this post was submitted on 17 Jul 2023
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[–] afraid_of_zombies@lemmy.world 4 points 1 year ago (1 children)

The only single argument I ever once heard against the inheritance tax being really high that I thought was worth anything: in theory if all your wealth was tied up in hard assets that can't be easily divided up you could inherit a debt. The example was a farm. Which even then it is a fixable problem for that one edge case, just make it so if it is a farm you can spread payments out instead of all at once.

[–] Drewfro66@lemmygrad.ml 8 points 1 year ago (1 children)

Ultimately, while they deserve it, high inheritance taxes on the Petite Bourgeoisie are not the goal; it's very high inheritance taxes on the super-rich. If a man with a billion dollars dies, 950 million (if not more) should go to the government.

[–] Marsupial@quokk.au 4 points 1 year ago (1 children)

Only an idiot would argue for a flat tax. So that’s not an issue here.

[–] MelonTheMan@lemmy.world 1 points 1 year ago* (last edited 1 year ago)

I think low/no inheritance tax on the first X (50 mil for example) amount of assets/money, then the rest goes to gov is what he's saying.

It would phase out billionaires in a naturalish fashion if executed correctly.