Provision is not a problem in and of itself; it’s the scale at which it is occurring. I know from your posts that capital accumulation is an issue you’ve thought a lot about, and I’m sure you’re smarter than I’ll ever be, but I feel strongly that you’d change your mind on this if you spent some time reading about late Roman, medieval, and early modern economies. I was a libertarian for many years prior to looking at the dynamics of wealth accumulation that occurred during these periods and how societies came up with new ways to navigate them. I will admit I never came up with a cohesive moral theory to justify it, which is why I stop short of endorsing any alternatives; I’m just saying that the idea that it is a moral and practical necessity for these fortunes to accumulate is a relatively new one.
> BTW, the federal estate tax is 40% and the Washington estate tax is 37%. That's 77%. How much more do you want?
That is higher than I would have expected. It is notable that the federal rate has an exemption that as of 2025 is just under 14 million dollars.
The WA exemption is $3m. (I also misremembered - the tax rate is 35% not 37%.) The rapacious greed of the state is astounding. I expect high net worth elderly will simply leave the state.
What fortunes enable people to do are great things. Like found rocket companies.
Keep in mind that the wealthy people under free markets created that wealth. It wasn't confiscated from others.
BTW, the federal estate tax is 40% and the Washington estate tax is 37%. That's 77%. How much more do you want?