
It’s inheritance that is immoral, not inheritance tax - FabHK
https://medium.com/@AbiWilks/it-s-inheritance-that-is-immoral-not-inheritance-tax-33ff91791f03
======
DarkKomunalec
"An accident of birth placed them in a wealthy family and they’ve benefited
from that their whole life."

Is this what our connection to our parents and ancestors, and their lifelong
effort to offer their children a better life, has been reduced to? An accident
of birth? Personally, I find this attitude sickening.

~~~
pavlov
From the point of view of purely individual achievement, it indeed is an
accidental circumstance.

I would be in favor of capped inheritance -- for example, $1 million USD or 1%
of the net worth of the deceased, whichever is higher. For inheritances below
that limit, a progressive tax.

I don't see why anyone would need more than a million as a "nest egg",
especially considering how lifespans are extending and the inheritor might be
70 years old at the time of the parent's death. Also, less hoarding would lead
to more investment and more economic growth.

I have no idea how this plan could actually be implemented for private
corporations whose stock can't be easily liquidated to pay for taxes. So this
is not a real political suggestion, rather a random vague idea of what would
feel "just" to me.

~~~
DarkKomunalec
"From the point of view of purely individual achievement, it indeed is an
accidental circumstance."

Yet there's precious little of purely individual achievement. From the
upbringing and help you get from your parents, the safety and convenience of
the town you grow up in, the education system you benefit from, to the health
system that takes care of you when you're sick, as well as makes sure the food
you buy is safe for consumption. Whether paid for by taxes, or out of your
(parents') pocket, these are all systems there to help you, built by the
society you live in, in most cases also your ancestors, so their children
would be better off.

To turn your back on all this work and claim it's just an accident of birth is
the pinnacle of ungratefulness. Should we take this line of thought to its
logical conclusion, and randomly reassign children to different parents, in
different countries, to do away with all inheritance, not just private
inheritance?

------
FabHK
One aspect she doesn't mention is that an inheritance tax on someone that
inherits a small business might force them to wind down the business in order
to pay the tax. That deserves some attention.

Otherwise fully agree with the article.

