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The taxation rate seems just wrong to me - 471 million for a 1 billion heritage is almost 50%. Imagine that going on for three generations and suddenly you've p

by Inufu 14y ago

The taxation rate seems just wrong to me - 471 million for a 1 billion heritage is almost 50%. Imagine that going on for three generations and suddenly you've payed more than the heritage's value in taxes! I'm not sure why they inherited it at all - wouldn't it be way more sensible to create a foundation who posses all the art? That way, they wouldn't have to pay any taxes at all.

Zakharov 14y ago
Assuming generation lengths of a conservative 20 years, earning 2% interest after inflation and capital gains tax on the money would result in the real value of the estate staying constant after taxes.
- Inufu 14y ago
  How can you earn interest on Art?
  - rb2k_ 14y ago
    Inflation and the art market? If a painting was valued 1 million dollars 100 years ago, it would probably be worth a bit more in pure numbers today. (I'm really just guessing here)
    - 0x0 14y ago
      Which means you'll have to pay even more taxes, too, right?
Evbn 14y ago
That's the whole point. To eliminate aristocracy by imposing a three generation limit on inheritance.