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I don't agree on large marginal taxes on labor, you'd be targeting high earning surgeons rather than rich families inheriting wealth. If we want to tax capital,
by meric 9y ago
I don't agree on large marginal taxes on labor, you'd be targeting high earning surgeons rather than rich families inheriting wealth. If we want to tax capital, tax capital, and put a wealth tax of low single digit percentage point paid yearly. If you want to exclude people's first home, then do that.
- randyrand 9y agoI'm still not sure how much of a problem this really is. 88% of the very wealthy ($30+ million) in the USA made their wealth themselves. https://www.forbes.com/sites/niallmccarthy/2016/10/10/where-the-super-rich-inherit-their-wealth-infographic/#4992ddd06fe0 https://www.forbes.com/sites/niallmccarthy/2016/10/10/where-... ...the best source I could find.
- Retric 9y agoThat's with a long history of estate taxes and strong economic growth. Also, if you look at Americans with 10+ billion far more than 12% inherited their money. The US has been stagnating with lower GDP growth rate over time which will likely change these numbers. Because the low % of inhered wealth is mostly due to large numbers of new wealthy not children of the wealthy losing their money. http://www.lagunabeachbikini.com/images/2014/economy/RGDPgrowth-1.png http://www.lagunabeachbikini.com/images/2014/economy/RGDPgro...
- deleted 9y ago[deleted]