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> 50% Inheritance tax would do wonders in the US. The US is already at 40%. The Feds want 40% of anything over $11.58 million when you die. Going to 50% isn't
by adventured 6y ago
> 50% Inheritance tax would do wonders in the US.
The US is already at 40%. The Feds want 40% of anything over $11.58 million when you die.
Going to 50% isn't going to do wonders.
If you wanted to severely adjust the wealth inequality caused by the extreme wealth of the top 0.01%, you'd want a 80% or 90% rate.
Increasingly the US Senate is rich enough it'd never be allowed to become law.
- athms 6y agoOnly 0.002% of estates pay the tax every year. Among the wealthy that are close to retirement or death, the smart ones transfer their wealth to insurance or separate entities like a foundation, limited liability company, family limited partnership, or charitable trust.
- sokoloff 6y agoThat is wrong by a factor of ~100. 0.2% of estates in 2017 paid an estate tax. [0] [0] - https://www.cbpp.org/research/federal-tax/ten-facts-you-should-know-about-the-federal-estate-tax https://www.cbpp.org/research/federal-tax/ten-facts-you-shou...