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I'm a layman, so correct me if I'm misunderstanding, but I thought inheritance tax only occurs north of ten million dollars, so nobody in a "rags" position is b
by happytoexplain 5y ago
I'm a layman, so correct me if I'm misunderstanding, but I thought inheritance tax only occurs north of ten million dollars, so nobody in a "rags" position is being helped by a lower inheritance tax. If you believe financial success is largely a zero-sum game, then a low inheritance tax hurts the poor. Alternatively, even if you don't believe that, a low inheritance tax still doesn't help the poor.
- ac29 5y agoA low inheritance tax can't possibly be worse for building intergenerational wealth than a high one. I'm not sure what your point is.
- happytoexplain 5y agoIn general, of course. I was disagreeing that it helps the poor, specifically. Is what I said untrue?
- dragonwriter 5y ago> A low inheritance tax can't possibly be worse for building intergenerational wealth than a high one. It absolutely can for the people who wouldn't, in either scenario, pay inheritance tax in the first place, since for them a low inheritance tax means only less wealth distributed out from those who already have enormous generational wealth from which they might build intergenerational wealth, but not any advantage in passing the wealth they do acquire.