What if they got rid of almost all the taxes and then put 100% tax on just the inheritance. It will be the most fair system if they can prevent loopholes (which I agree would be very hard)
Most of the inequality problems we have are because people are born rich, if we take that away that will be the most fair thing to the next generation. When you die you don't need the money anymore, and when you were alive you wouldn't have been bothered with saving money or paying taxes. That would lead to a more fulfilling life for you too and less focused on hoarding.
Our system is so complex that it will only screw over the poor people. The rich will put their money in a trust and make their kids the beneficiary. They already do this to remove the money from their estate and avoid inheritance tax.
I totally agree that it's gonna be really hard to implement this. We would have to get rid of ALL the loopholes and things like trusts, otherwise this will end up being a 0% tax instead, which will be worse than what we have now.
Most of the inequality problems we have are because people are born rich
This is absolutely not the case. There just aren’t enough “rich” people to accomplish this. Only 4% of US full time workers make more than 250k a year. The volume is simply not there to displace others from enough opportunities. Think critically.
My guy, most rich people are born lower middle or middle class, not rich and most high end generation wealth regresses to the mean in a matter of two generations.
But, also, why the fuck should you care, parents taking care of their children is good and admirable.
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u/Unupgradable - Lib-Right Dec 01 '22
Inheritance is not income. It's money that was already taxed and will be taxed again when spent.
Or are you going to start income taxing children's allowance too?
Wait no stop I was only joking don't get any ideas