We already have such an estate tax, and it's fairly effective
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..
End of conversation
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