Maybe start by not allowing this "stepping up" of the book value of asssets without paying taxes when assets are inherited:https://en.wikipedia.org/wiki/Stepped

Maybe start by not allowing this "stepping up" of the book value of asssets without paying taxes when assets are inherited:https://en.wikipedia.org/wiki/Stepped-up_basis https://en.wikipedia.org/wiki/Stepped-up_basis That means rich people can accumulate generational wealth without ever even paying capital gains taxes. And during one's lifetime, one can get liquidity out of assets by borrowing against them without selling them. The rule also seems strange from an outside perspective. Either the book value of assets should be kept the same when inheriting (I believe Germany does this), or the book value should be changed to current market value but the difference be taxed as gains (I believe Canada does this).