Quote:
Originally Posted by carpetmojo
If someone may be very talented, clever, lucky, or just works very hard and very creatively, makes a lot of money, [ might even be a banker, lawyer, tax avoidance specialist, or an asset-stripping expert, ] retires early, and invests all his proceeds from commercial activity in, say, a lot of shares/trust fund/ chemical factory, or even a "society beneficial" enterprise, which earns a lot of money, that is protected by various clever legal arrangements, and all the proceeds are willed to his off-spring for 70 years after his death.............. or longer, including the ownership of all said wheezes................
Ummm... why can't we chuck that out as well ?
Or do the authors just need better lawyers ?  |
Well, I might point out that nothing stops an author from doing the same thing.
That being said, I think a case can be made against the existence of excessive hereditary wealth, even in strongly capitalist countries. In fact, I wonder how much income-tax could be replaced by a 90% inheritance tax?
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Bill