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Nobody wants to stop you from doing it. They want your kids to pay taxes on it. That's different. If I go to work this year and get $100,000 for doing stuff, n
by CPLX 10y ago
Nobody wants to stop you from doing it. They want your kids to pay taxes on it. That's different.
If I go to work this year and get $100,000 for doing stuff, nobody seems confused that I have to give a massive chunk of that to the government.
So if you don't go to work this year but get $100,000 from your parents, you shouldn't act confused that people expect to cough up your share as well.
When families transfer money to the next generation it changes hands. The way we finance our society, generally, is that when money changes hands a substantial portion of it is remitted in tax.
So you already paid taxes on it, sure, but that's irrelevant, your kids didn't. When you give money to your nanny or your driver they have to pay taxes. When you buy dinner at a restaurant the chef has to pay taxes. So when you give it to your kids they should pay taxes on it too.
Because when people get money they have to pay taxes on it. That's how taxes work.
The real question is why the rich kids think that the specific way they get their money is special and shouldn't be taxed.