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Generational, dynastic wealth seems grossly un-American to me. A 100% tax on the estate when someone dies seems totally legit. They're not going to need it, w
by Frondo 10y ago
Generational, dynastic wealth seems grossly un-American to me.
A 100% tax on the estate when someone dies seems totally legit. They're not going to need it, wherever they're going. If they want to give it to their kids before they die, then we can kick in the ol' gift tax or income tax.
That way we can make sure we don't have wealthy families where money ends up concentrated, decade after decade, displacing a disproportionate amount of political power.
There's nothing more un-American than a wealthy ruling class.
- ashark 10y agoEnforcement would be tricky. Fleeing wealth might be a real issue at that level of taxation, and you'd have to stop all kinds of activities that the really wealthy use to avoid the inheritance taxes we already do have (family trusts, board membership on corporations that exist largely to buy housing and transportation for family members, plus all sorts of overseas shenanigans and likely plenty of outright illegal maneuvering)