Inheritances are generally spent and invested, you can argue that this money going to the gov causes malinvestment.
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You can argue that all taxes are malinvestment. But someone is going to pay taxes, whether we like it or not
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That wasn't really my point. I'm just saying that's part of the trade-off. Just seems like ppl think inheritances are like a dragon's hoard.
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Also, a $20mm cutoff means you aren't going to get shit. At that level of sophistication they can afford to avoid paying via legal entities.
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If you're only taxing large estates, at least it won't affect the vast majority of people.& billionaires do actually pay a lot of estate tax
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The truly wealthy have become quite good at avoiding these taxes. The receipts over the years have fallen dramatically, even as wealth has..
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By what metric? The rich evade these taxes via trusts, etc. Enforcement costs eat up a lot of the revenue, and when you consider that...
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Nah, estate tax is one of the more efficient taxes. Lower enforcement costs generally
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