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Imagine how much it would stimulate the economy if we did this! Instead of building up wealth to ensure the success of future generations, old people would be f
by tengbretson 6y ago
Imagine how much it would stimulate the economy if we did this! Instead of building up wealth to ensure the success of future generations, old people would be forced to use it or lose it. The Buicks, 0-entry bathtubs and high-end mobility scooters would be flying off the shelves with all this unlocked capital being forced to consume. Think of all the new JOBS!
Now that's what I call progress!™️
- dominotw 6y ago> Instead of building up wealth to ensure the success of future generations I will and can retire now if I can't pass my wealth onto next generation. Removing experienced productive people out of workforce would be silly economic policy.
- JamesBarney 6y agoI think only a very small percentage of the population would retire if estate taxes were increased even substantially.
- dominotw 6y agoagreed. was just responding to gp's sarcastic comment seriously :p
- bennysonething 6y agoMilton Friedman makes a good point (he completely disagrees with yours): parents passing on wealth to children is a good thing as it makes them invest. Not in trinkets of frivolous utility, but actual investments that puts money in important thinks like factories etc. If you'd. Prefer people to divert their wealth into pointless waste before the tax man gets it, then heavy inheritance tax is the way to do it.
- rwcarlsen 6y agoI think the gp was making the same point via sarcasm.
- sesuximo 6y agoImagine America but it spent more on end of life care
- humanrebar 6y agoOr they realize they can't set up their grandkids anyway and retire to snowbird life 5-10 years earlier.