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100% tax on inheritance and other hereditary wealth-transfer schemes, eliminate loopholes, use the (substantial, I assume) takings to supplement existing funds
by caconym_ 7y ago
100% tax on inheritance and other hereditary wealth-transfer schemes, eliminate loopholes, use the (substantial, I assume) takings to supplement existing funds and implement a universal basic income. Also do something about education and healthcare. You can work and compete as hard as you like during your life, and get as rich as you possibly can in that time, but you can't take it with you and your wealth is used to give everybody in future generations the same chances you had yourself.
I don't believe it will ever happen. There's too much inertia and rot in what we have now, and nowhere to go to build something new.
- imtringued 7y agoA 100% inheritance tax is destructive and the government doesn't know what to do with objects that are very valuable for their previous owner and their children but worthless on the general market. How do you liquidate a family business without shutting it down because you're removing the family that is working for it? The way inheritance should be solved is by not allowing a single person to inherit more than 50% of the total net worth.
- caconym_ 7y agoWhat we have now is destructive, and what I'm talking about is science fiction. It would require significant legal and economic changes. Coincidentally, it appears now that the long-term survival of industrialized human society will require significant legal and economic changes. So, that's why I would say such a crazy thing. With the wealth distribution curve we have today, I don't think your proposed solution goes anywhere near far enough to stop the consolidation of wealth in the hands of a very few who hoard it and use it to buy governments. But maybe your definition of "solved" in this context is not the same as mine.