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> Are you seriously suggesting that the threshold is set at this level because of unpopularity rather than the power of the extremely wealthy? I absolutely thi
by myrmidon 2y ago
> Are you seriously suggesting that the threshold is set at this level because of unpopularity rather than the power of the extremely wealthy?
I absolutely think that significant estate tax is an unpopular concept-- significantly more so than income taxation. A big factor is perceived "double-dipping"; there is some additional justification though because it seems very unlikely to me that less wealthy people could avoid this tax with the same effectiveness as 1%ers (who in many cases probably avoid paying it completely).
I fully agree though that the extremely wealthy leverage their power very effectively to prevent legislation that would affect them negatively-- a very clear example would be basically all of Trumps past and present tax policy, which you could IMO summarize as "tax cuts for the rich" without being too disingenuous, but which is absolutely NOT portrayed like that in mass media (and not perceived accordingly by most of his voters, which get diverted with "no more tax on overtime!" instead).