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The problem with your proposal is that if you slash the inheritance tax, you don't need a trust to pass the wealth down across generations. The whole point of a
by jowiar 9y ago
The problem with your proposal is that if you slash the inheritance tax, you don't need a trust to pass the wealth down across generations. The whole point of a trust is to avoid multiple halvings. By lowering the inheritance tax to 10%, the money makes it several generations down before even getting halved once.
- easilyBored 9y agoOr within two-three generations they might lose it all, or one of them pulls a Bill Gates and leave most to charity. Personally I think that you earned your money, paid taxes on it and your kids shouldn't be being more than half (at least on paper, before scores of lawyers and accountants devise shelters.) Your own kids are different, now as you go down the family free... Soon enough or maybe even now, the Kennedys, can marry each other in the church and without any genetic penalty. So Joe's money could be funding both sides of the family...