re: Why isn't an extreme wealth/inheritance tax pushed more by progressives?

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Are the next generations not spending it? The leftist theory that somehow, if rich keep their money, it's locked away economically is just economic ignorance.

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I am speaking about hypothetical net worths north of $100M. So, yes, while future generations can and will spend it, it would not return as efficiently as it would via redistribution/theft. My children could live just as comfortably off of $1M as they could $100M. That said, my thinking tends to lean in the direction of yours, as well. It is the one aspect of my political beliefs where I am inconsistent and break from most of my fellow Ds.