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Worth noting that there is a very significant tax on larger inheritances here, but in the end it is a drop in the ocean. Passing wealth down obviously drives i
by Ntrails 7y ago
Worth noting that there is a very significant tax on larger inheritances here, but in the end it is a drop in the ocean.
Passing wealth down obviously drives inequality but i cannot see a sane proposal to mitigate the impact. The more difficult you make it the more likely it is that only the very wealthy are able to pass on wealth. It is also obviously very unpopular with parents to suggest they cannot provide for their children.
Are there good ideas around?
- ido 7y ago50% inheritance tax. not just large ones, all inheritance with no loopholes.
- mantas 7y agoYou poor and living with your old parents? Your parents died? Well, fuck you, pay up for roof over your head!
- ido 7y agoIn the proposed scheme you will have money for a roof over your head even in that case.
- mantas 7y agoWhat if you don't have 50% in cash on top of the supposed value of the housing?
- ido 7y agoThen you sell your parents' house that you inherited & live elsewhere with 50% of its value. Remember the context this is discussed at, the inheritance tax will not be the only change: the point is to make basics like housing affordable to everyone. You will still have 0.5 * house-value more than someone who had no inheritance & is supposedly also meant to afford housing.
- mantas 7y agoAnd if it's already a tiny shack in bum fuck nowhere where property doesn't sell for years, yet government still value it higher for technical reasons? I bet you'd have a short deadline on this tax too, so he'll have to sell the property for stupidly low price. Or would government buy out his house, ending up with shit ton of undesirable property in the long run? Congratulations, now your parents are dead and you have debt on your hands with major headache. .. unless they just gifted the house to their kid once they reached old age. Then your law is meaningless. Unless you want to tax any gift in the family through the nose? While rich people you were going after solved the issue with all sorts of trust funds, gifting and clever employment schemes. So you gain nothing and people who were already disadvantaged loose. Yay.