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What is the incentive to continue working once you hit a threshold to comfortably retire with a good quality of life then? Might a 100% inheritance tax remove
by Thriptic 12y ago
What is the incentive to continue working once you hit a threshold to comfortably retire with a good quality of life then?
Might a 100% inheritance tax remove significant capital from the markets which would affect growth?
In this scenario, what is stopping people from transferring all of their money to their children before they die at a much lower tax rate?
How would assets like real estate be handled?
- whybroke 12y agoYou assume that such wealth was earned in the first place which is rarely the case and is less so every year. The meritocracy is broken and will be so exactly to the degree that there is inheritance, the two are directly connected. Inheritance is the exact definition of anti-meritocracy.
- Thriptic 12y ago> You assume that such wealth was earned in the first place which is rarely the case and is less so every year. Fair point. It's true that my statements only applied to individuals who earned the money themselves, and I failed to consider people who had themselves inherited money.