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Should we Have a 100% Inheritance Tax?
Everyone should only get what they achieved themselves.
It is not fair, that some who were lucky to be born into rich families, start their lives with a tremendous amounts of assets, while others have none.
Ownership of property is based on receiving it as a result of a voluntary transfer, or by producing it. Inheritance is neither, since dead people can't voluntarily do anything, and if you produced it, you'd already own it.
There would still be advantages to having rich parents. However, the tax would help to equalize the society as a whole by preventing the establishment of essentially hereditary aristocracy. The Kennedy's and Bush's are good examples of this.
An inheritance tax would disincentivise people from work their whole life just to make more money for their children to inherit.
A family member who inherits wealth has not achieved something personally and thus should have no right to get anything from the money.
Even without the monetary component the success of children is dependent on parental support.
If I want to secure my family, I want to be able to transfer my wealth partly to my children.
With this logic nobody would be allowed to inherit anything.
A key reason to work is to provide for ones family.
There are many forms of born advantage that contradict this: such as tall people, beautiful people and smart people who nevertheless get to keep the fruits of their advantage.
People should be able to have a choice about where their money goes, even after death.