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"Estate tax - reduce dynastic wealth and recirculate" I think this could work in XIX century (maybe at the beginning of the XX century). Right now it would onl
by piokoch 6y ago
"Estate tax - reduce dynastic wealth and recirculate" I think this could work in XIX century (maybe at the beginning of the XX century).
Right now it would only mean that really reach people would invest elsewhere (they have means to do this) and estate tax would be paid by the middle class and poor people (especially the latter, since they have to rent flats very often, and this tax would be just added to their rent by the estate owner).
- triceratops 6y ago"Estate tax" isn't a tax on real-estate or land. It's a tax on inheritances.
- pas 6y agoThen rich folks will put family into high income positions into their own company to transfer wealth. Yes, sure ultimately if they want to transfer special voting shares that might seem like a problem, but with some foresight I bet that that can be worked around easily too, especially if the family has decades to prepare an do it.
- triceratops 6y ago> Then rich folks will put family into high income positions into their own company to transfer wealth. The recipients of those jobs would pay income tax though. And in most jurisdictions earned income is taxed way higher than dividends or capital gains.