Another Look At The Inheritance Tax
President Trump is proposing eliminating the "death tax" which will allow his family to inherit a lot of money and assets without paying taxes on it. The sources of his incomes don't seem to have produced much like the farms, factories, or small businesses which he talks about protecting but something else.
There is a "moral hazard" to the absolute lack of an inheritance tax. Some folks that inherit money will stop working and producing things before they might have. Some folks may never work at all. And that doesn't include some folks that will actually have trouble managing their wealth and cause problems because of their wealth.
Meanwhile providing money to support and protect everyone is short changed or must pay higher tax rates or the debt increases. The marginal tax rate on productive labor should be reduced and other tax rates should be reviewed to insure they provide positive benefits and good jobs. Slaving away at low wages is a form of exploitation that compounds issues that limit upward mobility.
The current system reserves too many resources for those that already have sufficient resources. How good is the higher education system at making sure it benefits all instead of those already at the top of the totem pole. Some very good schools are underfunded while Ivy League Schools continue to invent ways to restrict access, increase tuition or add stuff that only attracts more money.
A democratic society needs tools to better reward merit and pay their bills rather than developing oligarchies.
There is a "moral hazard" to the absolute lack of an inheritance tax. Some folks that inherit money will stop working and producing things before they might have. Some folks may never work at all. And that doesn't include some folks that will actually have trouble managing their wealth and cause problems because of their wealth.
Meanwhile providing money to support and protect everyone is short changed or must pay higher tax rates or the debt increases. The marginal tax rate on productive labor should be reduced and other tax rates should be reviewed to insure they provide positive benefits and good jobs. Slaving away at low wages is a form of exploitation that compounds issues that limit upward mobility.
The current system reserves too many resources for those that already have sufficient resources. How good is the higher education system at making sure it benefits all instead of those already at the top of the totem pole. Some very good schools are underfunded while Ivy League Schools continue to invent ways to restrict access, increase tuition or add stuff that only attracts more money.
A democratic society needs tools to better reward merit and pay their bills rather than developing oligarchies.
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