Inherited wealth leads to the worst kind of billionaires, from Koch Bros to the Resident. Raise estate tax.https://twitter.com/equitablegrowth/status/1048226306893209601 …
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Up until 1963 the top income tax bracket, kicking in around $1 million in today's dollars, was 91%. Covered a multitude of sins.
Yep. Just saying even if you believe there are good reasons to cap marginal rate on income below 100% (diminishing but nonzero returns) it's not inconsistent to tax inheritance at 100% (i.e. disallow inheritance entirely) above a certain value limit.
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