Don’t Talk about Death Taxes Till You’ve Read This

As Jacobson, Raub, and Johnson have pointed out, supporters of these taxes have seen their moral purpose as “preventing the concentration of wealth in the hands of a relatively few powerful families.” It’s fair that very large estates should pay these taxes because they have benefited from the government’s work more than others. A few examples include government regulation of securities, police protection (having more property and wealth to protect than others), and low tax rates on capital gains income.

I don’t want America to be a country in which dynasties hand vast wealth down to their children while the rest of us tread water or fall into poverty.

The taxes should be called what they are: estate and inheritance taxes. If we want to make clear that only a few pay them, we could call them “taxes on very large estates and inheritances.”

What do you think?

Leave a Reply

Your email address will not be published. Required fields are marked *