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If you are going with the premise that someone's parents rightfully earned their wealth and it is fully theirs for them to do what they please with it - then it
by balfirevic 8y ago
If you are going with the premise that someone's parents rightfully earned their wealth and it is fully theirs for them to do what they please with it - then it is also theirs to give to their children.
It is not about child's right to that wealth - it is about parent's right to give it to their children.
- AlexTWithBeard 8y agoIt is absolutely within parents' rights to give their property to whoever they want - as long as the child pays the income tax on the money that fell from the sky.
- imtringued 8y agoThe parents already paid income tax. Where is the problem? Children inherit lots of things from their parents like their genetics, upbringing, location, food, clothing and a place to live without paying taxes on those things so why should the inherited money or property be taxed? All of those things "fell from the sky", how is money different?
- scotty79 8y agoParents can still be free to give what they own to children but you might prevent children from reciving it. For example by taxing whatever they recive. That said I think inheritance tax is very bad idea and shouldn't exist.