “power” you mean money then the answer is yes, if it’s their money. The same applies for the not-so-“powerful”.