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People with $10M are more likely to be entrepreneurs. So, society should attempt to increase the number of people with $10M. Currently it taxes wage slaves heav
by jmpman 5y ago
People with $10M are more likely to be entrepreneurs. So, society should attempt to increase the number of people with $10M. Currently it taxes wage slaves heavily, including those on a trajectory to have $10M and become entrepreneurs. Yet, when a billionaire dies, why should their heirs receive their billions? With 100% estate taxes over $10M, the tax burdens can be transferred from the hard working member of society, to the idle rich heirs.
The extreme estate taxes would result in a more equal society, while incentivizing those more likely to drive it forward.
Yes, this will never work……