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Well, some of us who didn't have rich, white relatives in the era of the robber barons would like to leave our children our businesses and wealth intact so they
by protomyth 5y ago
Well, some of us who didn't have rich, white relatives in the era of the robber barons would like to leave our children our businesses and wealth intact so they can build up the family. Changing the rules when minorities are trying to build wealth is a bit problematic.
- clarkevans 5y agoThese things aren't black and white. There is an enormous difference between a 7 digit (millions) estate, and one measured in 10+ digits (billions). While income/wealth inequality does encourage work and innovation, it is entirely different when inequality becomes an entrenched oligarchy.
- kova12 5y agoThere should not be a difference here. If person who earned 10+ digits produced 10+ digits worth wealth, how can you justify taking it from him? Lets take Elon Musk - did he not earn his 10+ digits? Would you rather live in the world without electric cars and affordable space travel? And now that he already delivered something that greatly benefits everybody you want to steal what he rightfully earned. Why is it that you think you even deserve equality - I know what Musk did for humanity, what was your contribution again?
- extra88 5y agoThe estate tax does not apply to the first $11.7 million, the children will be fine. If you're wealthy enough for the estate tax to be relevant to you, you're wealthy enough to do estate planning that factors in the taxes due. The robber barons you're thinking of lived a long time ago and very few of the wealthy today inherited their wealth from them. We should be more concerned about the robber barons walking around today and how our policies benefit so few winners and fosters income inequality.